If you’re like me, you have one or two drawers in your home where “stuff” just seems to land. My mom called it ‘The Junk Drawer.’
It’s usually the first place I look when I can’t find my keys.
Every so often, I take the time to go through it and throw out what is junk. And I hate to admit it, but most of it is junk – stuff I don’t need.
For most people I work with, there is another type of junk drawer: financial junk. Stuff they don’t need, but sadly, they pay for every month.
Cable channels they haven’t watched in over a year.
That gym membership that isn’t getting used.
Subscriptions to newspapers and magazines they hardly read.
If you take the time to go through your monthly credit card statements, you’ll find the junk.
You may also find purchases you often make that perhaps you shouldn’t.
- Clothing. Do you really need a closet full of garments you’ll wear once?
- Dining out – convenient but expensive and rarely healthy.
- Just about everything on Amazon. Well, almost everything.
- … and my personal favorite – The landline phone.
The easiest way to get a boost in your income is to cut the waste and commit to stop buying that stuff going forward.
Studying your spending habits is not exactly fun, which is why we do it for our clients. All part of our planning program designed to help clients maximize their savings and the life of their retirement accounts.
If you’d like to learn how we do it, call 513-563-PLAN (7526) or click here to schedule a call.
Regards,
Nikki Earley, CFP®
