5 Frugal Rules to Set For Yourself
These are 5 rules that I have set for myself that have helped me do more with what I have. Even with a low income, these rules can help you make the most of your income so that you have more to enjoy later. 1. Live below your means This is a virtue that my father hammered into my skull from day 1. In today's economic environment, it is easy to think that you can afford something that many of us actually can't. For example: Statements like... "You can afford the monthly payment" "Take a little out of savings and replenish it next month" "You'll never get an opportunity to do this again" These statements may be true, but they are used to make you think you can afford something that you can't. The simplest way to look at it is that you want to have a personal net profit every month. Net Profit = Revenue - Expenses Tracking your spending will help you find your monthly revenue and also see your monthly expenses. Cut out t...