Project Focus: ROI
Print out the ‘expenses’ category from last month’s Profit and Loss Statement. If your P&L doesn’t list each expense individually, print out your bank statement instead.
Use a pen or highlighter for this exercise.
Go through your expenses for the last month one by one.
Look at each expense and ask, “Did I make money from that investment last month?” If your spend isn’t bringing a return, first look for a way to make money from it before you eliminate it.
We’re not looking to cut things; just to improve our return from each expense. That’s what turns an expense into an investment.
Highlight the expenses from which you did not maximize your return last month.
Tomorrow, we’ll address these one by one.
This project started on April 24. Start there.
Listen: The Simple Six
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