Living stingy will be your friend, especially with high inflation making everyday things more costly. You don’t need a challenging economy to benefit from living cheap so that you can live with less and be happier.
You should understand your budget and financial situation. Use a free tool like Personal Capital to monitor your spending, budget, and net worth over time. It’s free and is a great way to understand your cash flow.
If you don’t have a budget, create one so that you understand your household’s basic living costs. Endless shopping and dining out without regard to saving money for now and long term is a sour recipe and will lead to disaster. I
Creating a budget is essential, so you know your income and costs before successfully understanding your financial situation to improve it with more savings. It is important to pick a budget method that works for you.
You can set aside no-spend days when you don’t spend on specified days. This strategy works for many people who designate a few days a month or a week to use cash or credit cards to buy discretionary items.