Tip of the Day: Fixed Expenses

by Dual Income No Kids on February 3, 2009 · 0 comments

One of the simplest ways to build wealth is to keep your expenses steady over time.

If you keep your expenses fixed over time while your salary gradually increases, you are bound to build wealth over time. Keeping expenses relatively fixed also makes putting away the extra nearly effortless. You can automate everything so you don’t even notice it missing from your pay check.

For example, my expenses remain nearly the same now – making $75k and largely supporting our household – as they did back when James & were both working full time and I was making $40k. Obviously this indicates that I was at the top of living within my means – though I was still saving about $600 a month back then as well.

Follow this tip of the day and you will thank yourself!

Miel

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