Are your uncontrolled spending habits holding you from living your best life? I'll teach you how to control your spending, reduce your monthly expenses, and radically cut costs, FAST. Connect with me on Instagram: @nickcuttonaro 💥
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Video Summary:
I’m going to show how to control your spending, reduce your monthly expenses, and help redefine your spending habits.
This video should save you at least hundred bucks in the next 30 days, thousands this year, and if you’re a business owner potentially hundreds of thousands or even millions of dollars over the course of the next few years.
Now, you came here to save some money and gain control over your finances, so let’s get right into it.
▶ Section 1: Mindset: Exercising Discernment vs. Frugality
To kick this off we’re going to take the stance of exercising discernment and having control and discretion on where your financial energy is going vs. being a cheap skate and making unnecessary sacrifices.
Having is discernment is having power, exercising good judgment, and putting you in a mental state of having control vs. being controlled.
View all purchases you’ll make on the go forward as something you’re “investing in” and you’ll be one step closer to gaining more control.
▶ Section 2: Cancel Entertainment Subscriptions
How many subscriptions are you paying for right now each month? I bet you’d be surprised if you really looked deeper into it.
Many of these subscriptions are hidden by design. For example if you use iTunes or Amazon you might be auto-charged for stuff you’re not using.
Also, the might be overlap with some of these expenses especially in the area of entertainment where you might have a cable bill, Netflix, Hulu, Amazon (included with your Prime Subscription), and more.
▶ Section 3: Cancel Service-Based Subscriptions
All it took was one morning this week to review everything quickly, and add a little over $12k to our bottom line this year. Easy work!
▶ Section 4: Negotiate All Fixed & Variable Expenses
Call each and every service provider you’re doing business with, tell them that you’ve been a loyal customer and that you need lower rates.
Simply tell them you’re on a budget, buckling down, and need a lower rate so that you can stay a customer with them for the long haul.
▶ Section 5: Pay Down & Eliminate Bad Debt
You already know this, paying interest each month on revolving debt is like running on a hamster wheel. Want to get ahead? Tackle the debt.
▶ Section 6: Budgets Work For Everyone
Budgets are not for people who are looking to get out of debt, budgets are for everyone, millionaires include.
The truth is even when you level up financially, you need to have budgets in place even when your intentions are good.
I maintain budgets for how much I’m allocating toward real estate investments, art, watches and precious metals, stocks, professional development, etc. For good expenses and investments, you need limits.
▶ Section 7: Reduce Housing, Transportation, & Food Expenses
This might be a little more difficult to tame down if you have an existing mortgage, car payment or lease, or you have a family to feed.
If you’re renting and like where you live, negotiate lower monthly rent in exchange for longer lease duration.
Regarding transportation, see it as a way to get from point A to point B.
For food: eat out less, eliminate alcohol, and prepare meals in advance. Avoid buying name brands and buy at the lowest costs.
Nothing wrong with Walmart, Dollar Tree, Dollar General, Family Dollar, etc. You can spot me there in my local area paying less for commodities.
▶ Section 8: Reduce Utility Expenses
When I first moved in we were running the sprinkler system all the time and my water bills during the warmer months were $500 dollars.
Now, we don’t use the sprinklers and just let the rain do it’s thing and save more than $400 each month.
We have a couple gas fireplaces and I’d run them both simultaneously for hours or I’d go to sleep with them on during the colder months.
That was another $300 to $350 each month, which was eliminated after no longer running the fireplaces.
▶ Section 9: Business Owners: Fire Weak Performers
Running a business isn’t for the faint of heart and you must do what’s necessary to survive, thrive, and take care of yourself and family.
If you seriously want to reduce expenses and you’re a business owner, let your weakest performers go immediately.
💥 WANT MORE FROM NICK? 💥
For business/strategy consulting send me an email at: nickcuttonaro@gmail.com
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