4 Ways To Apply the DOGE ‘Way of Life’ to Your Personal Finances
Written by
John Csiszar
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Amber Barkley
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Elon Musk, the wealthiest person in the world, is a man of many titles. For those keeping a running tally, you can currently count him as the CEO of Tesla, SpaceX and X. However, one title he no longer holds is being head of the Department of Government Efficiency (DOGE).
The purpose of the department is to cut out waste from federal government spending and boost efficiency and productivity. Though Musk may have left unceremoniously, causing a slight rift with President Trump and his White House administration, Musk still believes in the mission statement of the department. “DOGE is a way of life, like Buddhism… You wouldn’t ask the question, ‘Who would lead Buddhism?'”
In other words, Musk was saying that now that he had already put the “religion” of DOGE in place, he was no longer needed to helm the endeavor. As long as the office continued to follow the principles he championed, it would continue to function. Here are four ways you can use the philosophy behind DOGE to clean up your own financial life.
Track Your Expenses
It’s nearly impossible to try to cut costs and wasteful spending without tracking your expenses. This is one of the primary principles of DOGE, and it applies to personal finance, as well.
Without seeing where every dollar of your money goes, you can’t tell where you are overspending — or even where you are spending at all. You might be surprised to learn just how much money you are shelling out for nights out, streaming services or clothing unless you actually begin to track your expenses.
Once you see in black and white where the money’s going, you can start to get control of your finances.
Eliminate Unnecessary Spending
Once you’ve tracked your expenses, you can begin cutting.
Your fixed, necessary costs, like your rent or mortgage and utilities, will be hard, if not impossible, to reduce. Start instead with your discretionary expenses, such as the amount you spend on travel and entertainment. If you’re really in a hole financially, this is where you can likely find some meat to cut from the bone, whether it’s those overseas trips you have planned or your nightly visits from DoorDash.
Even if you’ve got a handle on your overall spending, there are likely some expenses that are unnecessary and can be unlimited. But it can be a much less enjoyable life if you cut out all of your “wants.”
Each person has to find their own proper balance between eliminating spending and still allowing for little luxuries. The same is true with DOGE. The government isn’t hell-bent on eliminating all spending, just the “extra fat” that it can trim from its budget.
Build a Better Budget
Your budget is your road map to finding that balance between saving and spending. A good budget will have a line item for all income and expenses.
It’s one thing to spend a few hundred dollars per month on eating out and streaming Netflix if you’ve covered all your expenses and socked away enough money to fund your retirement account. But if you’re struggling to cover your rent and have to choose between putting gas in your car and running your air conditioner, it’s time to find areas to cut costs.
Use Tools for Fraud Prevention
One of the ways that DOGE is looking to improve government efficiency is to use AI and electronic tools to weed out and protect from fraud. You can use these types of tools, as well, to help protect your financial life.
From two-factor authentication for your financial accounts to alerts on your credit cards to a freeze on your credit report, there are plenty of ways to help protect yourself from identity theft, fraud or unauthorized access to your accounts. Just as with DOGE, these tools can help prevent any financial losses.
Caitlyn Moorhead contributed to the reporting for this article.
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