Live a comfortable life, not a wasteful one. Do not spend to impress others. Do not live life trying to fool yourself into thinking wealth is measured in material objects. Manage your money wisely so your money does not manage you. Always live well below your means.
1. Redefine your definition of “rich.”
“I remember sitting in a cubicle at my first professional job staring at a picture of an SUV I wanted to buy (and eventually did). Now, I sit in my office and look at the pictures of my kids, and just outside my window I can see the beater I drive sitting in the company parking lot. What a difference a decade makes! To sum things up, my definition of being rich is having enough money to meet my family’s basic needs, a few of our wants, and to be able to give some away to others.”—via Frugal Dad.com
2. Borrow and share. Everyone wins!
“We borrowed a DVD from a friend instead of renting or buying and had a little snack from our own fridge! Way cheaper than using gas to drive to the theater/rental place, paying for a movie, and paying for a snack.”—via MyDollarPlan.com
3. Avoid the mall.
“Going to the mall is not entertainment! We used to go when we were bored. Of course, we usually ended up spending money while we were there. If you need clothes, then shop sales or go to stores that offer name-brands at a discount. You can save a ton on these items if you are a smart shopper. Dave Ramsey says, “Never pay retail!” We probably save $15 to $30 per month by staying away from the mall.”—via MySuper-ChargedLife.com
4. Limit your intake of advertisements.
“Advertising sucks. That’s the cold, hard truth. It’s engineered to make you feel like you’re incomplete, that you have an unfulfilled need, that you’re not good enough.”—via OnSimplicity.com
5. Buy with cash.
“You can’t spend money you don’t have. Many bank accounts provide overdraft protection, so even with a debit card, it’s easier to go over your account balance than you think.”—via SimpleMom.com
6. Find a better deal and actually SAVE the difference.
“Regardless of what they sell, if you’ve switched companies for price reasons, save the difference. Think of phone companies, internet access, cell phones, credit cards, and others.”—via TheWisdomJournal.com
