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Expenses Vs. Income

Edzky_18

Member
Nowadays there are a lot of talks about saving money by doing the Income - Savings = Expenses. But in reality, it is very difficult to follow the formula, especially when you are just an average or meager earner. I think that formula is for high earners only. Are there other tips on saving money which are more applicable for low earners?
 

Omar1292

New member
It’s the same equation, you have to increase your income or decrease your expenses as much as possible. The tips I can give you is how to decrease your expenses like renting a smaller place if possible, using a cheaper way of transportation ( if you are already doing that , you can even walk for some distance which can save money and be better for your health) and eating homemade food instead of fast food and take aways.
 

KatieC

New member
I find one of the best ways I can save money is to make a plan/budget and stick to it. Also, thinking into the future will help. For example, I have to travel for a wedding in a couple months so I already have those expenses (hotel, bridesmaids dress, gift, etc.) on my mind. I also save money at the grocery store by planning meals and sticking to my list.
 

Edzky_18

Member
I find one of the best ways I can save money is to make a plan/budget and stick to it. Also, thinking into the future will help. For example, I have to travel for a wedding in a couple months so I already have those expenses (hotel, bridesmaids dress, gift, etc.) on my mind. I also save money at the grocery store by planning meals and sticking to my list.
Oh, I'l try to do that... a week's menu perhaps. I dont usually make one, but I'l consider it. Thanks for the tip! :)
 

Edzky_18

Member
It’s the same equation, you have to increase your income or decrease your expenses as much as possible. The tips I can give you is how to decrease your expenses like renting a smaller place if possible, using a cheaper way of transportation ( if you are already doing that , you can even walk for some distance which can save money and be better for your health) and eating homemade food instead of fast food and take aways.
You're right, I think I need to do better with the transportation and eating out. I can lessen my expenses over that areas. Thanks!
 

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