Where can I find some good LBYM tips? (Live below your means)?
Answers:
there are some decent tips on all of these sites. fool.com also has a discussion board, but you need to join to access it.
http://www.bankrate.com/brm/news/pf/2001...
http://www.fool.com/specials/2000/sp0004...
http://www.mymillionairefriend.com/fruga...
Suze Orman
You just have to make a budget and stick to it. There are several online budget tools available.
When budgeting, separate essentials from discretionary spending. You may WANT certain things, but if you can live without them they go under discretionary. For example, a cell phone is nice, but not essential. Food is essential!
Check that you have sufficient money for the essentials - that includes food, utilities, rent.
Next set aside some money (even if it's only a few dollars a week) as savings and PROMISE yourself you'll never touch that money unless there is an emergency, like you lose your job, break your leg etc. The "need" for cable TV does not constitute an emergency!
Finally, from the money that is left, decide which of your discretionary items you want. Maybe the cell phone, maybe a car, maybe cable TV - whatever you can pay for out of the remaining money.
Do NOT charge anything to a credit card, unless it's something you already have in your budget. You MUST pay off the credit card in full at the end of every month.
Once you have a good budget developed, and get into good spending habits, living within your means will seem quite easy.
You can re-write the budget for the discretionary part any time you like, but you must still end up with zero debt at the end of the month; you must cover all the essentials; and you must save.
http://www.providentliving.org/content/d...
Stuff on this site is from the Church of Jesus Christ of Latter-Day Saints, but most of the info on here is practical advice on budgeting, etc.
http://feedthepig.org/
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