One of the heaviest things you can carry through life is a burden of debt. It's a drag.
To improve your financial situation you can generally do 2 things:
- Increase your income
- Decrease your outgoings
Option 1 can be great but often involves making huge sacrifices. Climbing the income ladder involves serious work and commitment. You are usually trading one problem for another.
Option 2 is usually the quickest and easiest and can often be done with minimal impact to your quality of life.
I'm not going to talk about how you can continue to spend money but cut 50 cents off the price by collecting coupons for 6 months.
I'm with Epictetus in this one:
Wealth consists not in having great possessions, but in having few wants.
Epictetus - Former slave & Stoic Philosopher
If we have fewer wants we can concentrate of achieving them.
- Limiting - Set yourself a smaller budget. Limits force you to think.
- Inspecting - Keep a close eye on your desires and your spending.
- Getting Rid Of - Throw out unnecessary desires.
- Harmonizing - Spend wisely on the purchases that you do make. Make sure they fit with your main life goals.
- Thanking - Appreciate more the things you already have.
That's my basic formula for frugal living.