The idea of living below your means is one of the oldest when it comes to your personal finances or how to manage your money.
To be honest, it is easier said than done.
In simple terms, to live below your means, you should not spend more money than you earn each month.
If you are spending less money than you make each month from you salary or income, it means you live below your means.
In reality, it can be very difficult to maintain.
However, living below your means can help you achieve your financial goals.
Here are some ways or strategies you can use to live below your means.
Living below your means does not mean sacrificing the quality of life.
It also does not mean you are denying yourself. However, it is a great way for you to manage your finances.
This is essential for your long-term financial well-being and security.
You will be required to be disciplined and dedicated as well as acquire new habits of managing your personal finances.