If you want to be able to save, live below your means, and if you want to be rich, live well below your means.
The concepts around money are usually very simple and straightforward but because the reality of application can be extremely difficult, most people need a gentle reminder on a regular basis.
The bottomline will always come back to whether you are able to earn more than you spend.
And there are two main ways to improve on your current situation: Firstly, the most common solution is to reduce your expenses, and secondly, the lesser talked about option is to increase your income.
I've always been rather lazy about my finances. I'm not materialistic and am not a spender in general. I'm still wearing work shirts which were purchased 12 years ago in Hong Kong, and I may buy not buy new clothes for three years at a time. This is not an intentional action on my part but due to the fact that I really don't enjoy shopping and I'm on the opposite end of the metrosexual spectrum (much to the dismay of my wife when I go to the mall with her in a torn shirt, beach shorts and flip flops...).
I was happy as long as my bank account remained in the green zone and did not make any serious attempt to save. Then 2010 came along and suddenly, changes started happening at a breakneck pace: getting my own apartment and moving in March, getting married in August and transitioning to a single income couple, and now with potential future developments on the way...
I'm learning the hard way that a lot of changes are needed this year if I'm going to be able to stay in the green because we have definitely been living above our means for the last half year.
The first step will be taking full ownership that we are living on one income and that certain sacrifices will need to be made because we cannot function like how a normal married couple starts out. I believe that we can do it with just a bit of tweaking and a whole lot of discipline but let's see how this goes over the near future.
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