How to Save 50% of Your Income with 35 Tips

Living on half of your income allows you to save the rest of your money for something specific. Many people chose to save 50% of there income for retirement purposes.

Good Debt vs Bad Debt

They are either planning on saving as much money as they can in order to retire early (a movement called FIRE – Financial Independence Retire Early) or they are running behind and need to catch up.

Good Debt vs Bad Debt

Why Do You Want to Live on Half of Your Take Home Pay?

Some habits and frivolous spending need to change in order to live on half your income. Commitment and mindset are top priority actions in order to get the job done. Set a time frame and get to work.

What Needs to Change to Save 50% of Your Income?

Saving 50% of your income involves some commitment. Paying yourself first – as soon as your paycheck hits your account is the perfect way to make sure these things get done before you forget or life happens and the money just disappears.


You really need to be in the right mindset to take on this challenge. You need to understand that the majority of the things you buy, you don’t need. You will also need to find ways to cut back on paid daily living activities to fit your expenses in the new budget. I have a whole bunch of tips to help.


Before you start saving half your income, you need to know where your money is going. By taking a look at your online banking or receipts, you will easily be aware of how you spend. This will make it easier to know where the spending holes are.

Track Your Spending

I do this a couple times per year. I will call auto insurance, sell phone providers, and Sirius XM at least once per year to get a better deal.

Negotiate Bills


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