Your free Crushing Costs resource library
We are always uploading new articles, hacks and tools. From how to Busting Your Budgets, lowering your regular expenses and embracing the Money Mindset, it’s all here.
The quick fix to financial fitness
People often ask us: where’s the best place to start when setting out to dramatically improve their financial fitness?
If you have any debt, aside from the mortgage, then Destroying your Debt is absolutely the first thing to tackle. We have some super useful guides and tools to help you on that journey. And we’ll be with you every step of the way.
Once that’s done or if it doesn’t apply to you, then by far the quickest way to giving your personal finances a major overhaul for the better, is reviewing and reducing your outgoings.
In fact, if you want to pay off debt even quicker, then this is incredibly powerful.
Empowering your available cash
Once you crush your costs and free-up more available cash, it can be funnelled into different ‘pots’ depending on your
- Emergency saving fund
- Debt recovery
- additional Mortgage payments
- FI/RE (Financial Independence / Retire Early) planning
- Children’s savings funds
Once you create the biggest ‘gap’ you can between your income and outgoings, it’s really just a case of focusing on your financial priorities.
Cutting costs it quick and easy
This is because most people can easily cut at least something from their regular costs.
It could be as simple as that regular morning extra skinny latte. (Though we’re more a fan of the double espresso – fewer calories and less cost). Even ditching two coffees a week at £3.50 each, puts an extra £28 a month back in your pocket.
‘t sweat the small stuff
Whilst £28 is nice, no-ones retiring early on that in reality. Let’s look at the bigger stuff – bills!
1 in 3 people have no idea what their bills costThe Telegraph, 11th April 2016
People successful in personal finance planning make sure they document their regular payments:
- type of bill (for example TV)
- regular payment (£50)
- contract renewal date (1st April)
And the really important part is to make sure you shop around. Furthermore, remember to always negotiate to get the best deal out there. If you don’t ask, you don’t get!
You would be astounded how spending just a small amount of time, even an hour a month,
It’s no sacrifice – the Money Mindset
Keeping your expenses under control is difficult in a world where consumerism is being pushed in your face from every angle 24/7.
Crushing Costs is all about the Money Mindset.
We’re not saying live like a monk (unless you want to, of course).
Once you get your major outgoings down as low as they can go, we mean the big stuff like housing, utilities and debt repayments, then the rest will fall into place. Go ahead and buy that morning Antelope Milk Caramel Machiatto guilt-free.
But if you do skip it one day, smile smugly to yourself and dream of sunbathing on your own private island, or simply retiring early because you can, then hold on to that aspiration. Don’t feel deprived of your morning
sugar caffeine hit. Embrace what going without it, is really buying you – happiness and financial freedom.
See our latest articles on how to Crush your Costs or check out some of the other Personal Finance Pillars below:
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