Living Well Within Your Means
Living Well Within Your Means
Living Well Within Your Means
More of us could stand to learn a thing or two about living within our means, which loosely translates not spending more than we take in every week, month, or year. It doesn't take a rocket scientist to figure out that if you are bringing home $3000 a month and spending $3100 in the same period, it isn't going to be long before you find yourself in a predicament.
If you're like me, you look around and ask, but what can I cut out? And many times we honestly don't see those things that we could do very well to eliminate. It becomes a matter of determining what is important and what isn't, and adjusting your lifestyle accordingly.
Okay, for starters, what will you spend if you go to a movie and buy snacks for your family? Given that most movie tickets are $10 or more, and a trip to the snack bar requires a second mortgage on your home, let's just say the amount will be.considerable. Now compare that to checking out a DVD from your local library and eating the snacks in your fridge. You just saved a wad of cash and you don't have to deal with all the self-absorbed, non-contributing zeros who oh so often screw up the movie going experience through loud conversation or cell phone use.
Stay away from the mall. Many of us like to go there just to walk around, or browse, or people watch, but it is usually that whole browsing thing that gets us in trouble, and few of us leave the mall without a bag of some kind in our hands. There are better and more cost efficient ways of entertaining ourselves.
Buy with cash. It is way too easy to whip out the plastic and buy what we will, taking the idea of paying for it and tucking it neatly into our back pockets until a later date to be determined. If you buy with cash, then you actually have to watch that cash disappear. You'll be surprised at how less likely you are to buy when this is the case.
When you find a better deal, don't spend what you save. Take the difference and pocket it, preferably in a savings account that is working for you. Simply channeling the money towards another purchase does no good for anybody. There are always better deals on cell phones, car insurance, internet or cable plans, etc. Always be looking for the one that provides the most savings.
Keep yourself healthy. Nothing drains a bank account quite like a good old fashioned medical emergency. Stay fit, lose weight as necessary, and try to eat right as often as possible. You'll not only save money on doctor and hospital visits, but you may actually reduce your insurance rates.
Stay home. This author freely admits to being hooked on the idea of "going out". Staying home sounds boring. Get out and live life, right? Unfortunately, much of what we now consider "living life" comes with a hefty price tag. Learn to enjoy staying home. Not all the time, but avoid going just for the sake of going. It will save you money.
Know that the rainy days are coming and be ready for them. I know it's impossible for most of us to sock away six to eight months' worth of savings like many financial advisers recommend, but you can put a little away here and there to carry you if you do hit a rough spot. This is infinitely preferable to finding yourself in dire financial straits and wondering how you are going to maintain an extravagant lifestyle.
Forget living on "easy street". Too many people today believe that they can fix a problem by simply throwing money at it when the only real solution is to work at it. Diet pills vs weight loss exercise routines, for example. There are no shortcuts when it comes to achieving lofty goals. Either be prepared to part with some sweat or forget it.
Properly organize your time. Focus on the tasks that offer the maximum return on your investment. Proper time management results in much less stress in one's life.
Of course there are other ways to live within your means and make life much more enjoyable and rewarding. Find the methods that work best for you, and do them.
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