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Cutting Lo$$es
Running a business or managing your own personal affairs share similar financial responsibilities. Recent economic news has really got me thinking. Maybe I’m a little slow and everyone already subscribes to this belief, but it took a hammer on the head for me to get it. (This is why they don’t let me handle accounting) I mean, really, who doesn’t want to make more money? At work, I’m always contemplating profit margins, how much can I sell for, how can I create add-on sales. Can I score some overtime? In other words: how much money can I make? The “late-in-life-lesson” for me I just learned is that financial success in business and in personal matters isn’t just about how much money you make, but equally how much you can save! When you can find that balance for the money you’re earning combined with ways of saving, you’re finally putting your money to work for you. It’s in this realization that the phrase “a penny saved is a penny earned” finally made sense to me. Here’s some stupid ways I’ve saved bank in one month:
I’m one of those who could never “brown bag” my lunch and bring it to work, but lightening my daily lunch expense adds up. Making dinner with enough leftovers for two nights adds up. I love my cold Starbucks coffee in the morning, but instead of grabbing one Monday through Friday, I cut it back to 3 days. All these add up. By the end of the month, I’ve SAVED $232, but in actuality, I’ve also EARNED $232 because it’s money I get to keep. It’s like having a raise. No, actually, it’s not “like” having a raise. It IS having a raise. If you could save $2.00 a day on just 4 things you typically spend money on, (and I’m just talking about Monday through Friday here) that’s $8.00 a day. Multiply that times 20 work days in a month and that’s $160 smackeroo’s! So, like my friends who laugh at my small frugal behaviors, if you’re chuckling, too, then why don’t you just give me that $160.00 so I can keep my habits? Make your check payable to Matt in care of Advantage Performance. What? You’re not gonna do it? But you were laughing as if these changes were petty. It’s not so funny now, is it? Take your money seriously!
What about your business? Do you pay for janitorial service? Landscaping? Do you keep lights and computers on at night and after hours? What do you pay for your shopping bags? Do you order more office supplies than you need? Is your service department wasting any resources? Do you have an employee who couldn’t even hack it as a spellchecker at the M&M factory? Cut your losses! Ten dollars here, twenty dollars there, thirty dollars here... it all adds up! In your personal life and in business, your financial success doesn’t just hinge on how much you make. It also hinges on how much you can keep! |
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Do you know someone who’s complaining about money, but bought sneakers that could wait? Or two CD’s that could wait? Or that steak dinner on the town because they wanted to treat themselves? All I’m saying here is that every friggin’ penny adds up. And, very small changes can make a HUGE difference without compromising your quality of life. Yup, I still smoke (don’t tell anyone). But I did change my habit and I’m almost down by half! I still have my Starbucks coffee, but not every day. I still grab fast food, but I also cook more meals that are healthier and last a couple days.