The Only Way To Build Financial Security Is By Living Below Your Means: Here’s How To Stop Spending More Money Than You Actually Have

baranq - - illustrative purposes only, not the actual person

It’s no secret that we’re living in an era where, thanks to social media and the internet, it’s so easy to fall into the trap of spending too much money on things we don’t need.

This obsession with sharing our material items and boasting about how much better we feel once we’ve bought ourselves “treats” online is becoming dangerous to our spending habits. 

Often, we forget the famous saying, “Never spend more than you earn,” and many of us tend to do the opposite when we get wrapped up in buying superficial things.

If you’ve recently found yourself panicking in the days before getting your next paycheck, pushing your spending too far, dealing with credit card debt, or having nothing in terms of savings, you’ve likely been living above your needs.

The key to being financially secure is living below your means. Does this mean you have to hoard away your money and live every day like you’re on an episode of “Extreme Cheapskates?” No, but it does mean you should stop spending money as if you have an endless supply of it.

Here are a few ways to live below your means and stop spending more money than you have.

Look back on your spending habits

Do you dread looking at your bank account? If you do, that’s usually a sign that you struggle with spending too much to the point where you’re almost ashamed to see how much you’ve spent. It’s time to rip off the band-aid and evaluate your spending history to see what you’re putting too much or too little money towards.

Create a budget

baranq – – illustrative purposes only, not the actual person

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