The following are tips that one can do to increase cash flow and identify resources more productively to be applied towards your economic well-being and/or Soul Purpose. Remember, that one’s perspective is more important than just going through the motions. The key is discipline to be productive with the money freed up rather than spending it on consumptive or destructive items. Each of these points can be utilized to recapture lost dollars, but can also be abused in a way that could lead to financial misery.

• Track income and expenses and eliminate expenses that are destructive to your human life value and Soul Purpose.This could include overdraft charges, excessively eating out, monthly charges for memberships that aren’t being utilized, etc.

• Look to getting some food items by finding deals from local “grocery gurus.” Warning - do not just buy things because they are on sale. However, if you are going to purchase certain items anyway, then see if you can capitalize on special sales. For those in Utah, the web link for weekly specials is http://www.pinchingyourpennies.com/forums/forumdisplay.php?f=62 (Yes, I do think the name of the website is very ironic considering the conversation).

• Increase tax exemptions. If you receive a tax return each year, increase exemptions to receive it on a monthly basis rather than yearly. Consult with your tax accountant to know what number is optimal.

• Temporarily pay minimum payments on credit cards and other loans. If you are making extra principal payments or anything beyond the minimum payments, identify that as a resource. If you do not know what else could be more productive than paying down high interest credit cards, then please put it towards your credit card payments. If you are paying extra on your loans, be willing to question if that is the highest utility of your dollars.

• Consider stopping contributions to 401(k)’s and IRA’s. This may be an obvious choice considering the volatility of the markets. Most would have been better in money market accounts over the last few years, if not the last 10 years.

• Sell off any unutilized assets. This may be time to clean your clutter and get rid of things that are only taking space but providing no utility in your life. Look to sell these off or donate to increase tax exemptions.

• Get rid of duplicate insurances. If you have life insurance tied to certain loans, it will likely be more cost efficient to get an individual term policy. Most life insurance offered through banks or credit unions are expensive for the coverage and benefit the banks more than the client.

• Consolidate, refinance, or negotiate lower interest rates on loans. Many of us can call our credit card companies and ask if they will lower the current interest rates on credit cards or other loans. Try it! You may be surprised.

For blogs on other topics I have written previously visit Garrett Gunderson’s Killing Sacred Cows website.