Home
>
Personal Finance
>
Expenses A ? What Are They And What Can We Do About Them

taxi from O'Hare Munster limo Chicago New Lenox Cadillac Escalade SUV rentals Melrose Park Cadillac Deville rentals Streamwood Barrington Hills town car ride to ohare .. Drug testing

Expenses A ? What Are They And What Can We Do About Them

It is crucial as an individual who is striving for financial freedom to be able to recognize the different type of expenses in our lives.
It is a proven theory that it is easier to cut your expense than trying to earn more income.
In order to maximize profits, a manager will try to minimize expenses before trying to gain more revenue.
And we can learn from that. By recognizing our expenses and ways to handle them, we will be able to create more revenue in our lives.
This article will help you to do that.

According to Rockefeller diagram, the following ten expenses are the different types of expenses that exist in our lives. Be aware that certain individuals might have more expenses in their lives. In order for us to achieve financial freedom, always bear in mind that our main goal is to minimize our expenses.

Kindly spend some time reading through the different type of expenses. (Remember them if you have to)

1. Giving
2. Self
3. Taxes
4. Shelter
5. Household
6. Auto
7. Fun & Entertainment
8. Insurance
9. Debt
10. Business expenditures

In this article, I am going to talk about the first five expenses and in my next article I will talk about the next five.

Expense Category #1: Giving

Most people do not consider this as an expense. Some will even completely eliminate this and not have anything to do with it.
In the bible, Christians are encouraged to allocate ten percent of their income as a tiding.
Most successful people actually allocate ten percent of their income to benefit others.
If you were to think about it, it is making sense! We have to agree that there is some "force" providing blessing of money for all of us. If that "force" were to choose who should he/she provides the money to, the "force" would rather provide the money to people that are generous.
Beside, there is no point in being a rich scourge.

Expense Category #2: Self

Bear in mind that successful people save a part of their income first and live on what is left over.
If we practice that, it will make a huge difference in the way we handle our money.
By saving a part of our income first (try to save at least 10% every month), we will be more careful on the way we spend our money.
With a proper budgeting system, eventually you will be able to save enough to invest your money to make more money.

Expense Category #3: Taxes

This is an expense that we can't avoid. There are different ways certain individuals are able to minimize their tax expense. Consult an expert to learn more.

Expense Category #4: Shelter

Shelter expense ranges for every individual. Some people rent a room, some rent the whole apartment, and others got their own monthly finance payment plan.
A lot of prosperous people start out financing a house and while they are doing that, they will be renting out the rooms that they do not use. Some will even build extra rooms to create more revenue. Not only they are minimizing their shelter expense, some are even able to totally eliminate this expense. Bear in mind that in order for us to achieve financial freedom, we ought to minimize our expenses.

Expense Category #5: Household

This ought to be your largest category expense. Household includes food, clothing, bills, etc.
One ought to try to allocate the most budget in this category. Being the largest category, household expense has got the most potential to be minimized.
For example, instead of subscribing to the expensive cellular phone plan, one can choose to apply for the cheaper plan and try to limit their cellular phone usage.
Always take note of the day that the bills arrived. Write it down in your calendar. This way, you are able to see your budget clearly. For example, I realized that for my electricity bill, I always receive the online bill on the 26th of every month. In my planner, I will highlight the 26th and write "electric expense".
At the beginning of the month, always browse through your previous month expense and try to find ways to minimize it.

Take some time to sit down and look at your expense and spend some time trying to minimize it and with a constant practice and more knowledge, you will be amazed at how much money you are able to save every month.
I will meet you in my next article for the next five expenses. Cheers!

Working together with you toward financial freedom,
Henry Tanaka
--------------------------------------------------------------
? 2005 Henry Tanaka. All right reserved worldwide
Reprinting and republishing of this article is granted only with the credit showed below included. Permission to reprint or republish does not waive any copyright.

Henry Tanaka, a college undergrad who's been making a good income online, believes that with the right guidance and teamwork anyone can attain financial freedom through internet. Take a look at his step-by-step method at: http://www.ShowerIncome.com

limousine chicago service

In The News:

If you're not lucky enough to live in the path of the May 20 "ring of fire" solar eclipse, you can still watch the spectacular event online.

If you plan it right, you could rent out your home on the Internet -- and use the money to take a free vacation of your own. These three websites will help you roll out the welcome mat.

Facebook founder and CEO Mark Zuckerberg updated his status to "married" on Saturday.

A new app launched this weekend that will scan the faces of patrons in 25 bars across the city to determine their ages and genders. Would-be customers can then check their smartphones for real-time updates on the crowd size, average age and male-to-female mix to decide whether the scene is to their liking.

An oil company exploration crew's chance discovery of a 200-year-old shipwreck in a little-charted stretch of the Gulf of Mexico is yielding a trove of new information to scientists who say it's one of the most well-preserved old wrecks ever found in the Gulf.

They say patience is a virtue, but like temperance and chastity, it’s not much fun. Unfortunately, if you want to reach a state of true techstasy, you may need to repress your desire to buy a new gadget today and wait for the next version to come out.

Taxes, dental exams, cellphone contracts — things you hate but can't avoid. Actually, you can skip the last one. With prices on smartphones dropping and plenty of used smartphones for sale, BYOD — bring your own device — is now an option.

A turtle the size of a small car once roamed what is now South America 60 million years ago, suggests its fossilized remains.

A new private supply ship for the International Space Station remained stuck on the ground Saturday after rocket engine trouble led to a last-second abort of the historic flight.

A private spacecraft stands ready to launch on a historic first visit to the International Space Station early Saturday morning.

A new generation of super rich, super young tech entrepreneurs is upon us. And while some are barely old enough to rent a car, most could -- if they really wanted to -- buy a small island nation instead.

The small town of Monmouth in Wales (population: 8,807, according to Wikipedia) will become the world’s first “Wikipedia town” on Saturday, May, 19, Monmouth county officials said on Thursday. Every person, place, and thing of interest in the town can now be scanned by a smartphone and looked up on Monmouthpedia.

The 16th Annual Webby Award winners have been released, honoring websites, interactive advertising, online film & video, as well as apps.

Summer's almost here and that means kids will have a lot of time on their hands to surf the Internet. So you may be concerned about what they'll be looking at online. Fortunately most web browsers like Safari, Chrome, Firefox and Internet Explorer have easy to use privacy settings.

Apple was sued in March by a New York man who alleges that Apple’s Siri commercials are misleading and deceptive. Apple’s recommendation to Fazio: buy a different phone.

A new NASA survey has pinned down the number of asteroids that could pose a collision threat to Earth in what scientists say is the best estimate yet of the potentially dangerous space rocks.

Tech geeks across the Facebook empire celebrated the company’s IPO and their newfound millions by slugging back energy drinks at all-night code-writing parties.

Just two weeks after the huge "supermoon" wowed skywatchers around the world, the heavens will offer up another observing treat — a solar eclipse on May 20 that should be visible from much of western North America.

NASA has given SpaceX $381 million to develop a private rocket to replace the space shuttle -- and that’s just the tip of the money iceberg. The space agency plans multiple future grants ranging up to half a billion in the next year and a half. Is the $4.9 billion program worth it?

More than 900 million people worldwide check their Facebook accounts at least once a month, but millions more are Facebook holdouts.

Expenses A ? What Are They And What Can We Do About Them

Personal Finance Personal Finance