When you’re living within your means, you’re earning more money than you’re spending, which allows you to save more for your financial goals and provides a cushion in case of emergency. Understanding your cash flow is an important part of living within your means.
Before you set a financial goal, you should know how much money you make after taxes and understand your expenses. This helps you set a reasonable budget so you don’t spend more money than you make and adjust as needed.
5 steps to financial wellness