THE BROKEN WALLET

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Money Saving Tips That Actually Work! 

Living below your means is about building a life where money does not constantly sit in the back of your mind, and not needing every paycheck to land perfectly just to breathe. Which, of course, in order for this to happen, you have to spend less than you bring in.

But some of the money decisions that affect whether you are able to do this do not always start in your bank account. They start in your head.

1. Start Making Decisions as Your Future Financial Self

Most of us make money decisions as the version of ourselves that wants relief right now. The tired version. The stressed version. The version that just wants one nice thing because the day was a lot. But there is one thing you need to ask yourself that can change everything.

“What kind of person do I want to be financially?” Not how much money you want. Not what you want to buy. Who you want to be?

If you want to be someone who does not worry about money, understand that that version of you probably makes different choices than the current version of you does.

They are not panicking at the end of the month. They are not afraid of unexpected expenses. They are not relying on credit to feel okay.

So when you are about to spend, pause and ask: Would my financially calm self make this choice?

Sometimes the answer will be yes. And that is okay. Living below your means is not about never enjoying your money. It is about spending in ways that do not create stress later.

Other times, the answer will be no. And if so, it is very important that you listen and do not try to convince yourself otherwise. In many cases, that ‘no’ is a sign that the purchase will not move you closer to the life or person you want to be.

2. Treat Money Like Something You Are Training For

One reason people give up on living below their means is because they expect instant results. They want to feel financially secure immediately. But that is not how it works.

You do not walk into a gym once and come out strong. Instead, you train, you repeat boring movements, you rest, you mess up, and you try again.

Living below your means is just like this. It is financial training.

Some weeks will feel easy. Some months will feel frustrating. Sometimes you will do everything right and still feel behind. But that does not mean it’s not working. It means you are building endurance.

So instead of thinking, “I failed because I overspent,” start thinking, “Okay, what did I learn?” Maybe you learn that certain situations trigger you to spend, or that your budget is unrealistic, or that you are trying to change too much too fast.

People who live below their means long-term are not special. They just stayed consistent through the boring middle when nothing exciting was happening yet.

3. Stop Paying for Who You Used to Be

A lot of overspending has nothing to do with wanting new things. It comes from holding onto old versions of ourselves.

Even though you say you want change, you might still be low key spending like:

• The version of you who had a different income

• The version of you who needed external validation

• The version of you who used spending to cope

Life may be more expensive, but rising costs do not automatically mean you are powerless or that nothing can change. For some people, the issue is not just inflation. It is decisions.

For example, some are spending thousands more than they technically have to every single month because of the standards they are holding onto. So it is possible for them to live somewhere safe, clean, and comfortable for less, but they don’t want to because it feels too average or does not come with all the bells and whistles.

Additionally, they could drive a lower priced reliable car and save hundreds each month, but they don’t want to give up the upgrade.

They could also take fewer trips a year and still have meaningful experiences, but they feel like anything less than all the time is deprivation.

And no one is saying you cannot enjoy these things. Living below your means does not require a complete lifestyle downgrade. But it will often require finding the middle ground – the version of your life that still feels good but no longer involves outspending your reality.

4. Make Parts of Your Life Boring on Purpose

If everything in your life has to feel exciting all the time, you might always overspend.

People who live below their means intentionally make parts of their life boring. And not because they are settling. Boring does not mean joyless. It means predictable. And predictability is what allows your finances to breathe.

This is where systems come in. These people are not just more disciplined. They have made overspending inconvenient.

They do not wander the aisles and make impulse decisions. They go in with a list, stick to it, and know what they need. There is no debating snacks or treats at the checkout. Their money has instructions before they even grab the cart.

5. Stop “It Is, What It Is” Thinking

This thinking can keep you stagnant. And yes, some things are out of your control, but you do have control over some aspects.

At the end of the day, the goal is to create some gap between what you are bringing in and what you are paying out, even if it is only a small gap to start.

Start by canceling one monthly habit or expense and transferring the difference into savings. Let’s say you cancel two subscriptions and save $30 a month. Each month that’s $30 in savings, and yes, it makes a difference. It builds a habit and gets you into a routine.

Next, if you reduce your grocery bills by as little as $10 a week, that adds another $40 in savings. Now you are at $70.

Then start paying yourself first, starting with only 5 percent of your take-home pay. Before saying that is impossible, have you tried? If not, challenge yourself.

If 5 percent is too much, problem solve and do 2 or 3 percent. You might surprise yourself. Besides, if you don’t move that money into savings, you’d probably spend it elsewhere on things that do not really matter.

But don’t stop there. Next, start growing your income slowly. If you find a job making just $3.50 more an hour, after taxes, that could potentially be an additional $4,000 a year or $300 a month. If you pay off a car or other loan, start paying yourself that money, or at least half of it.

I am not saying it will be easy, but you have to start somewhere because complaining without action does not change anything.

Add to the list, or let us know your go-to money saving strategies…