SIMILAR ARTICLES & IDEAS:
With the perspective of an economic crisis in 2020, some of us already have to rethink our spending habits to make ends meet. Others may feel more financially secure. But when recessions come, they...
Whatever income you are earning right now should be treated like it’s temporary.
Treat your current income as if it might need to stretch for as long as possible. It doesn't mean you need to cut back on everything, but you might need to consider cutting some of your expenses so that you can put more money into savings.
Saving money now is worth more than spending money later. This advice applies to any budget item that you could spend less on now.
Even if it is a really great deal, remind yourself that cash in hand now is worth more than an unnecessary purchase.
Take a hard look at how much you are spending day to day. Every time you spend money, write it down as it happens in a little notebook or log it into an app.
Get a cheaper living situation: Live in a smaller house that needs less stuff to fill it or get a roommate.
The personal finance rule of thumb is to spend no more than one-third of your income on rent.
If you can read, you can cook. If you can read and cook, you can use meal planning and prep to save time, money, and improve your health.
Base your menu for the week on two things: what you already have in the house and what is on sale at your supermarket.
A consumer spends money and follows trends while an investor puts capital to work and takes advantage of trends.
Consumers will remain consumers, even if their income increases.