Tip 2: Cutting costs
We all only essentially need food, water, shelter, and oxygen to survive! With that in mind, work out the things in your life that are constantly contributing to your expenses. Whether it be a gym membership or cable TV, find out what exactly is contributing to your spendings and in what way you can efficiently cut these costs to reduce your monthly expenditure. A good tip is to use mobile applications, like Wally, Acorns, and Empala, that can help keep track of your personal finances. This will enable you to gain a clear and full picture of your spending habits and where you can cut your expenses.