It is the quality of your thoughts and personal attitude that ultimately determines the depths of happiness that you experience in life.
Have you ever noticed that working-class people live above their means while perpetuating debt? Meanwhile, rich people pinch pennies and use money as a tool to leverage having more options and choices in life?
Money should be a and tool and mindset for dealing with life, not an end within itself.
You can live out a larger lifestyle in life if you think strategically instead of figuring out ways to burn money to do so.
Here are some examples.
Forego Gym Membership for YouTube Videos
The average cost of a gym membership in 2020 was $50 per month or about $600 annually. And since many luxury gym membership programs can be a lot more expensive than that, some people pay $100 to $200 monthly, or even more.
Additionally, many gyms feature deceptive automated renewals of contracts if you pay membership fees with debit or credit cards. In fact, many gyms make their most money from members who never show up but procrastinate ending their membership fees.
There are many YouTube channels dedicated to learning how to exercise at home or outdoors optimally.
And with pandemic lockdowns, it may be easier and cheaper for you to work out at home.
Buy Generic Products Only
Just buy the generic version of any product that you usually buy. You will save a lot more money and you will still experience quality products.
You can save up to 30% by buying generic prescriptions. And you can save up to $1,100 on your grocery bills by expressly buying generic goods.
And what do we mean by buying generic? Well, instead of buying Pepsi or Coca-Cola, you can buy a generic brand of soda water. The generic brand soda has the same ingredients, tastes the same, and costs a lot less.
Buy generic brand garbage bags, pasta, cleaning products, and so on. If you are a shrewd fashionista or know one, you can buy and fashion products cheaply and still look great.
Brew Coffee at Home
The spirit of capitalism, entrepreneurialism and the idea that anyone with a business plan can launch their own business are what make America a great country.
Still, I think we have too many corporate and small business coffee franchises.
The typical American spends over $2,000 annually buying coffee at their favorite franchise coffee shops. In fact, Americans spend more money buying franchise coffee every year than on personally investing in their financial futures.
Brew your own gourmet coffee at home and buy the best thermos mugs. Each cup of coffee you brew at home costs $0.16 to $0.18. Many Americans pay almost $3 per cup of coffee while tipping an extra 20% gratuity.
Subscribe to a fancy coffee subscription box service that will send you different gourmet coffee beans or grounds every month. Here is a list of coffee subscription club services that start at $9 per month.
Make brewing different kinds of coffee at home a new adventurous hobby instead of mindlessly spending $2,000 annually on it.
Here is a giant list of almost 50 methods to live large in life with a small budget.
Remember, life is what you make it, and not how much debt you can generate while trying to enjoy it.
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Allen Francis was an academic advisor, librarian, and college adjunct for many years with no money, no financial literacy, and no responsibility when he had money. To him, the phrase “personal finance,” contains the power that anyone has to grow their own wealth. Allen is an advocate of best personal financial practices including focusing on your needs instead of your wants, asking for help when you need it, saving and investing in your own small business.