Step 6 of 12 Towards Financial Freedom: Trim Expenses

If you’ve been following our Financial Freedom series, then you know that last month we focused on creating a budget. Now that we have a budget, let’s slim it down!

You’ve already practiced spending less thanks to Step #2 in this series. Now, it’s time to get serious about it. Take a long, hard look at the money you spend each month and find your weak spots. Maybe consider going out to eat less often. Check out the example below.

Example:
In general, a single meal costs $5 to $7 at a fast-food restaurant (average is $6).

Saving by packing

You could save over $1,000 in a year!

Now, it’s your turn. Where do you spend the most on unnecessary purchases? What’s your particular vice? You may even have several spending traps. How can you cut back on you daily expenses? Any extra money you save goes toward your debt payments.

Need a fresh perspective on trimming your expenses? Sit down with one of our free, on-staff financial counselors. Call today at 330-364-8874 and ask for Katy Steinebrey or Fred Weingarth.

Need budgeting tools? Check out our interactive library through Banzai by clicking here.