The most common question I get about living a frugal lifestyle is, “does it actually make you happier?” People wonder how denying yourself free spending could lead to anything but misery.
I am no longer restricted by my income because I know how to spend and how to save. I actually feel more freedom and less stress, because finally I am able to meet my obligations and save for my future.
While a frugal lifestyle may eventually lead to less stress and more money, it’s never easy to change your spending habits. Try doing it without a reason and you’re likely to fall on old ways.
It’s important to use actual expenses when you’re working through your budget. Use the past three months of bills so you have a good average of what you’re paying out each month.
Now total all your earnings from all sources. After you subtract your earnings, this is the amount you have left over at the end of the month. Go over your budget and determine where you are willing to make sacrifices to get out of debt.