Have you ever sat down and calculated your monthly average expenses only to discover that you are actually NOT living within your means?
Has your credit card been hiding a months worth of transactions and you’ve found that you’re actually spending more than you are earning?
Is that tax bill looming and you have no idea how you will cover it?
Have your savings slowly been dwindling instead of achieving those dreams you have been working so hard towards?
The only way to get ahead (including eliminating debt) is to either earn more than you spend or spend less than you earn.
In other words, make more income or spend less money. It really is that simple.
When I am helping a client who is not living within their means, to fix their finances, I encourage a brainstorming session to come up with 50 ways to temporarily or permanently reduce expenses as well as finding temporary or long term ways to increase their income. They don’t all have to be good ideas, but I just want to encourage the imaginative juices to flow. Don’t dismiss any idea as too silly…
Then, by adding my list of “60 Ways to Save” suggestions to the list, we now have an abundance of ideas to turn around a stressful situation. This is a very helpful exercise for anyone who feels stuck or in a downward spiral to turn things around and take back control into their own hands.