Do you need to save money or get financial stability through discipline? Living under your means is one best thing you can implement for improved financial matters in your life. You will be able to see change and the good part is that you will live a good quality of life with less stress. Living under your means entails that you spend less than what you make and that's how most of us go wrong. We are unable to maintain that discipline of living under below our means due to so many factors that maybe understood by yourself.

live under your means
Photo by Jose Phiri. Teacher Banda preparing a monthly budget.

so many subscriptions and unnecessary spending to impress people on social media. Does it really help to live a copied life from social media? Nowadays social influence is at its highest peak. We tend to get shaped by what we see or hear from other people. I therefore compiled 12 steps that will help you live under your means. It may not be easy to do so, its manageable all your need is focus and setting a financial goal.

Here are 12 things that can help you live under your means

1. Spend less than your income. 

Spending less than you earn is one of the best strategies to live within your means. This rule is straightforward if you've carefully assessed your profits and expenses.
Look for easy ways to cut your spending or come up with ideas for raising your revenue. Don't strive to complete everything at once; instead, start with the easier tasks. You need to understand that spending less than your income may not be easy due to many factor, however, the benefits will surely reward you greatly. You will never regret in your life.

2. Understand your income. 

Understanding your net take-home earnings will help you establish your spending restrictions. How can you live within your means if you don't know how much money you make each month?
When tracking your revenue, make sure to include all sources of income, such as side jobs, freelance work, and regular employment.
You may decide not to include this income at this stage due to the erratic nature of money earned from selling used items (online or at a garage sale, for example). Plan to allocate any erratic income to your financial objectives, such as retirement savings and credit card debt payback.

3. Monitor your expenses. 

Tracking your living expenses comes next after determining your income. You might be shocked by how much you are spending on particular categories.

You may make improvements right now by keeping track of your spending. It is a good idea to keep track of your spending for a few months because not all costs will occur each month.

You can start storing all of your receipts for the next three months now so you can keep track of your spending. Alternatively, if you frequently use credit or debit cards to make purchases, you can review your bank and credit card statements to see a history of your recent purchases.

4. Create and stick to your money plan. 

Everyone ought to have a financial strategy in place. This could be a budget (there are many different kinds) or a general rule of thumb.
All sources of income, savings, debt repayment, and accountability for living expenditures and other purchases are all part of a comprehensive strategy. If you're making a plan for the first time, you can think about using a budget (or budgeting tool) for a few months to better understand your finances.

5. Consider Increasing your income. 

Your ability to reduce living costs is limited, but there is no telling how much money you could make (within reason, of course). Instead of trying to starve yourself by cutting out valuable purchases, increasing your income can have a much more lasting impact.
Here are some suggestions for potential income increases:

  • Engage in a side business
  • Request (or bargain) a pay increase or a promotion.
  • Search for higher-paying positions in your industry.

6. Keep money for emergency. 

Putting money aside for emergencies might serve as a safety net in case an unforeseen need arises. This buffer has the advantage of preventing you from incurring debt to cover unforeseen expenses.
Regardless of unforeseen expenses, it is simpler to avoid debt if you have an emergency fund. Just make sure that you have enough money in your emergency fund to meet any unforeseen expenses or income fluctuations.

7. Consider decreasing your living expenses.

After analyzing your living costs for a while, you probably discovered some simple payments you could stop making. Do you still have to pay for a subscription you never use? Are there any bank fees you can avoid being charged? What additional expenses can you reduce?
Frequently, many modest expenses can be reduced or eliminated without significantly changing your way of living. First, try to reduce these costs.

8. Stop living a fake lifestyle.

Do you know what "keeping up with the Joneses" means? The Joneses are probably heavily indebted in order to support their lavish lifestyle. Not everything appears to be as it seems on social media or the surface.
Try not to compare yourself to others, it will only waste your time and money. If you can match your spending with your ideals, you'll be considerably happy in the long run. You'll be able to live within your means and spend money on things that make you happy rather than things that other people think you should buy.

9. Don't Rent an expensive house. 

One of the biggest costs in the majority of budgets is housing. The less expensive your lodging is, the more money you can save (or the less money you'll need).
Renting a property rather than purchasing one may be an appropriate housing option. It also refers to not acquiring or renting too much real estate. Really, all those extra rooms—do you need them? Whether you are renting a property or buying one, larger homes also cost more to maintain and insure.

10. Use good second-hand items. 

Many products are now available under good second-hand. Talk of cloths, smartphones, vehicles and a lot more that you can buy from the markets. Second hand items have prices reduced to half or more than the new one. You can save money from buying fairly priced items. Just make sure you get second hand items from a trusted source while maintaining a good quality of your life. Finding high-quality things could require some searching. However, the extra work is typically worthwhile.

11. Avoid impulse buying. 

Money can be saved and impulsive buying can be decreased by putting a delay between wanting to buy something and actually doing so.
The time between events can range from a few hours to several days. After waiting, if you still desire the item, you'll probably feel more at ease making the purchase. Another strategy to live within your means is to give yourself more time to save up for the item as the gap between purchases grows greater.

12. Learn to Save money. 

You can save money in a variety of ways without sacrificing your lifestyle or feeling deprived.
Can you bring your own lunch rather than going out to eat every day? Is it possible to work from home occasionally or carpool to the office? These are best two of the numerous methods you can reduce costs and save money.

Benefits of living under your means.

Truly speaking living under your means has many benefits. The fact that you are saving money for a major plan is a motivation on its own. the money you are sparing will make you happy each time you check your bank account balance. Additionally, living under your means will lessen your stress levels, help you save money, and help you plan for the future.


If your spending is in line with your goals, you won't feel deprived. The idea of never spending money is not included anywhere on this list and its impossible as long as you are alive. You might only need to spend a little more wisely. It will reward you eventually and  help you getting financially stable.