I haven’t really written a financial related blog in quite some time and I feel that while this is always a topic of interest, proper money management is also a much needed life skill. As important as it is to amp up your salary or to find multiple streams of income, someone can make all the money in the world and not know how to manage it or overspend it where they do not have much money at all. That is why it is beneficial to know how and when to cut spending but to do so without feeling deprived so that you can still live your life in abundance.
Which leads me to the point that although it sounds like an oxymoron to preach about having an abundant life but then you have to cut back on spending money, the truth is that you can actually do both at the same time. For one, it is important to be thankful for what you currently have because practicing gratitude actually attracts more abundance into your life. Also consider that if you are happy with what you have, you will likely be spending less money on things that are not a true necessity which is a good thing because that means that you will be spending less money on things that you do not need.
Everyone has different areas in their lives that they are willing to spend more money on and things that they do not care about or prioritize as much. I would suggest establishing what areas that you can cut back on and the ones that you are willing to splurge on. For example, for me personally, I think it is a waste of money to buy lunch all the time or to purchase coffee daily so I do not spend much money on these items as I prefer to save the money and make my food and coffee at home. On the other hand, I know that there are people who find it to be quite enjoyable to buy their lunch and/or coffee on a daily basis because it is a luxury to them and just makes their lives more convenient. My point is, what I might label as a “waste of money” might be something that is very valuable to another individual so that is why I said that everyone needs to determine what they like to splurge on and then what areas that they can save their money on. This way you will have a balanced approach to your spending where you can have the things that you really care about but then you can also save money as well by cutting back on the things that are not essential to you personally.