Jeanne Lee, Author at Financial Avenue

Spending less than you earn is one sure path to financial security. But that doesn’t have to mean a spartan lifestyle. You can still enjoy yourself while living small.

Focus on the benefits. Having a financial buffer makes you the boss of your money, instead of someone who scrambles until payday. It gives you the power to coolly handle an unexpected car repair or medical bill, save for retirement and fund your dreams, whether that’s a Craftsman-style house or launching an Etsy business.

“Being frugal doesn’t mean you’re cheap. It means you want to invest your money in things that really matter,” says Lydia Senn, a lifestyle blogger at Frugal, Debt-Free Life.

Financial experts often recommend living on at least 15% less than the amount you earn. We asked several for their best tips on how to live below your means without feeling like you’re missing out.

Be your money’s boss. The act of assigning a job for every dollar can be empowering. The popular 50/30/20 budget recommended by consumer advocate Sen. Elizabeth Warren, D-Mass., divides money into the categories of needs, wants, and savings and debt repayment.

“Make financial choices for the month in the quiet of your own head, or with your partner, in advance — not in the moment. That way you can feel great about your spending,” says Charlie Bolognino, a certified financial planner in Plymouth, Minnesota.

Save off the top. Divert money from each paycheck before you’re tempted by it. Once you start, it becomes painless to save through 401(k) paycheck deductions at work, or automatic monthly transfers to a savings or investment account.

“Start small and add a percent or two every time your income goes up,” says Leon LaBrecque, CEO of LJPR Financial Advisors in Troy, Michigan.

Pay yourself. When you finish paying off something, whether a smartphone, car or college education, continue making the same monthly payments you’re accustomed to — but direct them to yourself. Stash the money in an interest-bearing savings account, and let it accumulate. The next time you want to buy something, you can pay cash — and feel the opposite of deprived.

Live off one income. Many dual-income families naturally budget their lifestyles based on money that two jobs bring in. But consider the benefits of making a conscious choice to live off just one salary. If it’s possible, arranging your household costs so just one person’s pay covers the bills provides significant financial freedom.

Earmark the second paycheck for maxing out retirement savings, investing or paying off debt. It also provides flexibility for life events like an unexpected job loss or having one parent stay home with young children for a time.

Cut meaningless expenses. Are you eating out too frequently, subscribing to boring cable channels or paying for unused memberships? Eliminating costs you don’t care about frees up money for things you truly enjoy.

Try this: Write down what you value in life. Then look closely at your last few financial statements. Do your purchases match your values? “There are usually many things we could go without, but we buy them without even thinking,” says Jared Paul, a certified financial planner in Latham, New York.

Right-size your home. Hold back from buying the most expensive house the bank says you can afford. Instead, buy the small fixer-upper and make the house your own, says Diane Manuel, a certified financial planner in El Segundo, California. That way you can enjoy your nest without feeling stretched by the costs of homeownership like taxes, insurance and maintenance.

Drive used. Do you really need that brand-new car that loses 20% of its value as you drive it off the lot and comes with a $500 monthly payment? Purchasing a previously owned car, and paying cash, means you skip the stress of an auto loan on top of other expenses of car ownership.

“Remember, your car is only transportation. Used cars from rental agencies are good” to buy, Manuel says — “low mileage and under warranty.”

Pay less interest. If you carry balances on high-interest credit cards, consider consolidating your debt to save on interest. With good credit, you might be eligible for a balance transfer credit card at 0% interest for 12 months or longer. Just watch out for transfer fees, and transfer only an amount you can afford to pay off before the introductory period expires and the rate jumps.

Or refinance with a low-interest personal loan from a credit union, bank or online lender. With less interest to pay, you’ll be free of debt and on to other meaningful goals faster.

The article How to Live Below Your Means Without Feeling Deprived originally appeared on NerdWallet.

Debt doesn’t have to be a way of life.

Take it from those who’ve been there. Whether it was dealing with credit cards, student loans, car loans or other debt, the people profiled in NerdWallet’s How I Ditched Debt series tackled thousands of dollars of debt and resolutely paid it all off.

To inspire you, here are seven tips from some of their stories and the steps you can take on your own debt payoff journey.

1. Make the most of every dollar

Get inspired: Stephanie Stiavetti wanted to trade her tech job for a career in food and cooking, but $64,000 in student loan and credit card debt were holding her back.

Stiavetti’s plan involved putting almost every extra penny toward paying off debt. “I still went out with friends and enjoyed the occasional vacation, but I did so with an eye toward budget spending and found ways to make the most of every dollar instead of indulging in expensive luxuries,” she says.

Do it yourself: Building a budget is key to any financial plan, but especially when you’re paying off debt. Choose one that allows some fun, so you don’t feel deprived and overindulge.

2. Work some side hustles

Get inspired: By age 23, Michelle Schroeder-Gardner had three college degrees, a new husband, a house in Missouri and $38,000 in student debt. She was determined to pay it off as quickly as possible.

Her strategy? Earn more. “Cutting your budget is great, but there’s only so much you can cut. You can always try to make more money,” she says.

In addition to her day job, Schroeder-Gardner ramped up several side hustles, including writing a blog, selling items from around her house, taking surveys and being a mystery shopper.

The long hours — up to 100 per week — were tough. But “just watching my debt go down kept me motivated, because I could see the end goal,” she says.

Do it yourself: If taking a second job sounds exhausting, make it a short-term stint to earn enough for a few extra payments toward debt.

3. Align your spending and values

Get inspired: Like many people trying to keep up an “appearance of having it all,” Lauren Greutman and her husband, Mark, bought an expensive home, drove luxury cars and spent freely. When Lauren found herself hiding $600 worth of new clothing from her spouse, she admitted the spending was out of control.

“I racked up $40,000 worth of debt behind my husband’s back and had so much shame,” she says.

In addition to downscaling their lifestyle, the Greutmans’ breakthrough came when they assessed their spending against their values. Lauren’s advice: Make a list of everything you value in life and then list all your spending from last month. If the lists don’t match, get your spending in line with your values.

Do it yourself: Seeing bills for things that don’t really matter to you? Catch yourself from falling into big-spender territory by heeding signs of overspending.

4. Use the power of extra payments

Get inspired: No amount of debt is comfortable for Jackie Beck. When the amount she owed hit $147,000, including a mortgage, student and car loans, and credit cards, she became obsessed with paying it off — all of it.

She did so largely by making extra payments toward her bills. “I became consumed with paying off my student loan. I earned extra money — through online surveys, freelance writing and odd jobs from Craigslist — so I could make small additional payments,” she says. “I figured out how much faster I’d be done each time I sent in even a tiny payment.”

5. Rely on yourself

Get inspired: After a divorce, Carrie Smith Nicholson faced $14,000 in car loan and credit card debt, an amount that triggered her resolve to alter her financial situation.

“I was on my own for the first time in my life and … could barely afford a decent apartment. There was no one around to help me out of this financial hole, so I knew I had to help myself,” she says.

Nicholson took a second job at a tax office, working nights and weekends, and lived on two-thirds of her income. “During tax season I worked seven days a week without any vacations or time off. It was tough, but I had a goal to be debt-free within a year,” she says.

Now debt-free, Nicholson continues to lean on herself, managing a blog that provides her main source of income.

6. Consider consolidation

Get inspired: When David Weliver had to decide whether to pay his rent or his credit card bill in his 20s, he felt immense guilt. “After years of carrying obscene amounts of debt, it was the first time I couldn’t meet a payment obligation,” he says.

To tackle his $80,000 in student loan, car loan and credit card debt, Weliver set up a plan that included debt consolidation. His credit union gave him a low-rate loan for around $5,000. He was able to get another loan for $12,000, at a favorable interest rate, to pay off his highest-interest credit cards.

“I made the fixed personal loan payments, and whatever was left over I put toward the higher-rate APR cards, which I paid off before the lower-rate cards,” he says.

Eventually, the strategy paid off. “I was able to pay off all of my debt in a little over three years,” Weliver says, “and I’m very glad I got out of debt at the stage of life that I did.”

7. Know your ‘why’

Get inspired: Brian Brandow’s debt epiphany struck in 2010 when he told his family there would be no vacation that year. Instead, it was time to face $109,000 in debt, including five maxed-out credit cards.

The Brandows created a budget, cut expenses and used a debt management plan, eventually becoming debt-free after 50 months of repayment. Brandow’s three children provided the motivation he needed to stay focused on debt repayment.

“I didn’t want to disappoint my family,” he says. “I wanted to provide better for them.

“You’ll need to have a clear reason to want to get out of debt, because it’s going to be hard. It will take sacrifice. You must be mentally prepared. Having a ‘why’ will help keep you motivated.”

The article 7 Tips for Paying Off Debt — From People Who Did It originally appeared on NerdWallet.