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The top 3 ways to become debt free: Tip #2

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:

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Cheers!

Daniel

Reply to
dnlgarnett
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While I personally would not even consider buying the e-books and videos that the OP advertised in his post, I have an opinion on this matter.

While trying to trim variable expenses is a good idea, one should always consider just how much time exactly he or she spends on "saving money", and whether this time could be better spent on "making more money". Perhaps, instead of spending one hour clipping coupons, that hour can be spent on learning something professionally useful that would increase one's hourly rate.

i
Reply to
Igor Chudov

A very good point. I have always been amazed by the lengths to which people will go to be "penny wise" and then end up being "pound foolish." People will drive miles in traffic and use up gas to save a few dollars on the latest bargain advertised in a supermarket flyer. As you say, some spend hours collecting and sorting out coupons from the newspapers and then maybe saving 75 cents or so with one or two of them. Then, when the time comes for a major financial transaction like buying a house, taking out a mortgage, buying a car, insurance policy, or mutual fund, they will waste thousands of dollars by declining to research money-saving opportunities that really matter.

Reply to
Don

I am old to this forum and this looks like thinly-veiled spam.

-Tad

Reply to
Tad Borek

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