Make $5700 in 20 minutes!

The Goddess Biz Blog reported yesterday that one way to start making money in your business is to trim expenses. We heard from one reader who had an instant success! After carefully reviewing her itemized banking statements for the last year, she identified several areas of repetitive expenses being withdrawn from her account every month. She evaluated whether she actually NEEDED these now that times have changed, every penny counts, being a good money manager wins over being a good spender in today’s economy. Then she picked up the phone and cancelled the unnecessary deductions and within 20 minutes she had given herself a $5000 pay raise over the next year. These business expenses included:

1. Monthly subscriptions (Do you really need another CD to listen to every month when you haven’t listened to the one sent last month yet?)

2. Term life insurance (Have you really paid on this for a bazillion years without having any cash value unless you die???? Our reader said her daughter is now 30 yrs old and supports herself just fine now without Mom croaking!)

3. Auto insurance (If you don’t make any car payments anymore, then you only need liability and unisured motorists coverage, which saves you about 50% on your monthly expense)

4. Save the people campaign (Yes, we all want to send money to help others, however, right now we are saving ourselves first and then we will talk about the others)

5. Groceries (Do you know how much you spend? Next time take only CASH with you when you pay for things and see how much you save! Paying cash can lower your bill by 20 – 30%!)

6. Eliminate Credit Cards (Seal them up, put them in the freezer and see how you start re-evaluating every expenditure. When you spend cash — you spend less! Guaranteed! Amazing how that blouse on the sale rack is not as attractive when you have to pay cash.)

7. Return the items you purchased and never used (Did you make a buying mistake? Take it back! Find the receipt and return it to the store. You will love how good that cash feels in your wallet.)

8. Make your friend a good deal on something that is non-returnable (In the course of your conversations with friends, mention that you have something that you paid maximim amount for and would like to sell it for a reduced amount or advertise it on www.craigslist.com where you can find easy purchasers on-line.)

9. Talk over your expenditures before your purchase. (Tell your spouse or friend about your plans to make a purchase and see what they say about it first. This gives you time to plan your spending and eliminates the spontaneous, spend it quick before I change my mind attitude.)

10. Use your heart to see if something is valueable to you. (Your heart can give you the answer you seek about making an expenditure or letting one go. Follow your heart and let the mind rest! The heart never gets tired but the mind is over used!)

These are just a few ideas to get your heart making your decisions ! Take heart before every expenditure and make sure it is going to be returning the value that you most desire. Please share your heart-felt ideas below in the comments section — see you soon!