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Discover The Exact Methods You Need To Create
Financial Success ... Without Having To Turn
Your Life Upside Down To Achieve It!

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1) Study Your Monthly Expenses

Well it's time to study the expense column very closely and
identify where you can cut your expenses.

You will be surprised to know that we can easily do without between
20-30% of our monthly expenses.

'Dispensable expenses' are stuff we buy on impulse to get a
ten-minute gratification, and after that it would not make much
difference to our lives.

Or in browsing through glossy flyers and advertisements, we get
attracted to special offers on stuff we do not really need. But we
buy simply because it seems like a good deal.

You must eliminate these expenses as, over the long term, it will
cost you millions of future dollars.

You would be amazed at the impact that a few extra hundred dollars
in monthly savings will have on your future wealth.

This next table shows you that a $300 extra monthly savings would
accumulate into an extra $1.69 million in thirty years.

An additional $600 saved would grow into an additional $3.38
million in thirty years, more than enough to retire on.

2) Pay Yourself First

Most people adopt the earn-spend-save habit. In other words, when
they get their monthly income, they will spend on all their
committed and impulse expenditures.

Whatever, they have left at the end of the month is what they save.
Even if they set aside a budgeted expenditure, this strategy seldom
works.

Why? Somehow, something unexpected might come up that causes people
to spend whatever they have, leaving nothing to be saved.

Instead you must adopt the Pay Yourself First habit. Before you pay
the grocer, the restaurant, the utility company, the TV repairman,
you have to put aside a fix amount into your investment account.
Then, spend whatever you have left.

In other words, you must earn-save-spend. The moment you earn your
income, you must immediately put aside 10-20% into a separate
investment account. Then live off the rest of the 80%!

The best way to do this is to make it automatic! Instruct your bank
to automatically transfer 10-20% of your in-come into a separate
investment account where the funds are not easily accessible.

This investment account should not have an ATM card where you can
draw it out. You should only have a checkbook which you use to pay
for investments.

Now, if you have got any form of consumer debt, you must modify
this formula a bit. Deduct the first 10% and use it to pay off part
of your principal loan. Then take the next 10% and put it into your
investment account.

3) Stop Before You Buy & Procrastinate

Before you buy anything, always stop and ask yourself the following
questions:
- 'Do I really need this?'
- 'Will I regret buying this three days later?'
- 'How many hours do I have to work to make back the money?'
- 'How much will this cost me in future dollars?'

Then, procrastinate in making a decision on whether to buy or not
to buy.

Say to yourself, 'I'll think about it and come back tomorrow.'
Eight out of ten times, you will not go back and spend that money
as you will probably forget about it.

The best way to stop being a shopaholic is to get yourself so busy
in purposeful and fulfilling work - especially meaningful volunteer
work -so that you don't go shopping until you really need a
particular item.

Many shopaholics admit their weakness is due to spending their free
time wandering the shopping malls. So, find a meaningful way to
occupy your free time and you will stop wasting your money.

4) Destroy All your Credit Cards but One

This next step will be painful but I guarantee it will shave off at
least 15%-20% off your monthly expenses. Cut up all your credit
cards but just leave one.

With lots of credit cards, you will have easy access to lots of
tempting credit. Just use one card with limited credit for all your
expenses...and again, pay the full balance.

5) Plan your Purchases...Only Buy at a Discount

You would easily save another 15-25% if were to plan your
purchases, buying only when there is a special discount and buying
in bulk.

Remember the example I gave you earlier about Ingvar Kamprad, the
founder of IKEA? He would only buy vegetables and fruits in the
afternoon, when the prices have dropped significantly.

As a kid, I observed my dad stocking up on toothpaste whenever the
supermarket had a special promotion. He would stock enough
toothpaste for six months until the next promotion.

I also have friends who buy all their clothes twice a year, during
the citywide sale. So plan your purchases with a three to six month
horizon in mind and buy in bulk whenever there is a very special
promotion.

6) Treat it as a Business Expense

Even if you are a full time employee, you should register a
business for income tax reduction purposes. You can use this
business entity for internet business purposes or to market your
intellectual property.

With a business, you can take certain expenses like transport,
entertainment, office supplies etc. and charge them as business
expenses. Whenever you do, you get an automatic tax deduction.

The higher your in-come tax bracket, the larger the savings. For
example, if you pay 20% in personal in-come taxes, then every time
you claim an expense as a business expense, you save 20%!

So there you have it, the six ways to reduce our expenses by 20-30%
immediately. Remember it will only happen if you start taking
action on it right away!

Only through the combined efforts of increasing your in-come and
reducing your expenses can you save the cash necessary for you to
invest and earn compound growth wealth that will lead you to
financial fre-edom.

To Your Success,