A cost reduction program is great, but takes time. Here are some things you can do right away.
Simply put, a dollar today is worth more than a dollar tomorrow. Translated into goods and services, this means something that costs you a dollar today will cost you something more than a dollar tomorrow. Except in rare times of deflation, the value of money theory is in action every day. When costs go up, they go up incrementally, little by little almost every day. There's no fanfare, no announcements, and the daily increase is so small that we hardly notice. Yet, when all these increases are tallied at the end of the year, it's a big number.