Top of main content

Live within your means

A woman is doing yoga in the living room; image used for "live within your means" article.
Learn some tips to stay out of debt and save more.

Lets start by defining your net income, this is the amount you earn after tax deductions.

Now to live within your means, you need to make sure that your monthly expenses are less than your income.

A good way to establish if you are living within your means, is to keep a daily record of where your money goes during a typical month.

Here's how to get started

  1. Make a note of everything you spend each day, over a month. If you carefully track your cash outflows using a mobile app from your bank or other expense trackers on the app store, you'll feel more in control and will be able to see where your money really goes.
  2. At the end of the month, add up all of your expenses and subtract this total from your net income. If your monthly expenses come to less than your net income, then you are living within your means.
  3. Take time to reflect. If you aren't living within your means, don't worry. Start a deep dive into your expenses to see which ones can be reduced or avoided.

Get started with your financial wellbeing

Learn how HSBC banking products can help you with your financial wellbeing.

HSBC Debit Card | HSBC Credit Cards

Stay tuned

HSBC hosts financial wellbeing seminars led by expert speakers. These sessions cover essential tips to help you make informed financial decisions and achieve your financial goals with confidence.

Back to top  

Next steps

Financial wellbeing

A girl is looking up and smiling on the street; image used for "free up funds" article.
Creative ways to reduce your expenses.
A kid and his mother are playing with bubbles; image used for "build emergency savings" article.
Put money away for those unexpected events.
A woman is using tablet in the workshop; image used for "avoid excessive borrowing" article.
How to recognise the signs and what to do next.