I’m always amused by advertisements claiming 50% off or 75% off of a product with a strong proclamation that you will SAVE money!  You can easily save 110% by not shopping at all; you get to keep 100% savings of not shopping and you save another 10% in gas, vehicle maintenance, tolls, parking and other “shopping” related expenses.  Part of my strategy, like everyone else with a finance blog has already pointed out, is to spend less than you earn.

I must admit, however, that the higher your income the easier it gets to spend less than you earn and this seems to escape many people.   I won’t hit you over the head with the “spend less than you earn” mantra because I think overall, while a good strategy, it is wholly unrealistic for most people.   All too often, co-workers, friends and family I speak with aren’t living lavish lifestyles flushing money down the toilet; they struggle in large part because their income levels aren’t keeping up with the cost of living: medical expenses, insurance, taxes, and inflation; all these things take their bite and it is unrealistic that you’ll frugal yourself into lower medical expenses, lower insurance, lower taxes and lower inflation.
I will say that in addition to “spend less than you earn” you need to INCREASE your INCOME!  Preferably, having multiple streams of income to offset expenses should be your goal.

How do you increase your income levels?

Invest in your education!  Whether you go back to college for an undergraduate degree, a second undergraduate degree, a graduate degree or other professional development such as industry certifications, the world is full of limitless possibilities.