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These 7 steps came from Robert Allen’s How To Generate A Lifetime of Unlimited Wealth- Multiple Streams of Income Money Make-Over Made Easy CD #1.

1. Plan your purchases. Some purchases can be planned in advance and save you money. eg. airline tickets, shopping at the end of summer for summer clearance sales.

2. Expect and ask for a discount. Just the other day I bought some new tires for my vehicle. I asked if there were any discounts I was not aware of. I received $25 for a used tire I had to buy because of a blow out I had on the freeway and was unable to use my spare tire.

3. Expect and ask for receipts for everything.

4. Check those receipts for errors. Don’t assume the price you saw advertised for the item being purchased is the price you are paying at the register. This happens all too frequently. If you purchased many items (groceries) you can check your receipt in the parking lot before you leave the store. That way if you do notice an error it’s easy to go back in.

5. Categorize your receipts by writing the corresponding number on the receipt (Create 10 manila folders with the following categories- 1. Tithes  2. Pay yourself (savings, IRA etc.) 3. Taxes 4. Tax shelters (house etc.) 5. Household expenses 6. Auto expenses  7. Fun and entertainment  8. Insurances  9. Debts/ Miscellaneous  10. All business expenses.

6. Track your spending either through your checkbook/spreadsheet everyday. You need to keep track and  know where your money is going.

7. File your receipts for the day when you get home in one of the ten manila folders.

Your CPA or bookkeeper will love you for doing this and it will save you more money at the end of year by having more deductions that you can back up if need to if audited. Plus your CPA or bookkeeper may charge you less for this work you have done.

I hope you find this as helpful as I did. Now go have a great day and don’t do any impulse buying.