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Thursday, November 14, 2013

10 Ways to Live Within Your Means

Mos people live a life they cannot afford just to impress those around them. To be succesful, live below your means.
The temptation to live big cuts a cross people of all gender and social standing. Men want to buy crates and crates of beer to their friends just be seen to be doing well. A lady will not hesitate going for a function without a new dress and heels (even if it's a friend's birthday party). The poor struggle so much to put something on the table but will impulsy spend any unexpected income on unnecessary things once in awhile. We all have our desires and unless we control them we may not jump over the line separating us from being succesful. To be successful in life, you must make sure you are living within your means. Do not be so much interested in pleasing others, just make sure you can finance your short and long-term needs.
Below are ten tips to reducing your expenses and live within your means.

1.  Differentiate riches from luxary – Your definition for richness should change from having luxuries to meeting your daily basic needs.

2. Borrow and Share –  If you can borrow it from a friend, don't buy it. Instead of buying a novel borrow from a friend and read it at home. The only exeption here is money. Do not be so comfortable borrowing money as it will only add to your problems.

3. Avoid the shopping malls – This has nothing to do with the recent Westgate attacks or security fears. If you frequent to the malls you are more likely buy impulsy. You can buy clothes in shops and look around for offers and discounts. There are amazing deals at clearance racks, don't miss them.

4. Avoid buying with Cards –  Using electronic money  to settle your bills will  most probably lead to over expenditure. On top of the transaction fees, the pain in spending vurtual money seem less.

5. Burgain for a better deal and save the difference –Switching to a cheaper service provider is not a sign of poverty but  a way of saving your hard earned cash.

6. Buy only what you need. It is sometimes hard to identify your needs, especially when wants are clad the same. However, prioritization and budgeting will unearth what is not very neccessary.

7. Stay Healthy – Your health is your most prestigous wealth. Sayings aside, people spend a lot of money in health facilities which can be avoided if one eat well and exercise a bit.

8. Prepare for hard times– Hard times do not last but they will not only kill your morale but also dent your finances a blow. Even when things are going according to plan, don't be too comfortable. Always prepare for the worst so that when it happens you will be able to handle it. Putting aside an emergency fund comes handy here.

9. Quit competion– Richness does not translate to happiness because we compare ourselves with others. Stop competing and live a life you can manage.

10. Don’t be overpowered by greed – There are no shortcuts to wealth creation. Corruption and stealing may appear to be the quickest means to being but the consequences are far-reaching. Aspire to be wealthy but use the right means.

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