Live within our means / Wan Noorli Razali

‘Live within your means' is a famous idiom which is actually a fundamental financial principle that emphasizes the necessity of spending less than what one earns. This practice is not merely a personal finance strategy but a crucial aspect of maintaining financial stability and mental well-being. Adhering to this principle can prevent debt accumulation, promote savings, and ensure long-term financial security. Firstly, ‘live within our means' helps prevent the accumulation of debt, in today’s consumer-driven society, it is easy to fall into the trap of spending beyond one’s income through credit cards and loans. This behaviour can lead to significant debt burdens, high-interest payments, and financial stress. By spending only what we can afford we avoid these pitfalls and maintain a healthier financial state.