Live below your means is to cut your expenses and expand your income. Living below your means is spending less than you earn, saving some of your income and having no debt that lets you financially secured.
When you live below your means it gives you the chance to expand your means by having enough funds to achieve your goals, you will live a comfortable life and not an extravagant lifestyle. Do not spend to show-off and stop thinking wealth is measured in material possession. Manage your money wisely so your money does not control you.
Living below your means helps you develop the ability to save money. Savings provide you with a cash reserve that enables you to resolve financial issue in hard times, and to do so without worry. It’s definitely a case of delayed gratification where you use the savings to buy investments or start a side hustle. Now you might be thinking I work hard for the money I earn; don’t I deserve to spend it? You deserve to but many of us take it to an extreme by spending beyond their salary and incurring debt.
When you have more money in your savings with little or no debt, you’ll worry less and sleep better at night. You’ll probably even work more efficiently at your job, because you won’t worry about paying your bills.
TO ACHIEVE THE GOAL OF LIVING BELOW YOUR MEANS, YOU NEED THE FOLLOWING:
- Know how much you make.
- Spend less money than you bring in.
- Boost your income.
- Save up for what you want to buy than collect it on credit.
- Have an emergency fund.
RAWLINGS BLOG 
This is something my husband and I have been doing lately. When we first got married, we had to figure out how our finances were going to work together, and it took us a long time to get used to living below our means. Thanks for sharing!
U try and do more.
my husband and i have really been working on this… it’s so important. great tips!
Ok
Great advice! So many people try to keep up with the Joneses and get into financial trouble! Good post!!
You are right.
Very informative and helpful post!
Thanks
I have always done well with this, which has come in very handy when things come up and I need quick money – it’s always there just in case!
A back-up.
Great post very informative thanks for sharing
Ok.
Great concept! People are usually surprised at how easy it is to save!
You are correct.
Well, agree and disagree. If you are living a calm life – those 5 pieces of advice are very good. But I would argue that instead of all 5 you can do only number 3 with fife time bigger effort.
Its all about your choice. Thanks
This is great! My husband and I really need to practice this!
I completely agree with this!!!
This is great :)) I need to practice this with my husband 🙂 Like the why you ride it down 🙂 With Love Jasmin https://lollipopkosmetik.wordpress.com/2017/09/28/winter-blues-nein-danke/
Fantastic post
Nice post
Some very good tips here. I do agree with most of them for most situations. Some I am more leaning on the fence. 🙂
Great tips!
I love the idea. In fact, I am trying to do better. But I am just getting to the concept of simply not spending all that we make and having some savings. Our next step is to try to trim that down to live a life less burdened with financial obligations. Thanks for reminding me of some of the financial goals I have set for our family.
U have just painted the walls with good advice, its a challenge that we must all take. Its a worthwhile sacrifice that produces success. Its an investment that yields a lot more gain…
Thanks great blogger, more grace
Simple, solid and sensible advice. Unfortunately far too many cannot live by it. Thanks for recent visit to my blog.
We continue to do that. Thanks too
Well written
It’s hard to live frugally, but so important. Great post!
Thanks
Loved the writeup
great post bro http://www.fooday.info
Wow…..this is one of the best article I have read in this month of October. Your wisdom is wonderful. Thanks for sharing.
I will love to share this article on one of my post on https://www.thepagemagazine.com in other to give my fans access to this article
You can do that but acknowledge me.
Simple and Brilliant.
Seems simple, but is so hard. We recently went on a fiscal fast to get ourselves back in order.
This is something my husband and I do! We had recently fallen off track with some big events this summer and we’re both feeling the strain. We are back on track and feeling more secure because of it. Thank you for the reminder!
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Thanks
Great Post!
Thanks
I needed this post. I’ve read both parts, and I really liked the tip about not competing with others. As a fashion blogger, it is so hard to resist purchasing items to stay competitive with other bloggers in my niche. I really need to be more fiscally responsible. Sharing and bookmarking this post.
Amber S. | http://www.thesuburbansocialite.com
i’m trying to live below my means. In the beginning it’s quite hard but now it’s just a regular thing to do
I have honestly found half of these things to hard to do in the past because I never seemed to make enough money and I had a huge debt to pay off . Now that it is way less I can focus on these things more and work towards financial freedom
This has been us lately.
Very wise words, sadly most choose to live above their means.
Great tips! I’m an ex-financial advisor and these are spot on!
Some really good advice there!
very nice
very informative! 🙂
That’s really a notable point. Thanks for saying these
Points to take into action.
Sorry me great pointers and could be put into practise. Thanks for the great information. Keep it up.
When you put into action, you see the result.
Thanks bro. Pls act on it to get result
These are great tips. It’s definitely a lifestyle change to live below your means, but it’s worth it! Thanks for writing to help others achieve financial success!
Living below your means is about truly changing your lifestyle. Thanks too.
Very useful article
Thanks. If useful you can link up my blog to enlighten people about it
If you have enough money to afford an investment or side hustle start-up, that’s a very good way to go. Especially when you’re in your 20s, a small investment can make a very big difference later in life.
You are exact. If you manage the small and invest well or start a side hustle you later grow big if well-managed.