How to Live With Less

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In order to live with less, a person must establish a budget that addresses both fixed and variable expenses. Discover how to avoid spending money on extraneous items with advice from a registered financial consultant in this free video on money management.

Part of the Video Series: Money Management
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Video Transcript

How to live with less. It's a question that's popping up onto a lot of search engines in America today because we are in a recession. Not only a small recession but a severe recession that could last deep into 2009 and possibly beyond. We have up to this point been an economy and a country that's been tied to living large and living with more than we can really afford. Bigger houses, bigger cars, bigger everything. It's hard to ween yourself off of that lifestyle and learn to live with less but it can be done. And the benefits to that means that you'll have wealth at the other end of life because you're not spending so much on extraneous items. Make sure that you develop a budget, that's the starting point of this whole thing. And develop your expenses both fixed and variable, make sure that you earn as much income as you can possible make based on your skill set and retire that debt as soon as reasonably possible. And then you too will be able to live with less and do it in a mindful fashion. This is Patrick Munro talking about how to live with less.


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