How to Live Below Your Means!

Every article on cutting expenses, saving money or frugal living talks about living below your means. What exactly does that mean? Who purposely lives above his means? I used to volunteer at a transitional housing ministry that helps people get back on their feet and have learned a few tips. Read on for some ideas!

Instructions

Difficulty: Moderately Easy

1. Distinguish between wants and needs. Needs are food, clothing, transportation and housing. They are not Coke, snack food, cable TV, newspapers, etc. When there is a crisis, bare bones decisions are necessary.
2. For one week, write down every penny you spend. Having accountability helps when you are trying to cut back. Decide from this moment on You will not pay full price for anything! Get an accountability partner. Two people are always better than one.
3. You do not have to give up the things that give you joy and satisfaction--just try to think of things that don't make you smile and give up those. There are thousands of things you do every day by habit that don't mean that much to you!
4. Order water when eating out. Split meals, eat out for lunch instead of dinner. Eat in one more night. Go for walks, use the library--make it a fmaily affair and a competition--who can find the most ways to save money!
   Remember what your Grandmother told you--if you can't afford things With Cash--don't buy them!

Tips & Warnings

• Scrutinize your habits
• Change your attitude
• Quit thinking the world owes you things
• Be Grateful for what you do have!