Instantly Level Up Your Budget: Stop Wasting Money

January 15, 2025

Your Finance Travel Buddy presents One Simple Step

Hello fellow Financial Freedom Seeker

Mindset Moment

❝

The unnecessary holds you back from the necessary

Pernia | Your Finance Travel Buddy

Welcome to our special edition daily budgeting tips 

Your One Simple Step today is…

Cut Unnecessary Costs from Your Budget

Why is this important?

As mentioned in the email newsletter about 6 weeks ago, there is always an opportunity cost to what you spend. 

Reminder: the definition of opportunity cost is

“the loss of other alternatives when one alternative is chosen”

This is why it is important to cut unnecessary costs as it frees up money to save towards your goal, or use for something else

How do I implement this?

  1. Determine what is an unnecessary cost for you

    Only you can determine what costs are unnecessary for you. Often on social media you see people talk about how not spending $5/day on coffee could enable you to save a deposit for a house 🤣but the truth is that that coffee might be important to you and help you get through the working day, in which case it’s not unnecessary. 

    Go through your expenses, ensure you understand their nature, and decide which ones are unnecessary for you. Then cut these out of your budget (either in full or partially) and commit yourself to that cut in spending. 

    FREE BONUS

Join our FREE masterclass on 22 January (replay available) that will teach you how to build a robust budget that will enable you to control your spending - sign up here 

❓Have you incurred unnecessary costs in the last year?

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Have a fabulous week ahead!

Until tomorrow

Pernia | Your Finance Travel Buddy