Efficiency The first thing everyone must do in slow down times is become more efficient with their time and money. Years ago, a man came to me for counsel. His wife was a Nurse Practitioner which made about $80,000 a year. After ten years of marriage and then having a baby, she chose to stay home. His income was about $30,000 a year. To say the least, their income was slashed to a fourth and their debt went through the roof. With tears, he asked, “What do I do?” I said, You either triple your income or you lower your expenditures to meet your present income. No more eating out, twenty get a way weekends, or buying stuff because they’re cute. In these times, people should sell their late model car that has a high monthly payment and buy a used car for a cash price. Shut the cable off, no more buying anything except living expenses and stop eating out. There are a dozen ways for you to become more efficient and frugal with your money.
No comments:
Post a Comment