Spend less than you earn is a simple concept and yet the most difficult to implement as well.
The only way to save money is to spend less than you earn. This is the one thing that separates those creating wealth from those who live from payday to payday. Your ability to save is determined not by your income, but by your spending. There are couples on six figure incomes who can not save, and people on benefits who can. To start saving, decide how much you wish to save and deduct the money from your income as soon as you receive it, then use these following tips to help reduce that spending we provided here.
- Choose how you wish to use your money
- Get proactive about managing your money
Any unexpected expenses are covered by using a credit card and there is no money left over for long term goals. REACTIVE money managers let their money control and limit their lives. PROACTIVE money managers control their money and use it to enable them to fulfil their lives.
- Grow your own green vegetables
- Decide what’s important to spend your money on
- Do grocery shopping once a week with a list
- Improve your health as well as your budget
- Take your own lunch to work
- Get a handle on ‘leaky bucket syndrome’
- Don’t renew subscriptions for non-essentials
- Save petrol
- Stop using your credit card
- Set aside a small amount of money each week
So these are some tips to spend less than you earn.Hope you'd like it.Do you have any other idea to make this concept?Wish to share it with us?Then just use the below comment box.