12 Ways to Keep Your EXPENSES Below your INCOME (Part 2)

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Here are 4 more of the life lessons we have learned about how to live within what you earn . . . .

4) CREATE & LIVE BY A BUDGET. Dave Ramsey, whose helped millions of people find financial freedom, says that the most common trait of those who are successful at managing their money is that they live by a budget. A budget simply tells your money where to go instead of wondering where it went.

5) BUY GENERIC AT THE GROCERY STORE. The reality is that the same companies package the name brand and the generic for most products. The name brand company is not necessarily selling you a better product but they are selling you marketing hype. And we buy it! A couple of examples: Cereals – generics are generally 25%-50% cheaper. Flour, sugar, salt, spices and other single-ingredient items are all the same. Government regulations require the same production and storage for generics as they do for brands, so buying a label is like giving money away for something you use every day.

6) BUY CLOTHES OUT OF SEASON. Yes, you may not be as quite as hip. But you get to choose whether to be the hippest and in debt, or a little less hip and financially free! Also, go to TJ Maxx and Ross – great deals on many of the same clothes.

7) WAIT ON LARGER PURCHASES. Anything over $100 wait at least 24-hours before you buy it ($100 is our threshold). I never purchase anything the first time I look at it online or in the store. Much of the time after I wait and pray, I realize that I don’t need it or I can get it cheaper elsewhere.
Anything over $500 wait at least a month. If you really need it, then you will still really need it in a month. If it’s just an impulse it will go away.


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