Steps To Spend Less To Make More

Written By Gary Spirer Published February 10th, 2010

Here’s my view of the world:

Market forces are stronger than any government. Throughout history, governments cheapen currencies.
Markets go up, sideways and down. The more they manipulate markets, the more you pay the consequences.

Most politicians do not understand economics and money. Many politicians are promoters – some con men. Few politicians and few people have your best interest in mind.

Stockbrokers, insurance brokers, house brokers, many financial planners, the hedge funds and the mutual funds cannot make money without you spending it. Most financial institutions are casinos. The house wins whether you win or not.

Not all people – politicians, brokers, financial planners or institutions are bad. Your main goal is to find the right people. Even more important you must take back your financial destiny. You must protect yourself and your assets at all times.

What to do?

The market is sending you a clear message. You don’t get wealthy from stocks and bonds. At best, they are a limited diversification.

You get wealthy from creating and buying assets at a cost way below value. Note: Even the stock market is presenting great values if you resist trading stocks in and out.

You make money on the buy. You also make money by having valuable skills that someone or some company wants. The markets will not go to zero.

You must develop skills – financial, marketing and selling – so you know how to handle money – how to make it and invest it. You need to know how to market and sell.

You need to have limited diversity but you want each of your assets or skills to bring you a stream of income.

People have basic needs; they will spend money – if not with you then with someone else.

How do you position yourself in this economy?

First, assess exactly where you are. What is your staying power? How many months of cash do you have if you had no income? If you have assets that you need to sell, what will you really net after taxes and when will you get the net proceeds? Spending! This is the one area you control. Remember, view each expense as an investment.

13 steps to reduce your spending:

Step 1. Put all your expenses on an Excel spreadsheet.
Step 2. Evaluate every expense no matter how small.
Step 3. Compare each expense month to month.
Step 4. Credit cards – limit to two e.g. American Expess and MasterCard.
Step 5. If you use American Express predominantly, their programs allow you to break down your expenses by category, by month and tag expenses the way you wnt, e.g. office supplies, car and auto, subscriptions etc. You may find incorrect charges such as continuity programs you are unaware of.
Step 6. If you work out of your home, cut out of your out-of-office lunches. Set up a healthy diet. Make your lunches in-house.
Step 7. Turn virtually all your expenses into variable costs, not fixed.
Step 8. Keep contracts with vendors at 6 months or less with a 30 day cancellation clause. This makes sure they are performing and you have flexibility.
Step 9. Plan each vacation in advance. Where possible, have business days with vacation days so you can limit duplicate travel. Plan advance trips to get the lowest airfares and hotel rates.
Step 10. Write basic contracts without attorneys to keep legal fees down. Only hire laywers when it is an absolute most. There are online form contracts. If it is an important agreement, surely hire an attorney. a. We have learned to modify our standard agreements – that’s what they do. Lawyers recycle agreements they wrote for other clients and charge you as if they wrote you a new document.
Step 11. Make sure you need your car, limit travel or use public transportation. You can do work on the train or on the bus.
Step 12. Computer maintenance costs can be a big rip off area. Get details! Have three bids. We saved $2,000 per month by getting away from a small company that was living off us.
Step 13. Cut down substantially on unnecessary personal care products.

Here’s the bottom line for me:

My lifestyle has not changed a bit; yet, I saved $6,000/month by just being detailed and organized. In fact, my life is even better. Yours will be also.

Here is the bottom line for you:

You save money.
You can reinvest it to expand your businesses.
You can do more with less.
You are better organized.
You got rid of unnecessary expenses and bad vendors.
You have less expenses to track.
You have much better control of your finances – this gives you a big psychological boost.
You have reinforced your financial discipline; yet, you do not have to penny pinch.
Simpler is better.
You carry this approach in your career and life.
If you are clear, you see things differently.
Once you control your spending, you can turn much more of your time and energy building sizable wealth.

Go to https://www.stepsto.com/home to learn how to start up your business, grow your business, make money and live the life you want! We have advised and evaluated thousands of companies from start-ups to Fortune 500 Companies. Steps To combines this knowledge with 25 years of research on the right steps the Greatest Minds in History took to achieve extraordinary success.

Kaisa on March 25 2010:
Wow – so many comments already, let’s move to the forums for more. We have copied the article as well as the comments there.

Discuss“>

15 Comments

  1. Margaret says:

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  4. Mike says:

    It seems so. Great blog by the way!

  5. Great post! Is there a way I can subscribe to the blog and receive email updates? Thanks.

  6. Alex Spirer says:

    Thank you. Glad that you liked the post. To subscribe to our blog you click on this link https://www.stepsto.com/feed/rdf/ or go the the orange link on the bottom of our home page. Also check out our articles tab through the home page where we have and will be posting new articles.

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  10. P.L says:

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  11. Alex Spirer says:

    Great. Welcome to the StepsTo Community! To read more of our articles you can click on this link: https://www.stepsto.com/stepstos/

  12. Alex Spirer says:

    Thank you! Sure, to subscribe to our blog you click on this link https://www.stepsto.com/feed/rdf/ or go the the orange link on the bottom of our home page. Also check out our articles tab through the home page where we have and will be posting new articles at: https://www.stepsto.com/stepstos/

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  15. Kaisa Kokkonen says:

    Good Morning everyone, welcome to the forums to make more comments – and find out some ways of Mastering Your Art Of Leverage!

    https://www.stepsto.com/forums/index.php?/topic/121-steps-to-spend-less-to-make-more/


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