One of the most important metrics of living today is the cost of living. How much you spend every day affects every other aspect of your life.

The cost of living is an important metric to measure at all levels of income. The higher it is, the quicker we deplete our income.

Many people would be surprised if they were to get an accurate description of their cost of living. It can be very exorbitant.

Anyone at any level of income can keep their cost of living down using the following ways:

Track Your Expenditure

First and foremost, if you want to keep your cost of living down, you will have to measure it. Keeping track of your expenditure will allow you to get an accurate picture of where you spend your money.

Once you know how much you spend on what expenses, you can start removing the unnecessary ones. A serious evaluation of your lifestyle will also be necessary here.

You should create an excel spreadsheet or carry a notebook where you note down every expenditure you make. Compile them weekly and then study them.

One thing people find out by tracking their expenditure is that they spend too much on frivolities. Once you cut them out of your budget, you can keep your cost of living sufficiently low.

Create a Budget and Stick to It

You will need to create a budget if you want to keep your cost of living low. A budget is a plan on where you will be spending your income.

A budget will function as a guide to your expenditure. You should first include the necessities like rent, utilities and food among others. Creating a budget will also give you a good picture of where you plan on spending your money.

The key to creating a budget is to stick to it. It will require a tremendous amount of discipline to not borrow money or stray from your budget. However, if you can stick to it, your cost of living will reduce substantially.

Get a Cheaper Cell Phone Plan

One of the biggest expenses most people have today is their mobile phones and what they pay to use them. Tracking your expenditure is a great way to discover how much you pay for your cell services.

One way you can reduce your cell phone expenditure is to get a cheaper cell phone plan. It will significantly help you to save money. You will have to make some serious changes to your life to accommodate a cheaper cell phone plan.

There are many other cell phone subscriptions that may seem miniscule but they add up over time to substantial sums. You should also cancel them if you want to keep your cost of living low.

Take Care of Your Goods

We all have items that we hold dear and would feel absolutely crashed if they were to be stolen. However, if you diligently watch how you treat these things, you will discover that they are not prized possessions at all.

It will lead to them being spoilt or damaged and costing you a lot in repairs. In some cases, they may completely disintegrate and require replacement. It can add up to a substantial sum out of your income.

Therefore, if you want to keep your cost of living low, you should take care of the things you own. It costs less to maintain them if you do and the savings will improve your life tremendously.

You simply have to stop viewing your things as replaceable. You should also stop constantly thinking of getting new things which leads to ignoring the ones you have. It is especially so of luxury items that cost too much for your income.

Get Out of Debt

Getting out of debt is one of the best decisions you will do for not only your life but also your financial health. Unfortunately, many people are in so much debt that they cannot even envision a debt free life.

Paying off your debt is one of the hardest things you might ever have to do but the benefits are monumental. It will add a significant financial margin of safety to your life.

The payments you might be making monthly on debt are some of the highest expenses you have. Moreover, you might be paying more than you think without tracking it.

If you can reduce all other expenses and get out of debt, keeping your cost of living low becomes very easy. 

The above are a few effective ways that anyone can use to keep their cost of living low. None of them are easy though some might be harder than others. Start with the easiest to you and work your way to the hardest.