Decrease Expenses Or Increase Income?

I have been giving a lot of thought recently to the problems of making ends meet in these tough times. I have been lucky enough to increase my income substantially over the last several months, but I have also increased my expenses as well. Percentage wise, I am saving just as much as before.

I sometimes wonder if I would be better off trying to save more, but see a slightly lower income, or if I should continue trying to increase income, even if my expenses continue to balloon. It’s a tough problem and there probably isn’t any real solution for it.