It is crucial as an individual who is striving for financial freedom to be able to recognize the different type of expenses in our lives.
It is a proven theory that it is easier to cut your expense than trying to earn more income.
In order to maximize profits, a manager will try to minimize expenses before trying to gain more revenue.
And we can learn from that. By recognizing our expenses and ways to handle them, we will be able to create more revenue in our lives.
This article will help you to do that.

According to Rockefeller diagram, the following ten expenses are the different types of expenses that exist in our lives. Be aware that certain individuals might have more expenses in their lives. In order for us to achieve financial freedom, always bear in mind that our main goal is to minimize our expenses.

Kindly spend some time reading through the different type of expenses. (Remember them if you have to)

1. Giving
2. Self
3. Taxes
4. Shelter
5. Household
6. Auto
7. Fun & Entertainment
8. Insurance
9. Debt
10. Business expenditures

In this article, I am going to talk about the first five expenses and in my next article I will talk about the next five.

Expense Category #1: Giving

Most people do not consider this as an expense. Some will even completely eliminate this and not have anything to do with it.
In the bible, Christians are encouraged to allocate ten percent of their income as a tiding.
Most successful people actually allocate ten percent of their income to benefit others.
If you were to think about it, it is making sense! We have to agree that there is some