2million - My Journey to Financial Freedom

A Personal Finance Blog      ANNOUNCEMENT:2million has moved to www.2millionblog.com.     

Tuesday, May 30, 2006

Temporary Assignment Expense Minimization Strategies

Even though I have agreed to take a temporary assignment for my employer which will significantly increase my living expenses during the period, I have a couple ideas on how I can minimize the damage:

1.) My employer will cover the costs of moving myself and my stuff up for my assignment. It makes sense to me to try and convince them that they can save money by assisting with furniture rental instead of moving all my stuff. It will save me the hassle of moving and could help reduce my monthly expenses if structured correctly.

2.) I think the best opportunities to reduce my housing costs would be to find someone with a house that is looking for a roommate. Apartment complexes typically have fixed rent prices, leases, and other requirements. People who rent portions of their houses could be more flexible on the price, lease, or terms.

3.) I am going to try and rent a room or at least some portion of my house out while I am gone. While I probably won't cover the mortgage payments, it will help offset some of the monthly expenses for my house.

4.) Temporary Assignment Tax Deductions. I have been reading up on this tax topic for months and I am doing my best to ensure I will have my duplicate living expenses (from the temporary assignment) qualify as a tax deduction. I hope to dive more into this area later.

3 Comments:

  • Have been busy, I feel that having a child is a blessing, yes I am married and I have had my first child to inherit my millions. I just feel that when you have the first child your wife tends to get needy and want you to spend all the time with them which I have told them "Time is Money", if I spend too much time with you I can't make more money.

    Yes, I am obssessive about money, because I am not the richest man in the World and that pisses me off. Even if you are rich you may never beat other people that are more successful than you, I admit that, and I admire them for it (the rich and successful).

    So for your minimization of expenses it is a good idea but you should look more towards increasing your income.

    Anonymous Millionaire.

    P/S I will only write in when I am free and that will get less and less. Learn from what I have stated.

    By Anonymous Anonymous, at 2:48 AM  

  • Hi, I forgot where you were being assigned to, but try craigslist.org to find housing. It's a good site for each community it represents.

    By Blogger Theparanoidinvestor, at 12:32 PM  

  • Nice post. Great blog. Thanks for the share. It was very interesting and informative. Keep posting. I follow you.
    Clone Script| Super Bowl 2012|

    By Anonymous Web Design Company, at 12:55 AM  

Post a Comment

<< Home