Are You Struggling Financially?

So, this post is a little off the organization/time management/home business success theme, but a little twist on a relevant question for many … Are You Struggling Financially?

Now I am sure that you are expecting me to tell you to work harder on your business, manage your time better, and get more organized so that you can be more efficient.  While all of that is true, I also wanted to give you another option.

Become a tightwad!  I’m sure you weren’t expecting that one.  Let me explain …

Many, many years ago (about 15 years), I was a struggling college student trying to make ends meet.  I had just moved into an apartment, and clearly remember using quarters from my laundry money to fill the gas tank to get to work to be able to get a paycheck.  It was the days of beanies and weenies, and ramen noodles.

Just by chance, I ran across a wonderful newsletter published by Amy Dacyczyn called The Tightwad Gazette.  Well, I subscribed and found so many wonderful ways of reducing expenses and fun and unique ways of reusing items and transforming them into something else.  I was a faithful reader for years, and many years later she put all of her newsletters into three separate books (she published the newsletter for about 6 years, so each book has 2 years worth of articles).

Fast forward to present day, and lo and behold, I found that Amy combined all three books into one giant volume – The Complete Tightwad Gazette and included several last issues of her newsletter previously unpublished in the three prior books.  Well, I had to get it and re-explore the wonderful world of tightwaddery!

It’s almost 1000 pages, and I am a little over half way through so far, and I just have to tell you that I have several index cards full of ideas to do, homemade gifts to make, and other tips.  I have also started cooking more from scratch and don’t find it that difficult.  Because of less processed food, there has been a lot less trash generated, and I was able to get my grocery bill (for a family of 4) down to about $150-$200 a month.

In the process of cutting out unnecessary expenses, it also made me think of how I could streamline any extra expenses in my business.  Sure enough, after careful review, I did find some extra charges that could be eliminated.

So, for those struggling financially, I offer three steps:

1) Go through your expenses and categorize them into necessary (rent, etc.) and optional (cable TV, etc.).  See what you can do to reduce or eliminate your optional expenses.  Do this for personal and business expenses.

2) Get a copy of The Complete Tightwad Gazette and read it cover to cover.  You will find that some of the articles and ideas are too extreme and some are things that you can do, so pick and choose what you are willing to do, and read with a grain of salt, knowing that some of the suggestions are things you will never do.

3) Take a good look at your income stream – your business.  How can you increase profit?  Are there inexpensive or free ways that you can generate more traffic to your business?  Can you create a schedule for your business so you can be more organized (i.e., call clients on Monday, post on blog on Tuesday, call recruit leads on Wednesday, call team on Thursday, etc.) and therefore more productive?  Or, is there something you can invest in that would pay back great dividends (of course, I highly recommend my video training program, book, or CD set!)?  Think outside the box and get creative.

Difficult times call for what is called “creative resourcefulness”.  So, put your thinking cap on, get out your calculator, and get to work!  Oh, and by the way, this can be FUN as well!  I’m getting a kick out of saving money using creative ideas, and also thinking of new ways to generate income in my business!

To your success,

Dr. Laura

I am an affiliate with Amazon, so if you choose to purchase a product through Amazon, I may be compensated.  That being said, I do only recommend things that I have personally participated in and found to be valuable.