Reduce Your Spending
Once you have created your monthly budget, you may discover that you don’t have as much money as you thought you did. If your spending exceeds your income, you must find ways to either get more money or reduce how much you spend.
A way to cut spending is to keep an item in your budget, such as going out to dinner, but reduce the number of times you eat out each month by one. If you apply this strategy to a few items, the savings really can add up! This activity shows you just how easy it is to take a “one less” approach to your spending. For each category listed, select the activities that you believe you can apply to downsize your financial life. You can update the estimated savings amount for each activity to reflect your actual expenses.