Today on Medical Personal Finance, how you can save money this year, the fundamental principles of how to save. leave. Welcome to Radical Personal Finance, the show dedicated to providing you with the knowledge,

skills, insight, and encouragement you need to live a rich and meaningful life now while

building a plan for financial freedom in 10 years or less.

My name is Joshua and today as we begin the new year we're going to talk about

spending.

I don't know about you but I just

finished up a review of my 2017 expenditures and frankly a little annoyed with

how high some of them were so let's start with cutting those down.

During the new year, one of the tasks that I do in preparation for doing taxes as I go through and I do a review of all of my

expenditures of the previous year. I make sure that my business accounts are all fully

accounted for, that my profit profit loss statement is completed and

kind of analyze the year on the whole that's obviously very convenient to do on a

calendar basis I use calendar year accounting in my business so that's very

convenient to do on an annual basis and then in my

personal expenses do the same thing and I look and say okay how much profit did I earn what

were my expenses what was my savings rate etc how did the year go? And I try through the year to keep on track of things.

I try to, you know, I could pull a report every time, I could pull a report of today or this week or this month,

but often it gets away from me and I

often don't home in as quickly as possible and there are seasons in which expenses

are heavier and there are seasons which expenses are smaller.

And so when I look at the year I usually get a little bit annoyed and I just think,

man, that seems like a bigger number than it should be.

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