Expense Savings: Record Every Purchase
Record Every Purchase
If you are looking to save money, this is a great way to lower your expenses. This works for business or personal expenses.
Some people (usually those who don’t do this) say that if you write down everything you buy, you might be shocked at finding where your hard-earned money really goes.
I have an improvement, or two, or three, on that way to save money. Write down everything you buy, but:
1) Do it in advance: If you write down what you are going to buy, before you purchase it, it becomes such a pain in the b*tt that you sometimes just don’t buy the item.
2) Post it online: If you post it online, so that everyone can see just where you are spending your money, sometimes you will shame yourself so much that you will quit buying those favorite Judy Garland rare albums, French Poodle luxury shampoo (everyone knows you don’t have a dog) and that “How to Win Back Your Cheating Man,” DVD and training book (especially when you are a guy). If you don’t think it works, just find out the user name for a friend who buys on eBay. Then ask them, “How do you like that mankini? Are you sure you bought the right size?” Then if you go and look at his purchases over the next few months, guess what, you won’t see as many questionable expenses.
And, my super secret Cost Coach special tip – just for you…
3) Post all the money you spend online AND send a copy: To your spouse, mother-in-law, parents, boss, ex-business partner, the person you want to date and that one special person who will laugh and tease you forever about it, all the while, telling hundreds of their friends about what an out-of-control spending moron you really are.
You will find that you cut down on impulse purchases, cut down on that expensive $9.99 4oz coffee from that snobby coffee stand (from the cute barista with the plunging neckline) and lower your monthly expenses from buying those National Enquirer newspapers at the check-out stand.
All right, that is your expense savings tip for the day. Be sure to read my related super secret Cost Coach special tip on why to Record Every Source of Revenue – especially remembering to include the revenue you earn from stealing into your neighbor’s garage and selling the tools you think he no longer uses.