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gunzijjistaff · Joined: 07 Apr 2009 Posts: 712 4.51 Dollars($)

Due to recent bad economy i am really finding hard time to adjust my expenses.Whenever i tries to make some adjustments from other sources it turns into really a terrible scene.

I am businessman.As the sales are down but overheads are still there.I can't reduce my employees as i won't find this is really a nice option.But i know surely there will be some good options. i just need your various comments!

Thanks in advance for the advice.

sara · Posted: Wed Apr 15, 2009 2:04 am Post subject:

Hi gunzijjistaff,

It would be better if you could visit a financial adviser and take his opinion in this regard. He will be the best person to help you. He will help you in preparing a budget which will in turn help you in reducing expenses and saving money.

Take Care.

Realgeni · Joined: 13 Apr 2009 Posts: 1434 99.76 Dollars($)

Good Advise.

Can you share more details on your situation, we may be able to give some suggestions.

srleee · Joined: 23 Apr 2009 Posts: 14 4.70 Dollars($)

Well, You can also try and calculate it yourself. Just list on one side all the expenses that are occurring monthly, and estimate all the expenses that might show up. Add those together and you'll get your monthly needs. Then just go through what you can cut down and see how much you can save. When you list it like this I think it will be obvious what are the essentials and what are luxuries that you can live without. At least that's how I do it from time to time to cut down on my spending.

manoj_gopale · Joined: 16 Feb 2009 Posts: 488 0.00 Dollars($)

Hi gunz

It is true that one is surely getting a big tole when it comes to budgeting the expenses.But What i personally believe is that one should only pay for the those needs which are essential to run the business.

1.Call all the employees and let them know all about the situation company is going through.

As saving is not going to happen with just board room decision rather an active participation of all the team members is required for the good outcome.

2.Make sure that you are trying to serve your existing customers with utmost sincerity and thus save on marketing expenses in order to search newer clients.

3.You can reduce the perks which executives are getting. (even all strata of the management as well as workers comes under executive category)

4.Try for free marketing techniques instead of going for high paying tactics. Idea

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What is is the best practise for me?