3 steps of saving money oh 3 steps of saving money

Step #1: Write down every monthly bill you have including the amount. For loans, you should include the interest rate you are paying.

Here is a list of common monthly bills:

• Rent or Mortgage 
• Credit Card debt
• Car loans 
• School loans
• All other debt
• Utilities (electric, gas, water, trash service)
• Internet, cable, home phone, and cell phone
• Netflix and other subscription based services
• Insurance (car, life, health, homeowners)

To make sure you haven’t missed anything, check your credit card and bank statements.

Step #2: Once you have a complete list, ask the following three questions for every item on the list:

1. Do I really need this?
2. Do I need exactly what I have?
3. Can I get what I need for less?

In the podcast I cover a lot of examples of ways to save money on monthly bills. You’ll also find a lot of ideas in the resources listed below.

Step #3: Execute. Once you have your list and know how you can save money, it’s time to make the changes. This often involves a lot of phone calls.

Source: http://www.doughroller.net/personal-finance/dr-013-the-one-n-done-method-of-saving-serious-dough/

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