Freeing up Cash

(Potential savings: hundreds to
thousands of dollars per year)
There are literally thousands of ways
to save money. But the quickest way to
free up cash is to look at the following:
1) What do you currently buy or
subscribe to that you really don’t need?
2) What can you sell?
3) Can you increase your income?
4) Determine your biggest expenses.
For most people it’s food, housing,
clothing and transportation. Next
determine how you can decrease
your spending on each of these.
5) Look at all your expenses one by one
and determine how they can be reduced.
For instance you may be paying $20 per
month in banking fees when you could
move your bank account to a no-fee
account. This will save you $240 over
the year. (Also beware of bank overdraft
protection. This is just like credit and has
interest charges. Don’t use it unless it is
an emergency.) You may also be paying
$15 a month for an Internet service
provider when a $5 a month service will
be just as good for you. This will save you
another $120 dollars per year. Add this
to the savings on bank charges and you
have now saved $360 per year. Perhaps
you are spending $10 a day buying lunch
at work. However if you brought your own
lunch from home it would only cost you
$2 per day. This will save you $8 per day
or $2000 per year! And so on. Creatively
examine all your expenses and you will
be amazed how much money you can
save. But the most important thing is
to take action to reduce the expense.

Scrooge