Time to Enact DOGE Principles

You may have feelings about the current administration or not like the cuts that are happening against government programs, but you cannot argue against what they are set out to do. At its core, the purpose is to "maximize government efficiency and productivity." In action, this means cutting out waste and putting resources (people, money, and systems) to work efficiently. So now you ask, how does that apply to me?

We have spent the last few weeks talking about leaks in our budget, so now let's put those learnings to work. Are your dollars working for you? Are you spending your money efficiently? Are you maximizing your resources in the best way possible to meet your goals and give you value today?  

Maybe it is time to cut some expenses in our lives to improve our present and our future.

Principle 1: Make sure your spending delivers the value you expect. Look at each item, especially those recurring charges (cable, subscriptions, cell phone, insurance...), to see if you are still getting what you expect out of them. Cable bills have skyrocketed, but most people do not realize they now have, on average, 4 streaming services they are paying for, with an average cost of $61 per month. Now that is a far cry from my highest cable bill at $220 per month, but it will continue to rise. Look across these recurring charges and make sure you are still using them and they are providing the value you expect from them. Or, are there alternative options that provide the same value to you at a reduced cost?

Principle 2: Make sure your money and resources are still working.  If you could invest the money today, would you still invest in it? Review your investments and make sure they are still delivering what you expect of them. Maybe you are nearing retirement and need to reduce your risk, or maybe you are young and need to look to increase your risk and your returns. Look at your goals and align your investments to those goals. Do not do this daily (the market will drive you crazy), but you should look over these every year.

Principle 3: Do NOT be afraid to let go. Sometimes the hardest part is pulling the plug on something or changing course. Do not make a rash decision, but take a look, review, and be ready to adjust course. The key is not to overanalyze it. Make a decision, adjust, and go. If you need to talk to one or two people you trust, and then make a decision. Set a date when you are going to change and go.

Are these 3 principles DOGE principles? To be honest, I do not know, but they are key to managing your budget, cutting out waste, and ensuring your money is operating in a way that delivers value to you today and prepares you for your future.