“Give a man a fish; you have fed him for today. Teach a man to fish; and you have fed him for a lifetime”
The key to Financial freedom is the ability to control your expenses and reducing your personal cost of living. Caymanian Times will provide weekly tips that will help you to reduce your expenses by 20% - 35%.
In just a few minutes you can learn ways to maximize your income but remember if you don’t use it (the financial tips) you will lose it (your money).
Tip 1 - Fuel Expense Reduction
The cost of fuel has been decreasing slightly but is still high
The following tips will reduce your fuel costs by 10% - 20%.
• Carpooling – Try carpooling for 2 days per week. Many households in the Cayman Islands own multiple vehicles and therefore the levels of inconvenience will be minimized.
• Peak Traffic – Avoids peak traffic times. The extra time you spend in traffic burns additional fuel. Leave home earlier or ask your employer about flexi time.
• Frequent and fast acceleration – Avoid heavy acceleration and drive low the speed limit. Frequent and swift acceleration burns fuel at a faster rate.
Watch this column next week for more Financial Tips.