Ever heard of living within your means? It sounds cliché but it’s a real statement and one that can help you live an overall better life.Now I am not unfamiliar with living beyond your means. I have been practicing this since I have been out on my own, however, after some soul searching and really thinking of where my cash was going, I started to wonder how long I wanted this cat chasing its tail routine to go on. Seems the more money I got, the more I spent.
Then, to go to work to pay for everything I can’t use or barely see was starting to get on my nerves. We spend more time out of our homes than we do in them because we are too busy making money to pay everything including the home.
We pay for insurance and car payments on vehicles we would not necessarily need if we stayed home. We surely would not need 2 cars if only one of us was working and we could probably make do with a cheaper vehicle instead of the car we currently have payments for.
The car insurance could be cheaper if it was an older vehicle or even if our mileage went down per year. Wear and tear and gas for the vehicle would all go down.
If we stayed at home, we could cook more and take out less because someone would have the time to cook it.
Why is it then that we need to do this to ourselves? I will tell you why. It’s because the more we make, the more we buy or should I say put on credit. We figure we have the money to make the monthly payments, then why should we not reward ourselves with toys and such.
Our short-term fun leaves in a long-term payment plan. If we paid off what we bought as quickly as we could or even saved up for it. That would be living within your means. Putting some aside could mean financial freedom in the sense that you could have a better way of managing your work time, as in working less, because you would not need it.
The good news is that it’s never too late to start this. And a good way of doing it is to start by cutting out what you have that you don’t necessarily need or sometimes even use.
Now I’m not saying to be a martyr and work day in and out cutting out every single thing, making your life uncomfortable and without fun. But do you really need 450 channels of which you only watch 2. Could you make do with a TV Box that lets you watch more specifically what you want? Do you need a landline and cell phones etc., or are you keeping these things because it’s easier than calling everyone to change it over to just a cell phone number.
Is there somewhere you could be shopping to help your grocery bill? Could you bring your own bags instead of being charged 5 cents for each one?
These are all little things that can add up to big savings at the end of the year. And it’s also a way to get you started in the right direction.
When your money starts to take you further and you are not waiting for the next pay drop, you might start getting addicted to the fact that you have money left and then maybe even to start saving.
Usually, I’ve seen financial organizers have you doing this all at once so it feels like you are going to drown under the million new changes you are making to save money.
I suggest you take on one thing and once that is done. Move on to something else. If you need a week’s break, then take it and start again. Remember to feel proud of yourself and share your good news in savings with people around you. Get support from family and friends. It’s always nice to be cheered on.
Before you know it you will have made 1000 small changes that end up in a 1000 big dollars back in your pocket.
So after the budget sheet I blogged about here yesterday is full and you have everything in eyes view, just look at each individual thing and ask?
Where can I save here?
And you can even google this.
Ex. How can I save on my cable bill?
Do lots of research. Take the time. All you have is to gain is money here. And if you can save a little of that, all you will gain is freedom and maybe more time to enjoy your life.