Spend less than you earn The first step to financial stability is simple: spend less than you earn. But in a world where we're constantly bombarded with messages to spend, save, and invest, it can be hard to stick to this basic rule. One way to make it easier is to change your mindset around spending. Instead of thinking of money as something that you need to spend as quickly as possible, start viewing it as something that you need to conserve and use wisely. When you make a purchase, ask yourself whether it's something that you really need or if you're just succumbing to a moment of impulse buying. Chances are, if you can wait a day or two before making the purchase, you'll realize it's not worth your hard-earned cash.
A simple 5-step personal finance plan
A simple 5-step personal finance plan
A simple 5-step personal finance plan
Spend less than you earn The first step to financial stability is simple: spend less than you earn. But in a world where we're constantly bombarded with messages to spend, save, and invest, it can be hard to stick to this basic rule. One way to make it easier is to change your mindset around spending. Instead of thinking of money as something that you need to spend as quickly as possible, start viewing it as something that you need to conserve and use wisely. When you make a purchase, ask yourself whether it's something that you really need or if you're just succumbing to a moment of impulse buying. Chances are, if you can wait a day or two before making the purchase, you'll realize it's not worth your hard-earned cash.