Why Not Spending Is the Key to Budgeting
You have two ways to free up money for your financial goals: Making more or spending less. Neither one is better than the other, right? Wrong!
If 18 percent of your income goes to state and federal taxes, then for every extra dollar you earn, you can use only 82 cents to pay off debt or save for the future. But if you can save $1 of your expenses, you can apply all of it to your debt or put it into savings or investments.
Find out whether your employer offers direct deposit, a feature in which your check is deposited immediately into your bank account. Instead of a check, you receive a notice from your employer that the deposit has been made. You're more likely to save than spend if you use this feature.