When determining a budget, it’s important to know what’s essential and what’s not. That’s the first step in prioritizing and allocating our hard-earned dollars and trying to find areas to save money.
And that brings me to an important point I want to make about spending and expenses. And that is this: we often have far more discretion in how much we spend, even for essentials, than we realize.
In fact, the choices we make in these categories can have a major and lasting impact on our bottom line.
Here are some examples of what I mean.