After retiring my credit card, I was finally living within my means, i.e. not spending more than my income. It was a major victory, but there were still thousands of dollars in credit card debt looming in the background, adding on interest each month I paid only the minimum payment. My next step toward a debt-free life was to attempt to live below my means (to spend way less than my income) so that I could make much larger payments on the credit card. That meant a major budget cut.
I know, I know, budget cuts are buzz-kills. They mean less of the “fun stuff” that cost you money. They are also our mercy when we want to get a handle on our finances.