Page 20 - Trading #101 Course – Part THREE: SETTING UP YOUR BUSINESS – www.traderscoach.com

TRADING #101 COURSE – PART THREE: SETTING UP YOUR BUSINESS – WWW.TRADERSCOACH.COM

5. Use it or lose it.
If you’re not using a product or service, get rid of it, Cancel magazines and
newsletters that don’t make you money; shut off subscriptions to news feeds you
don’t use, Do you really need three land line phones plus a cell phone?
6. Cut down services that are needed to half.
For example, if you have a cleaning service come every week, try having them
come every other week or once a month., You will be surprised that sometimes
you don’t need as much service as you are getting and you will not feel a
significant change in lifestyle.
7. Cut down your use of electricity.
Try energy- saver light bulbs, and other “green” measures, generally if you work
at home. Residential users of electricity generally are subject to a penalty for
using more kilowatts than their neighbors that who are not home all day; it’s
called going over your baseline. If you go over your base line, you can get hit
with four times the price per kilowatt than your neighbor pays. Call your energy
company to find out more; it can save you significant amount per month if you
have a lot of computers running.
8. Use a professional tax accountant.
They An accountant can guide you on ways to save on your taxes; it may save
you money to spend money on a professional tax advisor that knows how to
structure your business and personal taxes to maximize savings.
9. Bundle or renegotiate your phone, cable, and Internet access.
These companies are getting increasingly aggressive about competing in the
marketplace, and even if you have a relatively new plan (a year or two old) it is
worth considering current prices and terms., Bundling cell phones, Internet, and
cable can make a big difference.
10. Shop around for lower health insurance rates.
Maybe a higher deductible can save you a bundle per month, since health
insurance is one of those skyrocketing budget line items; it is crucial to keep tabs
on what the increase is every year and reevaluate current needs versus
expense.
11. Think before you buy!
How often do you go to Staples office supply and load up the cart with everything
you might need, only to find that a lot of it sits in your supply closet untouched a
year later? Make a shopping list before you go shopping and stick to the list.
12. Return items you haven’t used.
And if you do go into your supply closet, only to find that you have 10 boxes of
staples when you use maybe one box a year, or ink cartridges from a printer you
don’t even own anymore, return them. You will be pleasantly surprised at how
much all that stuff in your closet adds up to on a gift card the nice sales clerk will
give back to you. Don’t worry about not having a receipt; many stores will take
back items back and give you a store credit as long as the items is are still in
their system.
13. Reduce inventory.
Excess inventory costs money, big money, in outlay of funds at the time of
purchase and space to house the inventory. When you go to your local Costco or

20 | P a g e