One of the things that I do with my clients as we work together is get into their transactions. I’ve seen hundreds of people financially naked.  As a result, I’ve developed a process that helps you streamline expenses and eliminate financial waste. Using this method, you cut waste and low-joy purchases.

Do you want to learn how to save money without sacrifice?

Today, I want to give you four quick tips on eliminating waste in your financial life. This is going to save you money without sacrifice.

First of all, you have to start with tracking your transactions. You want to go in and look at your bank accounts and credit card statements. That way, you’re at least aware of what’s coming in and going out of your accounts.

1. Evaluate Recurring Transactions

In order to eliminate any waste, you need to find that waste.

I suggest you start by making a list of transactions that regularly happen in your bank account.  This is the stuff that we tend to forget about. We tend to pay for magazine subscriptions or gym memberships or other stuff that we’re just not using.

You want to make a full list and evaluate it. Look to see if there is anything that you’re paying for, but you’re not currently enjoying.  If there is… cancel it!

2. Shop Out Your Bills

The second thing that you’re going to want to do is shop out your bills.

You don’t want to waste a lot of time by doing that, like shopping every single thing. You can ask other people in your area to see if your car insurance is high, or to see if your cell phone bill seems out of whack. Then, you can shop those bills out. Normally, one phone call will do the trick on getting a service switched over. That can help you to save hundreds of dollars a year.

I recently had a client who, like the GEICO commercials, says that she saved $500 a year on her car insurance. That $500 is money that’s going to help her pay down her debt faster and get her moving towards her goals.

3. Lower Your Interest Rates

You want to try to call your credit card companies and see if you can lower your interest rates. You’re paying more interest than anything, so it’s worth making the phone call.

Sometimes it works, sometimes it doesn’t. But I recently had a client go from a 21% interest rate to an 11% interest rate on $8,000 worth of debt. That saved them $800 a year. So, in that case, it was worth the effort.

4. Find Waste in Your Home

Now, the last thing that you want to do is start to examine your habits and patterns. You want to look through your house and see where the waste is.

Most people, if they pulled out the last can of corn from their cabinet, would realize that it’s from 2007. Clean out your freezer, clean out your pantry, clean out your closets. See if you’re buying clothes and leaving the tags on them. If so, they’re just wasting away.

You may be able to see the physical waste inside your house. This is going to give you a pretty good indication of overspending in a certain area. When you’re ready, let me tell you the big secret to saving money at the store.

Are you ready to Find Your Bleed? Take my class.

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