by Tricia
I’m still on a money-making kick lately, although it hasn’t been too fruitful yet. Karen left a comment that brought up a very good point when you are wondering whether to increase your income or reduce your expenses:
I read an interesting tidbit this week. It said that if you earn an additional $100 (from a part time job, for example), after taxes and working expenses you net about $60. But if you cut expenses by $100, you have $100 extra. I thought that was food for thought…
Karen’s right. That does give some food for thought.
It made me pause and think about how we could reduce our expenses even more. The most likely culprit for us is with our groceries and dining out. I believe with some planning we could cut our grocery bill by $100/month and we are already starting to work on a plan. I’ve said that in the past, but it never came to be. This time, though, I’m really making some progress with getting it ready. (If my plan ends up working to reduce our spending, I’ll share it with all of you. I think it will work…but we’ll have to see.)
Thanks Karen for the food for thought 🙂