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Living within your means

If the blanket is short, we need to learn how to curl up under it.

What do I mean?

In all the years that I’ve been teaching financial management, I can say that one of the greatest secrets to financial freedom is to live within your means.

When we start to live beyond our means, we begin to feel stressed, problematic, and depressed.


Because usually, it is the people living beyond their means that are deep in debt. We need to live within our means so that we won’t suffer later on.

How can we do that?

Here are my tips:

Identify your needs from your wants. There are things that we think we need but we really don’t. We need to set our priorities straight. Are branded bags and shoes more important for you than your child’s tuition? Identify the things that are important to you, and list them down.

After listing your priorities, create a budget plan. It’s not bad to buy branded bags and shoes for as long as it fits in your budget, and for as long as your other needs are not suffering because of it.

You can go shopping and do recreational activities, but again, it needs to fit in your budget. After making a budget plan, stick to it. Make sure that it’s realistic so you can easily and consistently follow it.

I believe that contentment is a major factor here. We should learn to be content with what we have. We should stop comparing ourselves with others. If a person has this, or has achieved that, it doesn’t mean that the same should be true for us.

I’m not saying that we should deprive ourselves. My point is that we should be thankful for the things that we already have, rather than complain about the things that we don’t. Gratefulness is the key.

Anyone who can be trusted with little can be trusted with much. I’m sure that as we become good stewards of what we have right now by living within our means, God will surely elevate, promote, and even increase our means.


Are you living within or beyond your means? What are your struggles when it comes to living within your means? Are you content with what you have?