Live Within Your Means

Living within your means indicates that you are creating a life out of what you make, not what you owe.  It means living on the income you bring home, not on the money you can borrow.  It means being happy with what you have, not borrowing for what you do not have.  It is important to live within your means.  Learning how to live with the money you earn is a very valuable skill.

To successfully live within your means, you will need to identify your needs and your wants.  What are your future goals?  What are you willing to sacrifice to obtain these goals?  Below are some ideas to help you live within your means and even reduce some of your expenses.  You can then do what you want with the money you save…pay down a debt or build up a savings account. 

Some of the ideas may seem extreme, but may be necessary if you are experiencing a hardship.  Many of these ideas may help you to reduce your expenses and make it easier to live within your means.  Some of these ideas maybe ideal for a short period of time and some of these ideas may prove to be good changes for life.

“We buy things we don’t need,

with money we don’t have,

to impress people we don’t like.”

 – Mary Ellen Edmunds

Read more about it:

Slashing your Grocery Bill

Ask a Specialist:

            Holiday Budgeting Tips

            How do I adjust my thermostat for cold weather comfort and still lower my monthly heating cost?

            What is the best way to reduce my fuel costs for winter driving?

            With the increase in cost of utilities how can I conserve energy?        

When Your Income Drops…

            Take Stock of Family Resources 

            Take Stock of Community Resources

            Setting New Priorities for Spending 

Information Adapted from: “Tightwad Gazette” by Amy Dacyczyn; “The Best of Helpful Hints” by Mary Ellen Pinkham and Pearl Higginbotham; “Household Hints for Upstairs, Downstairs and All Around the House” by Carol Rees;  New Mexico University Cooperative Extension; and Utah State University Extension’s “Ask a Specialist” column, and “When Your Income Drops” series.