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  • Reducing expenditure is in your hands !

    4th May 2012 in finance, Max Montague



    “Can’t eat or drink a lot  tonight ‘cos I work out at the gym, have a personal trainer, do yoga and pilates to keep supple and chant mantras to maintain equilibrium!”

    What about the amount spent by wives or girlfriends’ on make up, haircuts … let alone the clothes  which are supposed  to make us feel better. Or that blokes spend on booze, clothes or teeth whitening!

    Amazing what we do and what we spend to look after our bodies or souls to extend the quality of our lives.

    Do we spend the same effort looking after our personal finances that feed the pleasures?

    After you’ve been assessed (or given the thumbs down) your personal trainer will set out an exercise routine to follow. This is called discipline. Without it you can’t expect to get fit.

    Same approach with your finances.

    Head up two columns one for “needs” and one for “likes”. Then make a list of all your personal expenditure, e.g. clothes, telephone, food, hairdressing, insurances, etc. and enter each item of expenditure into one of the 2 columns.

    Go through the “likes” column, take a deep breath and eliminate what you can without going apoplectic.

    Then go through each item of expenditure in the “needs” column and see whether you can reduce it e.g. if it’s the monthly visit to the hairdresser, extend it to six weeks. Have a look at your phone bills, mobile and land lines, there’s got to be a better deal around. Same approach with all the items.

    Revisit the slimmed down “likes” list and go through each item in the same way as the “needs” list, e.g. think about trading in the car for something more economical, reducing the restaurant visits, etc.

    Guaranteed you’ll be able to make savings without sacrificing too much.

    The more you save the leaner you’ll be!




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