FMOOD 0286: Decreasing the Outgo - a podcast by Tom Merlino | Tom is inviting you to follow him on his journey to get out of debt and get into prosperity.

Outgo is just as important as income, and sometimes we may forget about that. It's easy for us to simply focus on what we have coming in and not pay as much attention to what's going out. Thankfully, there is a better way for us to manage our finances.

 

As many of us may already know, there are lean times that come upon us at some point in time. Knowing how to manage those leaner times by controlling the money going out of our budgets will help us to navigate those choppy waters without sinking the financial ship. This will typically require intense focus. It's natural for us to want to jump the gun and start thinking of ways to increase our income, but many times, we should be sharing that focus with our outgoing expenses and improving things on that side of the scale as well.

 

Consider this. What happens when we get a raise? When we get a raise in our paychecks, we're excited to have this newfound money coming in. That's a typical initial response to good fortune, right? Well, we can experience close to that same excitement if we take some time to be a little inventive and do a little digging in order to uncover ways for us to spend less. This will feel pretty close to or even identical to how we feel when we get that raise. Why not spend some time to decrease the outgo, and as a result, effectively give yourself a raise today?

 

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