Spending Less vs. Earning More: Which is Better?

When it comes to personal financial success (whatever that means for you, whether it’s getting out of debt, putting more money in savings, or something else), spending less and earning more are two of the most commonly stated methods of reaching your goals.

Spending Less vs. Earning More: Which is Better?

Spending Less vs. Earning More: Which is Better?

Simply put, spending less is a way of having more income left over after your expenses are taken out. The same goes for earning more money. But which is better? The spending less vs. earning more debate is a hot one.

There are a lot of opinions out there and we’ll take a look at all of them before sharing our own below.

Spending Less

In many ways, “spend less than you earn” is the most basic personal finance rule of all. It is clear cut and basic. And it makes a lot of sense.

Spending less money than you make will allow you to free up quite a chunk. This is commonly done by cutting back on extras and unnecessary items. You know, things like cable television, a landlord, trips to the movie theater, lunches out, weekends at the bar, and shopping excursions.

You can also spend less money by grocery shopping more frugally, turning down the heat in the winter and the air conditioning in the summer, and walking or taking public transportation instead of driving.

There are a lot of ways to spend less money to save more money. And many of them are tried and true methods – they’ve been tested with a lot of success. There is little denying that many people can benefit personally from spending less money.

Earning More

On the other end of the spectrum is earning more money. Earning more income than you need to spend each month creates surplus money. It allows you to save without cutting back. It allows you to become “rich” without first being “poor.”

But earning more can be quite a bit harder than spending less. For starters, how exactly do you even earn more? The average person would have a tough time demanding a raise.

That’s not a bad place to start though. You should at least take a look at your job and see how it stacks up. Are you happy with it? Do you make enough from it? Could you find a better-paying and more enjoyable job? If so, you might want to start looking into a career change.

If you’re happy with your current work but feel that you should be making a little more, then there is no harm in asking your boss for a raise. But do it the right way and don’t jeopardize anything.

Another way to earn more money is to find extra work. In today’s day and age, this means earning money online for a lot of people. For other people, picking up work around the neighborhood, things like babysitting, dog walking, or yard work, is the way to go. And some people even go as far as picking up a part time job in addition to their current full time one.

When it comes to earning more money than you spend, you really have to go at it hard. There are a lot of ways to do it but they all take a lot of extra work. Luckily, many people have had quite a bit of success with this method of having more money.

Spending Less While Earning More

Here at Project Debt Relief, we think that one of the best methods to personal finance success is spending less while earning more.

Using this technique only requires that you spend a little less and earn a little more. It doesn’t require you to totally cut back and live like a monk and it doesn’t require you to become a workaholic.

Spending less while earning more means cutting back on expenses that you really don’t need to free up a little more space. It also means picking up a few online gigs or mowing a neighbor’s lawn every other week.

Even doing a few simple things like these can make a big difference in the financial lives of most people out there. It can help you round up more money to pay off your debts, it can give you more money to spend on yourself, or it can help you put money away in your savings.


At the end of the day, spending less, earning more, or spending less and earning more is up to you. The method that you choose should reflect your own particular situation and goals.

Do you want to be rich? Then earning more might be the best bet.

Do you need to pay off debt? Then spending less could be the way to go.

Do you just want to put more away in savings? Then earning more while spending less could be the ticket.

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