Take Control of your Fixed Expenses with this Worksheet

Thanks for your interest in the Fixed Expense Worksheet. With this tool you can take control of your cash in under 60 minutes or less.

The first step is to watch the video and download the worksheet. The video is only 15 minutes long and it will give you an idea of what we’re going to do. While you’re watching, download the worksheet using either Excel or Google Sheets.

The worksheet itself is a template of the likely expenses that you will see coming up regularly in your accounts. For business specific items there are extra rows where you can just add in your own. Having all of these pre-filled categories is how you can easily customise it to your own situation.

To kick it off you’ll need access to your accounting program, or your bank statements. What you choose will depend upon how up to date your records are.

Now it’s over to you … grab your statements, download or access the worksheet and get going.

Let us know how you go and where you’ve been able to save money in your business. We’d love to hear all about it!

Here’s some of the FAQ’s we’ve been asked about this worksheet:

How can this Fixed Expense Worksheet help me manage my expenses?

By taking a point in time look at your actual expenses and outgoings, you can see what you’re paying for regularly. With credit cards and automated payments it is easy for unwanted or unnecessary expenses to sneak in. This is a big thing, especially with a lot of Software As A Service (SAAS) products. You might be paying for seat access for team members who are no longer with you. Or you could still be subscribing to software you haven’t used for a long time. Using this worksheet gives you the opportunity to evaluate whether you really need to continue with that expense, or not.

What is the key benefit in using the Fixed Expense Worksheet?

The major benefit is that this gives you an objective way to stay organised and in front of efficient cost control. Using this worksheet helps you to easily identify areas where costs can be reduced which leads to an almost instant improvement in cash flow. It is objective because we are asking you to assess whether you think that the expenses are Essential, Worth It or they’re just a Nice to Have. This is then overlaid with a rating category of 1-5 depending upon whether it’s easy to change through to part of core operations. The outcome from this ranking and rating, gives you an immediate target for cost management.

How frequently should I run my expenses through this Worksheet?

This should be done at least once per year. Any more and it might not be that useful. Costs do change over time but if you do it too regularly you may become too close to the numbers to be able to really focus on the savings. Not to say that cost management shouldn’t be part of the day to day, just that this formal review process just might be done more effectively once a year. That said, it is an easy process, that once you get the hang of it can easily be done in less than half an hour – it might end up forming part of your six monthly business review process.

Will the Fixed Expense Worksheet help me save money?

Yes. You get a clear view of your fixed expenses all in one spot. This means that you can really look at what you’re paying and make a decision about whether those costs are still an essential for your business. If they aren’t, and there isn’t too much of a hassle to change you can just get on the phone or online and make the change and save money immediately.

---