Financial experts agree that it’s a sign of good financial health to live within your means – meaning you spend less than you earn and you avoid taking on too much debt. It allows you to save money – for emergencies, to invest and to save for retirement. It also gives you freedom and more joy than mindless spending will ever bring you.

Here are 21 quotes about living within your means that explain why it’s important to follow this healthy financial habit.

1. “Live below your means but within your needs.” – Suze Orman

2. “Just because you can afford it, doesn’t mean you should buy it.” – Suze Orman

3. “Focus instead on why you want to spend the money on this or that.” – Suze Orman

“Focus instead on why you want to spend the money on this or that.” – Suze Orman
“Focus instead on why you want to spend the money on this or that.” – Suze Orman

4. “I urge you to live within your means. One cannot spend more than one earns and remain solvent. I promise you that you will then be happier than you would be if you were constantly worrying about how to make the next payment on nonessential debt.” – Thomas S Monson

5. “There is no dignity quite so impressive, and no independence quite so important, as living within your means.” – Calvin Coolidge

6. “Work hard, save and live within your means.” – Bill Bailey

7. “He who buys what he does not need steals from himself.” – Swedish Proverb

8. “Don’t live beyond your means. Don’t buy more than you can pay for. Don’t expect to get rich quick. And don’t confuse salesmen for friends or advisers.” – Charley Reese

9. “We are living beyond our means. As a people, we have developed a lifestyle that is draining the earth of its priceless and irreplaceable resources without regard for the future of our children and people all around the world.” – Margaret Mead

10. “Live within your means but continually work on expanding your means.” – Otunba Akin Alabi

11. “Never spend your money before you have it.” – Unknown

12. “Live within your means. Keep your needs simple; enjoy small pleasures. Real value lies in what things mean to you, not in their cost or how they are valued by others.” – Michael Josephson

13. “Everyone defines (living within your means) differently because everybody’s propensity to take risk is different.” – Chris Cooper

14. “People who live far below their means enjoy a freedom that people busy upgrading their lifestyles can’t fathom.” – Naval Ravikant

15. “Financial peace isn’t the acquisition of stuff. It’s learning to live on less than you make, so you can give money back and have money to invest. You can’t win until you do this.” – Dave Ramsey

16. “Living on less than you make is a matter of controlling yourself, not a matter of math.” – Dave Ramsey

17. “Do not save what is left after spending, but spend what is left after saving.” – Warren Buffet

18. “The practice of thrift is not outdated. We must discipline ourselves to live within our incomes even if it means going without or making do. The wise person can distinguish between basic needs and extravagant wants.” – Marvin J Ashton

19. “Don’t live beyond your means. If you can’t afford something then save for it!” – Peter Moore

20. “Whatever your income, always live below your means.” – Thomas J Stanley

21. “Money does not dictate your lifestyle, it’s what you do to get it and how you manage your finances that determines your lifestyle.” – Wayne Chirisa

Until my next blog post, here’s wishing you lots of joy and happiness!

With love,


Hi! I'm Joanne. I’m a Canadian Chartered Professional Accountant (CPA, CMA). Money management is a life skill that I passionately believe all people need to learn. As an accountant, I love helping people understand numbers and money. At BuildingJoyAndHappiness, I share my tips to money management and make understanding finances simple.

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