Financial stability? If you get the answer then you'll make a fortune
I read somewhere that you should treat saving money like trying to lose weight. Instead of knowing where every calorie goes you need to know where every £/$ goes.
I know pretty much what bills I need to pay every month and I know near enough how much money I'm going to earn. I take off the bills, I take off something for savings, whatever is left I divide by 4 and that's what I have to spend each week. I track EVERYTHING I spend on an app on my phone that tells me how much of my weekly allowance is left. If it runs out before the end of the week I go hungry (you only make that mistake once).
It takes discipline but it keeps me financially stable.
Other tips:
- buy less and buy better. One expensive, well made item beats a dozen pieces of made in China crap
- become vegetarian. Cheap veggie food is a LOT better than the cheap shit meat that supermarkets sell. I can make three days quality food for what it costs for one day of not very good meat. I'm still a carnivore, just not at home.
- cut alcohol
- quit smoking
- make use of Ebay. Good for very good clothes if you want to put in the work
Financial stability means a little bit of pain until you get used to it. After a couple of months you don't even notice it. Seriously, the quality of my life has gone up since I started being REALLY careful with money. After six months of spending less I've got a better life.
But don't be a martyr with it. Life is for enjoying.