5 Ways to Save Money and Take Control of Your Personal Finances

5 ways to take control of your personal finances

Tired of being stuck in the middle class? You don’t have to be, the only person who can change your current situation is YOU. For many years, middle class citizens have whined, cried, and moaned about not making enough or not having enough money. What they don’t realize is, they’re in that position because of the choices they make. It’s honestly really easy to live comfortably and get out of the paycheck to paycheck lifestyle. There’s no magic formula either, all it takes is common sense and a willingness to do whatever it takes. This article will be a harsh reality but some of you need to hear it in order to take control of your personal finances.

What Is Your Goal?

The first thing you’re going to want to do is figure out what your number 1 main goal is. Do you just want to save a little extra money on a monthly basis, or do you want to work towards creating a passive income and work towards a substantial amount of wealth? Deciding what you truly want out of your personal finance goals will greatly help you when it comes to taking action and making it happen.

The Truth

The thing is, most of you are middle class and hate being in the situation you’re in. In addition, most of you are either stuck at a factory job, trades work, or just deep in debt. I’m here to help you get out of that mess. My goal is to ultimately help you get out of the rut you’re in. I’ve been there, I know exactly what it’s like.

Think about this statement real quick, “the middle class is just an excuse to compromise”. If you really think about it, the only reason you’re stuck in the middle class and moving backwards instead of forwards is because you’re just compromising. Compromise doesn’t do anything for you, it just keeps you stuck in the same place for years on end. Below are 5 ways to save money and take control of your personal finances.

1. Quit “Going Out” on the Weekends

I get it, you work a back breaking job and all you can think about is going out on the weekend and doing something “fun”. But think about it this way, what is that going to do for you long term? Going out on the weekend and spending your money isn’t going to do anything except take money out of your pocket. In essence, you’re just continuing to move backwards instead of forwards.

Think about how much money you could easily spend by “going out” on the weekends. Go out to eat with yourself and likely, at least one other person, you’re spending at least $75-$100 minimum between food and drinks … and for what? Absolutely nothing. All you get out of spending money on the weekends is an empty pocket and an extra 1,000+ calories thrown into your body. Again, you’re just moving backwards, not forwards. Get out of the habit of going out on the weekends.

2. Don’t Buy Cars You Truly Can’t Afford

This one makes me laugh quite a bit actually because I see it time and time again. For some reason, so many “middle class” people have it set in their minds that they absolutely NEED a nice, expensive car. I’m not quite sure what the reason is but all their doing is once again, moving backwards instead of forwards.

Example: I personally know someone who makes $17/hour and in a span of 6 years, they’ve gone through 3 brand new cars. Sorry but, this person will be in debt for most of their life because of it. Making that little bit of income and buying a new car every 2 years is poor decision making.

If you’re making $25/hour or less, you CANNOT afford a $30,000 car. Just because you might have a little bit of extra money after paying your bills, does not mean that you can “afford” the extra cost for an expensive car. Plus, think about it this way, what is your $30,000 car doing for you? It’s likely that it’s NOT making you money, so why spend that much on it? Forget the “status quo” and start taking control of your personal finances.

If you’re making decent “middle class” money and you have extra cash after paying all your bills, invest it into yourself. Make that extra money WORK FOR YOU so that you can make more money off your your extra money.

3. Don’t Rent an Apartment That Costs More Than What You Need

Nobody needs a fancy apartment. How is a fancy, modern, higher class apartment going to help you make more money or help you get out of debt? It’s not. I’m not sure how it is anywhere else in the United States but if you’re in the mid-west and paying more than $1200/month for rent on an apartment, you need to move. Anything higher than that is just absolutely ridiculous and burning holes in your bank account.

Think about it this way. If you’re currently living in an apartment that’s costing you $1600-$2000/month and you decide to take control of your finances and move to a cheaper place, you’ll save a bunch of money. Not only that, but you’ll be able to use that money to once again … invest in yourself and form a passive income stream.


4. Quit Spending Money on Memberships You Don’t Need

Gym memberships are a perfect example of this. Not only do you waste your time going to the gym for 2 hours a day, but your also wasting your money. I mean really, how are your big biceps going to make more money for you in the long-term? They aren’t, and you’re in denial if you think they will. Large biceps are not a form of passive income, and they won’t help you get out of debt or make more money. To put it simple, big muscles are only temporary whereas money is long-term and money is what you really need.

I get it though, you have an ego to feed, but this is where decision making comes into play. You have to really WANT to make more money in order to have it. So if you honestly think that going to the gym every day is more important than taking control of your personal finances, then you’ll never get out of the situation your in.

5. Taking Extravagant Vacations Once or Twice a Year

I know some families who take two or three vacations each year and I honestly have no idea how they do it on the income they make. The only thing I can think of is that their putting the entire trip on a credit card. This is absolutely ridiculous, if you’re putting a vacation on a credit card, then it clearly means you cannot afford it. The only thing you’re doing here is putting yourself deeper in debt which is not what you want to be doing.

Here’s a better idea, commit to not taking a vacation for at least 3 years. During that 3 years, spend all of your spare time doing nothing but building a source of passive income. Take that passive income and create even more passive income. What your doing here is A) growing your wealth and B) working toward becoming financially independent from using credit cards and loans etc. By the time those 3 years are up, you’ll have all kinds of extra income to go wherever you want … GUARANTEED.

Wrapping Things Up

There are literally thousands upon thousands of ways for anyone to save their money and grow their wealth. However, these are the top 5 that I seem to notice on a daily basis among  the middle class. Your main goal/objective should be to grow your personal wealth for the long-term. Doing things the way you have been are not going to get you anywhere expect for deeper in debt. Don’t compromise for middle class, take control of your personal finances and make that money! Creating a passive income stream on the side and creating more income streams with those profits is surely your best bet to wealth and freedom.


I know and understand that some of you disagree with me and that’s okay. That’s what separates the middle class from the financially dependent and always will. The longer you stay in your current position, the worse your chances are at getting out.

Did you like this article? Do you think these tips will help you take care of your personal finances? I’ll leave the comments open if you’s like to weigh in on this article.

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2 Responses

  1. Emily says:

    I feel like you made some good points here (especially about cars).

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