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Money Management - Head Matters


9. Step 4: Save and Invest

Wait a minute. He (and you) have three choices: spend less, earn more, or both. First, he must look carefully at how he spends the money he already earns. Are all his current expenses truly that essential, truly meeting needs and not wants?

Look over his expenses again and see where money could be saved. Even small steps such as taking a brown bag lunch to work instead of buying something at a fast food restaurant can add up to significant savings.

So, Henry re-examined his expenses by asking himself questions. Answer them for him.

Some expenses are basically FIXED, that is, they are due every month, usually for the same or for a similar amount. Henry has less control over fixed expenses. Other expenses are VARIABLE, that is, he could erase or change the expense. For example, he doesn’t have to buy a given number of coffees each week.


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