challenge accepted A 3-step guide to challenging your every expense Amid the COVID-19 crisis, which has caused many Australians significant financial stress, why not challenge yourself and see how much you can save for the rest of the year? Use your savings to pay down ‘bad debts’ or invest in something that will grow your money. Some live by the mantra ‘the less I spend, the less I have to earn’ to help them understand just how much of their money is heading
Here is my 3-step ‘challenge every expense’ plan: STEP 1: List every recurring expense that occurs weekly, fortnightly, monthly, and yearly. Regular expenses and bills add up. We often have numerous little outgoings that do not seem significant but end up contributing over a year towards reduced cash flow. Listing your regular expenses enables you to find a starting place to ‘challenge’ them. To do this, review bank statements, credit card bills and direct debits to list all of your outgoings (while excluding larger ticket items like council rates.
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outbound. It’s hard for people to have the same level of motivation when they are busy focusing on other aspects of life. However, I have broken it down into three core components to save maximum money. Ultimately, the goal is to review daily expenses, sneaky spending habits, and establish new ways to save money by trimming them back (or finding a better deal).
