A Simple Way To Cut Your Monthly Expenses
Keywords: success, cutting expenses, debt, savings, monthly bills, 0% loans
One of the most successful business models in the corporate world is also something you should look for to cut your monthly expenses.
The business model is a system of recurring revenues. Recurring revenues are a wonderful way to make money if you own a business. To best understand this system, think about your cable or satellite TV. Each month, you send a payment to your provider to receive your programming. How many times did the provider have to sell you on their service? One time! How many times do you pay for the service. Every month.
Of course, the company has to provide you with excellent service and programming every day, but they only have to sell you once. After you buy, you’re most likely going to remain a long-term customer. That’s how recurring revenues works. When a company sells you on their service one time and you send in a check every month, they make a fortune.
So how can this help you cut your expenses? Simple. Look for services you’ve subscribed to once and continue to send in money every month. Then look at how many of those you really need. If it’s tough to cut some out, think about this: If it’s a great money making system for the company, it’s a huge money-draining system for you.
Sure, some of your recurring revenue accounts are indispensable, such as water, electricity, and gas. In those cases, look for ways to cut back on your usage to lower your monthly costs.
But here are some of the most overlooked monthly bills that you could easily cut back:
* Extras from your phone company, such as call ID, call forwarding, voice mail (it’s much cheaper to buy an answering machine than to pay monthly for voice mail), etc. Look over your phone bill and ask yourself, “Do I really need this service?” These little add-ons really add up over time.
* TV. Move your cable or satellite service to a lower subscription rate. Or, better yet, try going without it for a while. Yes, you can live without TV … and probably should if things are tight. Let TV be a reward you give yourself when you’re in better financial condition.
* Your cell phone subscription. These can be some of the biggest money hogs around. See if you can lower your rate plan. You can usually do this without incurring any charges.
* Internet. Look for a cheaper monthly plan. Many of the cheaper services offer awesome service at a much lower monthly rate. Shop around and see if you can lower your costs. And some people pay a lot for hosting service for websites that aren’t producing any income. Ask yourself if you really need the websites.
* Financing. If you think about why companies offer financing on their products, it’s not just because it offers you a convenient way to pay. It’s because they make a lot of money on the deals. Any time you buy a product on finance plans, whether it’s a car, a refrigerator, or anything else, you’re choosing to pay more for the product. Of course, 0% interest loans are a great tool, but some of these come with hidden charges, so you have to be careful. Try to pay in full all the time. You’ll save big.
There are many other subscription plans that sell you once and bring in money every month. Go through your bills and see which ones have a recurring revenues type model. Then evaluate each one and see where you can make cuts.
And remember, you’re not just making a one-time cut. It’s a cut you’ll enjoy every month from here on out!
Steve Kroening writes for Success magazine and also publishes Wisdom’s Edge. You can get Biblical tips on health, finance, relationships, parenting, and success, delivered to your email inbox every week. Simply visit www.wisdomsedge.com and sign up for this free e-zine.
Previous Articles Highlighter:
Are Balance Transfer Credit Cards On The Way Out? (1)
Far from being on the way out, there are more balance transfer credit cards on offer than there have been for years. Granted, those offers have changed. The current crop include conditions that guarantee the issuing bank some benefit for taking on a transferred balance from another company.
The Many Faces Of Student Loans (2)
These loans can also be consolidated, like the Stafford and Perkins loans, and parents are fully responsible for repaying PLUS loans to the lender after they are disbursed. It is now easier than ever to find the right student loans as you begin to prepare for your collegiate education.
Medical Equipment Acquisition And Leasing (3)
Purchase price b. Projected useful life of the item c. Your current cash position and monthly cash flow d. Your current and projected future tax position e.
Financial Security In An Unstable Economy (4)
Get yourself started onto the road of financial success by becoming financially literate. Once you learn the financial principles and practices pass them on to your children. Get your children involved in the basic skills of finances and building wealth.
The Second Mortgage Home Equity Loan (5)
Getting a second mortgage home equity loan can be a good way to use the equity in your home to do any number of things. Like all financial decisions using a second home loan should be carefully considered in all aspects.
What Are The Current Tax Rules You Must Consider For Your Estate Planning? (6)
If the size of the taxable estate is below $2 million, no federal estate tax is payable. As indicated above, many states now charge state estate taxes, inheritance taxes etc., which need to be paid by heirs/beneficiaries of a descendant in accordance with rules, framed therefor.
Tips To Curtail Your Estate Taxes (7)
Sacramento CPA firms offers Estate Tax Planning to individuals and businesses. We have former IRS auditors who know the system to make sure you only get the best advice.
How Can Gifts Help You Reduce Your Estate Taxes? (8)
You can lower the size of your estate during your lifetime through gifts to escape the estate tax net. Gifts can be used in estate tax planning by using the annual gift exclusion.
A Tax Guide To Manage Your Estate Taxes Effectively (9)
At that time, only one $2million exemption is available. This position can be avoided if a bypass trust is formed on the death of one spouse. Through similar stipulations in separate wills of each spouse it can be ensured that the trust would come into existence on the death of any spouse who dies first.
Taxes You Must Consider Before Passing On Your Properties To Your Heirs (10)
Currently the rate of tax is a flat 45% with an exemption limit of $2 million, which is set to rise to $3.5 million in 2009. This tax also will be abolished from the 1st of January 2010.
Monaco Real Estate Prices To Overtake London Again? (11)
It's thought unlikely that the new island will reduce prices much overall though, despite the increase in the number of property units available as Monaco property is always in demand.
Tax Haven Property 2007 Gets An Icy Chill (12)
Andorra Residency As well as being a top ski destination, Andorra is also a tax haven, with many people moving to the country to benefit from her income tax free status.
Andorra Property Prices Hit 2007 Ice (13)
And it is the second home buyers, mainly for ski properties, that has seen the Andorra property market stopped in its tracks - for six weeks at least. One of the highest rises in recent years was the 19 per cent increase in property values in 2005, with the 2006 increase expected to be not far behind at around 15 per cent.
Andorra Tax Haven Introduces Capital Gains Tax (14)
'While there is a large disparity between Europe's top two tax havens - Monaco and Andorra - in property prices, the advantages of buying a property in Andorra, gaining residency and having no income tax far outweighs any capital gains taxes', they say, pointing out that Andorra prices are a quarter of those of Monaco's.
Asset Based Lending As A Financial Tool (15)
Even successful companies with strong banking relationships can quickly fall out of favor with lenders and lose access to unsecured financing, especially if they've shown recent losses. A few bad quarterly results doesn't necessarily mean that a company is in bad shape.
What Are The Benefits In Obtaining Debt Consolidation Services? (16)
But remember, cooperation is needed on your part. Be ready to make necessary adjustments to pay the debts you owe. Examine your daily life. Are there other ways in which it is possible for you to save some money?
Forex Broker - Choosing The Right Forex Broker (17)
Mini Accounts Mini accounts have small start up costs, usually around the $1000-$2000 mark. They also don't offer trading on the lowest spreads which means the potential to make a lot of money is severely reduced.
The Foreign Exchange Market (FOREX) Uncovered (18)
Typically you will find that it requires a low initial investment to get started. New investors can start out small and work their way up to larger trades as they feel more comfortable.
Run The Numbers Before Buying An Investment Property (19)
Also, if you think the property is going to appreciate in the future, a zero or negative cash flow property could still be appealing. The point here is that if you are buying a property with zero or negative cash flow, it's best to know beforehand instead of after the property has been purchased.
How School Loan Consolidation Can Save You Money (20)
Working with the right lender and working out the right plan for you will make your post-collegiate experience a pleasant one. Mike Selvon portal offers free student loans information.
Newer Articles Highlighter:
Why Is Estate Tax Planning So Important? (1)
When you are unable to take decisions regarding your healthcare due to illness or accident there needs to be someone who can legally take such decisions on your behalf. Alternatively, if you require long-term care, which is not covered by medical insurance, you have to make alternative arrangements beforehand.
Using An 80 20 Mortgage To Avoid Mortgage Insurance (2)
By obtaining a second mortgage or home equity loan for 20 percent of the homes cost you can circumnavigate this requirement by using that second loan as the down payment.
Parents Face 'Mounting Costs On Nurseries' (3)
Consequently, such consumers were reported to be able to only access credit for unscrupulous providers or are charged a high rate of interest personal loans. A representative from the charity claimed that debt-ridden households often have little understanding of financial products and as a result often do not realise when they are being charged an "extraordinarily high amount" in loan interest rates.
Garbage In, Garbage Out (4)
Risks and potential losses are never in bold large font right at the beginning. I've seen brochures which scream " get 20% returns !!", only to follow the little asterisk to read " returns are not guaranteed.
Should You Buy A Foreclosure Home ? (5)
Both types of purchases have their advantages, but they take a little more work than a conventional purchase. Buying a house at auction or through a mortgage company is probably the easiest way to buy a foreclosure home.
How To Manage Your Debt Consolidation Solution (6)
Presume it's 95% interest, 5% principle. That's approximately the illustration for the average home loan for the initial years. You can use an online calculator to see how long that will take in your situation.
Buying Insurance For Your House (7)
House insurance is sometimes referred to as home insurance, and generally refers to any type of insurance that is used to protect your house in the event that it is damaged or has any of its contents stolen.
How To Find A Forex Broker That Won`t Rob You Blind (8)
If capital is not a problem, any forex broker that has a wide variety of leverage options would be a good choice for you. A variety of options will let you vary the amount of risk you choose to take.
Options: How A Million Dollar Options Trader Sets His Stops: Underhanded Tips And Tricks (9)
This means tight stops may be knocked out more easily. It also means that if your broker has a rule that the options trader can`t set a stop closer than .25 below the current bid, you may not be able to set a tight stop until the price moves up.
24 Hour Profits By Picking The Perfect Investment Club Broker - Hidden Tricks Only The Experts Know (10)
In addition, a discount broker does not charge the same commission as a full time broker. The investment club may also want to consider using the services of an online broker.
The Benefits Of Having A Business Credit Card (11)
You can earn travel, points and so forth, just as with other credit cards. While these may not be worthwhile if you carry a balance, if you pay off every month you have a definite benefit.
Stocks: Hidden Blueprint For Profiting In Stock Trades - Entering, Holding And Exiting - Part 2 (12)
Buying a gap down is an excellent way to enter a position, since when a stock gaps down, it often opens near what will turn out to be the low of the day.
The Secret Formula To Picking A Million Dollar Forex Trading Strategies (13)
There are also quite a variety of meetings where you can get quotes and commentary that can affect markets just as much as any news release or indicator report. These meetings are often discussing interest rates, inflation, and other issues that have the ability to affect currency values.
Tips And Tricks To Set Up Your Second Stock Trader Club Meeting - Part 2 (14)
Once the stock trader club`s executive is in place, you can move on to other business details that need to be in place for the stock trader club to operate.
Unbreakable Forex Trading Rules Guaranteed To Increase Profits (15)
How do they make their approach consistent? By developing and following a carefully planned trading system. This is a system tailored to their trading style, as their goals are tailored to their preferences.
Forex Investing At The Right Time And The 10 AM Rule And How It Works (16)
After hours, the company announces a two for one forex stock split. The next morning the forex stocks gaps up to open at $161. It trades as high as $166 before 10 A.M.
Commodities: Discover The Amazing Award Winning, Secret To Support And Resistance Lines (17)
Where would the leading actor be without his supporting cast? Well, the first one would be a wreck, and the second one, would likely be a wreck as well.
Forex: Professional Market Investor Reveals A Short-Cut To Mastering Stock Market Investing Rules (18)
However, while the average trader may want the freedom to make these choices, but that doesn`t mean they are ready and willing to accept the responsibility for the outcomes. The reality of forex market investing is that, if you want to be successful, you have to accept that no matter what the outcome may be, you are completely responsible.
Do You Understand These Critical Aspects Of FOREX (19)
These currencies are on a floating exchange rate, and they are always traded in pairs such as Euro/Dollar, or Dollar/Yen. About 85% of all daily transactions involve trading of the major currencies.
Stocks: Hidden Blueprint For Profiting In Stock Trades - Entering, Holding And Exiting - Part 1 (20)
They ended up making no money, or even incurred a loss, on what should have been a profitable trade. With planning, this will never happen to you. Once you've created a plan that details how you will find entry and exit points, and how you will maintain your position safely, you will be well on your way to having your stock trades ALL COME TOGETHER!