1. Live Below Your Means

You should never spend more than your total earnings. As your income increases, keep a simple lifestyle; save and invest the difference. That way you won’t fall victim to lifestyle inflation. If you live below your means and adopt a frugal lifestyle, you’ll save money, have less stress and improve your general well-being.

2. Negotiate

Personal finance management is crucial, so always negotiate where possible. Upper middle class people never leave money on the table. Ask for that discount, and when you have to, shop around. You could save hundreds by negotiating your cell phone bill or rent.

3. Don’t Buy Take Out or Eat Out

Ordering delivery from DoorDash or eating out is a waste of money. There are fees that go along with DoorDash that will actually cause you to spend double what your meal costs. Going to a restaurant will cost you dinner, parking and a tip. Make trips to the grocery store. You’ll save money and eat healthier. Avoiding takeout and eating out can lead to substantial savings over time.

4. Create and Stick to a Budget

People who have money create a budget to achieve their financial goals. That’s how they know to live below their means. Keep a chart of all your income and all your expenses. Determine what’s a needed expense and what is just a “want” expense. Ensure your income is more than your expenses. If not, look at what you’re spending money on and adjust. You’ll stay on track with your finances by creating and sticking to a budget.

5. Set Up Automatic Savings

If the money automatically comes out of your checking account into a savings account, you probably won’t touch it. Just incorporate that into your budget. Choose a high-yield savings account to earn even more money through higher interest rates.

Setting up automatic savings can contribute to a more secure financial future by ensuring consistent contributions to your savings and fostering long-term wealth creation.

6. Buy Basic Clothing

Buy basic clothing instead of the latest trend or designer. That doesn’t mean buying cheap, but it does mean don’t try to buy a designer purse when a non-designer bag is just as stylish. Instead, purchase classic clothes that don’t go out of style and always buy quality over quantity. Shopping at thrift stores can help you find quality clothing at lower prices.

7. Network

Build solid relationships, either through business or through clubs. This is an investment that will serve you well over the years. Surround yourself with knowledgeable people. That doesn’t mean you have to be best friends, but keep them in your circle. Not everyone has the same networking opportunities, but building relationships can still be beneficial.

8. Delay Gratification

Resist the urge to impulse buy. Don’t splurge on unnecessary expenses. You need to look at the long-term goals. Resist the urge to shop online, this can lead to splurging.

Regularly auditing and canceling unnecessary subscription services can also help delay gratification and save money.

9. Pursue Knowledge

Be an avid reader. Read finance books and learn about how finances, investing and real estate work. You’ll be able to understand and take advantage of opportunities if you can identify them.

Online marketplaces can be a valuable resource for finding affordable educational materials.

10. Surround Yourself with Frugal People

Make friends who prefer walking over a fancy gym membership. Choose friends who would rather have a movie night at home. Then you can take turns going to each other’s houses. Dinner in, instead of a restaurant, is the kind of friend you want.

Surrounding yourself with frugal people can help you achieve a secure financial future.