Monday, January 19, 2015

Want A Month's Worth of Paycheck by Year's End? Reduce Your Overhead Expenses (Part 1)

Would you like a cool, one month's worth of salary (around Php12,000-Php15,000) by the end of 2015? Take time to re-evaluate your overhead expenses, and see where you can cut costs.

Here are several suggestions:


To save on electricity:

  • Unless you're a film critic or you write guides to increase one's chances in winning video games, limit screen time (TV, internet, video games, etc.) to no more than two hours a day. 
  • Limit the time you spend on social media (Facebook, Twitter, Instagram, etc.) unless you use these sites as platforms to promote your freelance business.
  • Make it a habit to unplug appliances from their sockets when not in use. A MERALCO advisory claims that this will save you Php300 monthly.
  • Have your meals planned a week or even two weeks ahead, and then assign Saturday or Sunday afternoon as the time when you cook food in bulk. You can freeze them in the refrigerator, and then, come meal time, heat just enough portions for you and your family.
  • If you prefer to have your meat, chicken, and fish grilled, invest in an electric grill to save on charcoal (this would also mean less time cleaning up). Consider grilling huge portions of chicken and fatty fish so you can have enough for lunch and dinner.

To save on phone bills:

  • Consider getting a telephone-and-internet "bundle," and opt for the cheapest plan. You can make and receive phone calls at home, and setting up a free Skype account would mean additional ways to get in touch with you.
  • If you have to be on the road a few days a month, get a post-paid plan that allows you a free cellular phone. Settle for the most affordable plan that will bring you the most benefits.

To save on utility bills and home maintenance expenses:

  • Always have a couple of LED bulbs handy. LED bulbs come cheaper since they're lower in wattage, but they give off more than adequate lighting.
  • Plan your laundry and ironing. Since freelancing at home may mean a lighter load, you can limit the frequency of laundry to twice a week at most.

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