Live Below Your Means
One of the best pieces of advice and most popular money management tips from older generations is to live below your means. Living below your means could mean a number of different things, from cutting out unnecessary bills to finding cheaper, comfortable housing to save money in the long-term.
Many older Americans who lived by that advice are now retired and own their own home (or homes) with minimal debt. Take the time out to find ways to make your life more cost-effective, whether it’s cutting your credit card bills by paying down more or finding a more affordable home where the mortgage/rent will be cheaper. The short-term investment in the present will pay off big in the future, giving you the opportunity to save more.