Hey all,
Here is tip number 2 of the series. As I said in post #1, I am new to the forum so I just wanted to provide a little bit of value.
The next thing you want to do is reduce those variable expenses. A variable expense is an expense that can be easily altered or changed. For example: It?s not that easy to change your mortgage (fixed expense) but it all it takes is a phone call to possibly lower your cable or phone bill.
Take a look at all your expenses and separate out all the variable expenses and make a list. Then look at the expenses that are the easiest to lower. Of all the clients I saw, 90% of them were overspending in the variable expense category by at least 50%.
Here are some of the expenses I reduced when I had money problems:
Phone (Bundled with my internet and TV)
Groceries (I took my lunch to work)
Vacations (Went camping instead of the all-inclusive trips)
The main idea with all of this is to take a look at the expenses you can control and do what you can to reduce them. I know this is not new or riveting information but you would be surprised how few people do this.
You can also grab a free copy of my step-by-step video course that includes all of the ideas:
thedebtsolutionsystem.com/financial_resources_kit/tdss_squeeze/opt.html
Cheers!
Daniel
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