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99 Days to Amassing Your Personal WealthIf you can reduce expenses, you can save more money. You still have to tell your money where you want it to go whenever you get more of it (i.e. debt, savings, food, etc.), but cutting costs is a good way to free up a bit of cash.

Most of us – if we were really honest with ourselves – would recognize that we tend to spend money on things we don’t really need.

Maybe you have a gym membership that you’re not using, or maybe you have a magazine subscription that’s slowly eating away at your monthly income.

If you still want to get in shape, you can cultivate the discipline at home by going for walks or by lifting weights. If you still want to learn about your hobby, you can read about it online or borrow books from the library.

If you’re willing to problem-solve, there are often ways of getting what you want without having to part with all of your money.

Cut ExpensesAre you an all-or-nothing type person? Then maybe cancelling your cable service would be a good idea. After all, is there anything profitable to be gained from watching hours and hours of TV? Not really.

We all need rest, but you can probably find something more productive to do with your time than watching TV. You could go for a walk, read a book, take a nap, have dinner with a friend, spend some quality time with your significant other, read our blog (*wink*) and so on.

I haven’t really had TV for several years now, despite tempting offers from the cable company. I don’t just replace it with Netflix or YouTube either. I cancelled my Netflix subscription a while ago, because I’ve been in the process of streamlining.

Of course, this isn’t necessarily a great long-term plan for building wealth or enjoying life. It’s a short-term sacrifice (if you can really even call it a sacrifice) that will put more money back in your pocket when you really need it.

Moreover, it is wise to reduce expenses while you are still on that journey towards amassing your personal wealth. You can live on a lot less than you think you can, even at this very moment.

If you have an expensive car, you can downgrade to a sled-on-wheels for a while. If you are paying a mortgage, you can go rent an apartment or suite for significantly less.

Again, if you want to be extreme, you have to see past the short-term pains and look for the long-term gains that are waiting on the other side.