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How to Live Below Your Means [and Love It]

  January 20, 2022  |    #Eliminate Debt

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Live below your means

Many folks think that getting more and more will make them happy, and they never quite catch their bliss. Find out why less is more and how to live below your means to reach your bliss. Start living below your means faster with the free 7-Step Credit Card Debt Slasher here.

What percentage of millionaires are self-made?

Why do we ask that question? Because most people think millionaires made it easy, but most didn’t. They just did this one thing really well.

Having to live below your means sounds a little ‘Depression-Era’, but it’s critical for any financial success. On this Queer Money®, we talked about how this principle affects everyone – wealthy and poor, black and white, gay and straight and everyone in between.

Living below your means is such a powerful principle that it takes down many seemingly successful people. From MC Hammer to Vin Baker to Nicolas Cage, we share examples of celebrities who famously lost all their riches because they didn’t live below their means.

So, it’s not an income problem for most people. If it’s not an income problem, it must be a spending problem.

Hear how easy it is to live below your means:

Principle 2 of a debt free life: Live below your means

We were two 30-something financial services professionals making decent money, telling people how to manage their money and living in a basement apartment and buried in credit card debt. It wasn’t until we started to respect this principle that we turned our financial lives around.

When we realized that living above our means was costing us $10,000 a year in credit card interest payments and that number was growing, we realized that we were living abundantly. We were living unconsciously.

True abundance came for us when we pay off all our debt, stopped paying those high fees and started living below our means.

We share keys we learned about how to live below our means while we paid off our $51,000 in credit card debt. We discussed several tricks to help you start to live below your means and to increase your means.

Watch below rather than listen to this Queer Money®:

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Get more help to become debt free:

5 Building Blocks of a Happy Gay Life

We’re David and John Auten-Schneider, the Debt Free Guys and hosts of the Queer Money® podcast. We help queer people (and allies) live fabulously not fabulously broke by helping them 1) pay off credit card debt, 2) become part- or full-time entrepreneurs and 3) save and invest for retirement.

2 responses to “How to Live Below Your Means [and Love It]

  1. I couldn’t agree more with living below your means! It’s old fashioned but works. For me living below my means has given me the ability to pay off my house! This will no help me grow even more wealth and increase me means in the process. Great tip and couldn’t agree more!

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