Operation: KILL BILLS
It’s just time for it.
It seems like we need to get back to the basics. A lot of people are going through it economically right now and I want to put out information to help everyone succeed… even I myself am still learning as I go so I wanted to do a series where I drop little tips of things I’m doing currently to decrease my overhead expenses AND up my quality of life.
OPERATION: KILL BILLS (Vol. #1)
“It’s not about how much you make, it’s about how much you save” — we’ve all probably heard this at some point in our lives. If not… then get acquainted because it’s TRUE. Someone who makes $50k a year net & SAVES $15k of it vs someone who makes $100k a year net and only saves $5k of it — the former is doing better than the latter at the end of the year. After a few years, it will look like the former had the six figure job and the latter had the $50k job just by looking at the savings accounts of both individuals.
Your financial equation will have many parts but the two main parts you need to understand first is:
(WHAT YOU MAKE) - (WHAT YOU SPEND) = SAVINGS
You can make a lot of money but if your overhead is the same or greater, you’re actually not doing as good as you think. If your monthly take home is $5k a month but you spend $2500 on rent and utilities, your home expenses alone (JUST TO HAVE SOMEWHERE TO SLEEP AND JUST BE) is half of your monthly take home. You can’t afford to miss a day of work or even have a sick day. Cost of living is killing a lot of people but it doesn’t have to if you can learn how to be strategic.
What I did for the month of May:
I went through every single bill I have and assessed what I could do something about and what I couldn’t do anything about. For example, my mortgage is one thing I can’t change, however my monthly internet bill is something I could negotiate a lower price for. I was able to knock my xfinity bill down to $85/month from $125/month just by shopping around and calling xfinity with the prices that I was being offered. My gym membership is $28/month (the cheapest I could get it) BUT with my monthly internet bill saving me $40/month from now on, that covers my gym fees with change left. I’ve been paying $125/month for almost 18months now. Imagine the savings I missed out on. I vowed to never let that happen again. I got LEAN when it came to my monthly budget. Which left room for me to do things like go out of town and visit friends, or not work when I don’t want to.
Low overhead = FREEDOM.
So for OPERATION: KILL BILLS.. Volume 1 will be about reviewing your monthly expenses and seeing where you can trim the fat. Making more money is lovely but it sucks when your expenses constantly cut into it. FSO is all about making your life better.
Increase income. Lower overhead. Stack the difference.