Top of main content

Live within your means

A woman relax using laptop in the living room; image used for HSBC India Live within your means article

Where possible, it's important to 'live within your means' to help you manage your money.

Many adults reported that their income did not always cover their living costs, and some had to borrow to make ends meet.

Here's how to get started

  1. Make a note of everything you spend each day, over a month. Include everything, from your daily commute to the snack for the journey home and regular payments like your rent or mortgage, and utility bills. Track your finances and monthly spends through Online Banking or your mobile banking app. Set up alerts to notify you of when certain payments are made each month, or receive a notification when your balance is below a particular amount.

  2. At the end of the month, add up all of your expenses and subtract this total from your take home pay. If your monthly expenses come to less than your take home pay, you are living within your means.

  3. If you aren't living within your means, don't worry. Take time to reflect. There are plenty of things you can do to take control of your spending. Start by using the record of your spending to identify which expenses, if any, could be reduced or avoided.

Financial wellbeing

A little girl wearing paper wing; image used for HSBC India Free up funds article

Creative ways to reduce your expenses

Father and son playing in the park; image used for HSBC Build emergency savings article

Put money away for those unexpected events

A woman talking on the phone; image used for HSBC India Avoid excessive borrowing article

How to recognise the signs and what to do next

Disclaimer

This publication has been issued by The Hongkong and Shanghai Banking Corporation Limited (HSBC), India, Incorporated in Hong Kong SAR with limited liability, for the information of its customers only. This publication does not constitute investment advice or an offer to sell, or a solicitation of an offer to purchase or subscribe to any investment. The information herein is derived from sources believed to be reliable and the concerned Information Provider(s) have duly authorised HSBC to use such information provided by them. Whilst every care has been taken in compiling the information, HSBC and the concerned Information Provider(s) do not guarantee, or make any representation or warranty and accept no responsibility or liability as to its accuracy or completeness and shall not be liable for damages arising out of any person's reliance upon this information or any action taken or not taken as a result of any material contained in the publication. Expressions of opinion are those of HSBC and the Information Provider(s) only and are subject to change without notice. HSBC has not independently verified any information provided by the Information Provider (s) or that has been derived from the sources believed to be reliable by HSBC. Opinions expressed herein do not have regard to specific investment objectives, financial situation and the particular needs of any specific person who may receive this publication. This document is for circulation in India only. No part of this publication may be reproduced or stored in a retrieval system without the prior written permission of HSBC. Any liability is accordingly expressly disclaimed by HSBC, its officers, directors and employees.