Do you really need it?
That’s the question we’re asking ourselves on day 5 of our month long challenge.
We’ve looked at net worth, assets and liabilities. We also looked at monthly income and what’s being spent each month.
Just doing these things can be either a surprise or a shock.
Either way we all have things on our items on things I spend money on list that can be overhauled or better yet, eliminated.
Look through the list and be brutally honest with yourself. Are there some things or services that can be cut?
Cable TV…how many channels do you actually watch?
Gym memberships…when was the last time you actually went inside the building?
Monthly reoccurring service to something you totally forgot you signed up for?
I know it might seem like you’re giving up luxuries in your life but I’ve found after a few months you forget you even had them, some of them, you never miss which indicates you didn’t need them in the first place.
If you’re serious about making the income side of the column higher than the other column, nothing is going to seem like sacrifice.
Tomorrow we’ll focus on things you can do to increase the income side of the equation.