If you are earning well, you might enjoy your life with lavishness, but if you are in tight budget or if your earning is small, you should downgrade your lifestyle to save money. For instance, do you really need to live in 2BHK apartment when you can live in 1 BHK apartment? Downsizing your living space could save you on rent. Well, it certainly feel nice to spend money on fancy restaurants or designer clothes, but if you are not easily affording, why now try living frugally to save money. When you save money you can invest for your future and build a better life down the road.
How to Save Money By Downgrading Your Lifestyle
- Thread starter Mika
- Start date
Reducing your cost of living is also another hack to hack your finances and reduce your expense, I think the golden rule for finance is to live within your means, that means you should not overspend and not also live frugally, you can make provision for saving and other important expenses.
The reason why reducing your cost of living works is that it allows you to save a great deal, you'll find out that you have surplus at the end of the month and you can choose what to do with such money, staying away from credit helps too in keeping your savings.
The reason why reducing your cost of living works is that it allows you to save a great deal, you'll find out that you have surplus at the end of the month and you can choose what to do with such money, staying away from credit helps too in keeping your savings.