Debt has a way of creeping up on us. One day we’re charging our Visa to buy a new shirt, the next we’re swallowed up in credit card debt. Or worse, we own a home that we can’t afford and we’re barely making ends meet.If debt has you anxious and uptight, it’s time to make some basic, simple changes to your spending and budget (before it gets any more out of control).Living within your means (or even better, below) is a simple strategy where you spend less than you earn. There’s really no secret to this, just common sense.Spending more than you make is NOT living within your means. If this is the case, you’re essentially giving your hard earned income to someone else so they can become rich while you live paycheck to paycheck.Seven Out Of 10 Families In America Live Paycheck to Paycheck
True financial independence means getting out of debt and staying out. If you’re living paycheck to paycheck and one paycheck is missed, your bills will go unpaid. You need a better plan.It will take commitment (from both of you), monthly planning and a little education. Making conscious decisions on where your money goes and managing how you spend it should be included in your plan.Your beginning steps require you to create an emergency fund and pay off your debt. After that, it’s making smart choices by cutting corners and being intentional with spending your money.
Here are some tips to help you spend within your means:
- Pay With Cash
- Purchase Used Instead Of New
- Make Your Gifts
- Plant A Garden
- Barter
- Use Coupons
- Take Your Lunch To Work / Send Lunch To School
- Eat At Home
- Freeze Meals
- Make A Budget
Financial success doesn’t require a mathematical (thank God) or financial education. It’s empowering and actually quite fun to be in the drivers seat. Once you have a plan, you’ll be well on your way to financial success.
