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Tips For Living Within Your Means…Painlessly!

This post is from Jerry Coffey at Repaid.org. Enjoy! Living within the confines of your income is the best way to keep yourself out of debt, or at least hold your debt to a manageable level. Now that I have written that down, everyone will magically be living within their means in the morning, right? Maybe in cloud cuckoo land. Here are a few tips that may help you find a way to live within your income and begin repaying some of your debt. Where Does It All Go? In order to live within your income, you have to know how much you make and what all of your expenses are. A good place to start is to know what all of your fixed expenses are. Fixed expenses are items that you cannot change immediately. Little nagging expenditures like rent/mortgage, car payments, etc. Subtract that amount from your income and you will know how much you have available to commit to your variable and discretionary expenses or pay down debt. Become a Tracker Not of wild game, but of your expenditures. This is the first step in forming an effective budget. We all have areas where we spend money them ...

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