It's a good exercise to continually review your monthly expenses to see where you might be able to save some money. The money that you save, you can put towards your savings goal!
I would recommend listing all of your expenses on a spreadsheet, then tracking those numbers from month-to-month, then once you've populated data for a year, you can then start tracking your month-to-month from the prior year. Make it like a game. Wherever you can shed expenses, you win!
In looking at my own personal and business expenses, I've listed below areas where I believe there's an opportunity to reduce my expenses:
- Negotiate for a better interest rate upon renewal for my primary residence and 2 rental properties
- Be mindful of electricity and heat; buy energy saving bulbs; compare ENMAX vs. Direct Energy
- Consolidate bank accounts so avoid paying extra fees
- Re-evaluate TV/internet plan with other service providers
- Be mindful of cell phone usage
- Control spending on food and entertainment
In reference to comparing ENMAX vs Direct Energy, for further information - please check out:
- http://www.directenergy.com/alberta/electricity-plans
- https://www.enmax.com/ForYourHomeSite/Pages/Rates-EasyMax-Electricity-After.aspx?modalNoScroll=1&modalNoBezel=1&IsDlg=1
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