A guide to living cheaply

Why live frugally? First, because it allows you to spend less than you earn, and use the difference to pay off debt, save or invest. Or all three. Second, because the less you spend, the less you need to earn. And that means you can choose to work less, or work more but retire early.

Or take mini retirements. You have more options with a frugal lifestyle.

I know what I’m going to hear in the comments, because it’s been done repeatedly with my other frugal articles: I have no life.

This is boring. I might as well live in a box. You have to enjoy life sometimes. All of which you might believe, but I believe I do have a life. A great one. One where I spend time with my family, where I have conversations and read and get outside and do things that are fun and exercise and focus on what’s important and spend my free time the way I want. This is a good life.

For years, I was confused about this, as I read books and websites that sent me two different messages:

  1. Pleasure later. The first message was that in order to be successful, in order to build wealth, you have to delay gratification. You can’t have instant gratification and be successful.
  2. Pleasure now. The second message was usually from other sources on happiness, but sometimes from the same source: enjoy life now, while you can, Samsung because it’s short and you never know when your last day will come. Live every day like it’s your last.

Trouble is, I agree with both messages. And if you read this site often, you’ll see that I send both messages: Live frugally and simply!

But also enjoy life!

That’s because I’ve reconciled the two philosophies into one: Live life now and enjoy it to the fullest — without destroying your future.

The key to doing that?

Find ways to enjoy life completely, utterly, maximally … that don’t cost your future very much.

That said, there are ways you can adopt to live a cheap life but a rich one.

Here are they:

  1. Categorise your expenses. Start reviewing your expenses from the past couple of months and find out what those expenses are.
  2. Analyse your expenses. Know which ones are the biggest cost drivers and find out what can be done with them.
  3. Create a budget. Create a plan that can work for you. Click here to know more about how to make a budget
  4. Look for ways to save money. Find ways to live cheap, save money, and still live the great life you want.
  5. Avoid buying phones and gadget! The P30 for example costs about £600, that’s crazy!


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