Updated
25.01.01
Duration
C25
Objective
Like 008, not going into personal finances in detail here. However, I intend to cut roughly 20% off of our annual expenses. Much of this savings will apply to the debt payoff protocol in 008.
Hypothesis
We have some large ticket expenses falling off the docket in 2025! Yay, no more full-time daycare/preschool. Coupling these large expense reductions with some monthly reductions, we should be able to decrease our overall spending in 2025 by nearly 20%.
Experiment Design
Identify both large and small monthly and recurring expenses. Make reductions where appropriate. One example is that we can easily reduce our food budget by ~$200 a month by veering away from takeaway and dining out as often.
Risk
We might have unaccounted for expenses. We might decide that reducing certain items is not a net positive for us, despite the savings. Inflation is real, and possibly the impact of proposed tariffs.