This is one of the golden rules of living a financially successful and stable life.
Spend less than you make. It’s that simple. If you find yourself consistently spending more than you make, it is time to determine where you can make cuts in your budget so you can live within your means.
:: Spending less than you make will offer you the following benefits:
- Provide you with money to save for your future
- Decrease your financial stress
- Help you save for the future
- Limit or decrease the debt you have or owe
- Propel you towards financial peace
Once you have created your budget, you will understand where and how your money needs to go to stay within your income levels.
Spending more than you earn will keep you stuck in a vicious debt cycle and keep your net worth negative.
What can you eliminate from your spending habits starting today that can help you start spending less than you make?
In a recession, you must be cognizant about where every dollar is going; this is not the time to be wasteful or frivolous.
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Affirmation: I choose to be the most positive version of my past self today.
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