Gain Financial Freedom- Look For Unnecessry Expenses Image

Find Unnecessary Expenses = Profits

Are you one of those people who know you should cut expenses but just are having a hard time to actually do it?  Well, I’m going to share with you something that I experienced a while back that made me actually WANT to cut expenses.  Hopefully, you’ll be able to see things the way I saw it and make cutting expenses EASY.

The Story

Like many of you, I once struggled to spend less than I made and seemed to spend every dollar as fast as it came in.  The reason why I struggled was simply because I wanted to get something with my money, and it was usually “toys.”

Then one day I was at a book store looking at a business book and I came across a simple profit and loss statement.  On one side it listed all the income and the other side all the expenses.  The income side was stagnant and the lesson was how to increase profits to grow your/my business.

One option was to take on debt and invest in something to possibly increase revenues to make more profit.  The other option was WITHOUT taking on debt (risk) and I would still increase my profits…guaranteed!

Well obviously, I was real excited to find out about option #2.

It was an option that Sam Walton, the founder of Wal-Mart, did really well and you can do it, too.

The solution was simply cutting unnecessary expenses!

Do you really need that “all in one” cell phone or would an older, cheaper cell phone do the job?  Do you need that fully loaded computer or can the bare bones one do the job?

All of a sudden, my thinking shifted from “wow, that’s cool to get” to “does it serve its purpose?”  All I was concerned about was can that gadget do the job my business needed to get done.

Here’s The Key To Cutting Expenses

At that particular time I was in a business man’s frame of mind and what I wanted to do really badly was grow my business so I could be financially free.

Well, did you know how EASY it was to look for unnecessary expenses so that I could increase my profits risk free?

Now with more profits, I could achieve my goal of being financially free a lot faster because I had money (profits) to reinvest (and maybe even treat myself to a little something for being a profitable)!

A-Ha Moment

Why was I so excited to cut expenses with my business but not with my personal life?

Simple, because I would gain something from cutting my expenses.  I would gain more profits, and eventually my financial freedom.

Treat Your Personal Finances As Your Business

From now on, treat every paycheck that comes in as your business’ revenue.  The more expenses you trim, the greater your profits.  The more profits you have, the more you can invest into revenue generating machines.  The more revenues you have, the more profits your (personal) business will have and the more things YOU can have, i.e. financial freedom, bigger toys, etc.

You only can cut so much expenses so at some point you will shift your focus to generating more revenues.  And this is when it starts getting exciting!

So, today you are promoted to CEO.  Now go grow your company!

How do you make cutting expenses easier?  Comments welcomed.

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