How much of my expenses should I cut to see a difference?
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How much of my expenses should I cut to see a difference?
Jordan Goodman (Personal Finance Author) gives expert video advice on: Why is life so expensive?; Why are things so expensive?; How much is the cost of living expected to go up in the coming years? and more...
There are a lot of ways you can cut your expenses to see a major difference in your budget. In food, you can go to wholesale clubs and buy generic foods instead of brand names. In health care, you can use something called medical repricing which we can find out about at medicalrepricing.com where instead of paying hundreds of dollars in premiums, you get your health care costs cut by 50% or more. In gasoline, you could shop around for the best service station with the lowest price. There's a website, gasbuddy.com, for example, that's constantly being updated that will tell you what's the best prices for gasoline. In mortgages, you might want to get a mortgage where the rate only goes down and not up. That's what's called an automatic rate cut mortgage or arc loan which you can find out about at arcloan.com. So there's definitely some ways you can cut your expenses. First, what you have to do is see where you're spending it and then see what are the alternative ways to cut it and then do that in a consistent basis across all your spending.