19 Tips on How To Live Like The Rich, Even on a Tight Budget

No doubt, we are in the economic downtimes, and the effects are far-reaching. As a result, you are unsure if you will manage to live the luxurious life you are used to. Probably you had a misfortune like an illness, and you spent up to the last penny of your savings. There are debts to be paid for example the student loan and a significant percentage of your income go towards payment of that loan. All these are some of the challenges that everyone goes through at any time during their life. But that should not dampen your hopes of ever living a better luxurious life. What you need is to learn how to survive with your current income.

Even if you believe that you have huge disposable income, do not be extravagant. You do not need to spend a fortune to prove that you are rich. It makes sense to look for inexpensive but quality ways to live. That way, you could save the remaining for a secure future. That is what is commonly referred to as frugal living. It means maximizing the utility of the money without the need to cut your luxuries. So, what’s next?

The following tips will help you live a vibrant life even on a tight budget:

Do Shopping Off-Season

You do not need to shop when everyone else is shopping. Prices of goods are at the peak when it’s the season for that particular item. For instance, if you shop for boots in the spring, you will buy it at a clearance fee. The price is way too low the regular price. You end up saving a lot on the same items than others.

Buy Quality but Used Trendy Items

You may consider shopping for designer items like accessories and clothes on sites eCommerce websites like eBay. Most items come at pocket-friendly prices. However, ensure that you are keen not to purchase counterfeits.

Consider Short Trips as Opposed to Long Holidays

If you are used to going on long vacations, you need to start scheduling short highly enjoyable trips that will not cost you much. Short trips are not too demanding regarding preparations and budget.

Inform Your Friends Of Your Financial Limitations

Your friends will be considerate enough if you share your current status with them. If you happen to be in a hotel with them, you may order just an appetizer if the cost of meals strain your budget. You could also ask to split the cost of a meal with friends. In a hotel, you may share a room with the friend. All this will ensure that you survive on a small budget.

Rent a Home

Buying a home costs a fortune especially when you are on a budget. It makes economic sense to rent one. A rented home will not cost you repair fees or property taxes. When installing furniture, you could consider buying used furniture for your home. Some sites can connect you with sellers disposing the items at unimaginably low prices. Others give items for free e.g. utensils. Probably you will need some of those items. Grab that opportunity and save.

Renting Designer Items

Some items are expensive to acquire particularly when you are on a tight budget. You could consider renting high-quality trendy items like shoes, clutch bags, and fashion dresses. There are online portals solely for that. LendingLuxury.com is a good example. The rates are extremely low compared to buying the item. This strategy is great as it helps you keep up with what is trending without incurring much.

Pay for Full-Time Memberships

Everyone has his or her taste. You probably like visiting the park or going to the gym and paying on the spot. Becoming a member might be economical if you are a frequent visitor. You do not need to part with cash every time you visit your favorite places. Paying every time may end up being expensive.

Prepare Coffee At Home

You don’t have to spend money in the restaurant for your coffee. Go to your grocery and buy ground coffee at wholesale prices and brew it yourself at home when you crave. You will save yourself some dimes.

Join Free Meetups

Make new friends around your city, share things and engage in enjoyable activities. Meetup groups usually host free events. You may try meetup.com. You get to choose the activities that you want from those listed. Being part of these activities will not cost you much. In fact, they are free and you may incur cost only when you decide to buy some snacks.

Get Travel Group

To make your cost-cutting mission more effective, you could network with friends and all parties interest in an event and arrange your travel together. Booking as a group attracts huge discount regardless of the means of transport. Organize your next holiday tour as a family and see how much you will save.

Social Couponing

You could be checking to see the offers available. There comes a time where restaurants offer means at half the prices. Take advantage of these offers and have a good meal once in a while. You do not have to spend much when there is such an offer. The quality of meals remains same, and it will make you feel like you belong to the rich club at least.

It gives you a feeling of not living on a budget. Are you expecting to buy somebody a gift, valentine’s day, birthday or Christmas? A coupon will give you a good deal at an incredibly low cost. You could also install savings apps on your cell phone so that your get updates whenever there are offers.

Buy Quality, Not Quantity

Take your time when shopping for any items to ensure that you have time to buy quality items. Do not develop a habit of buying on impulse. Infrequent shopping grants you more time to search and buy quality products. Quality items are durable compared with cheap items. They will be cost efficient in the long run compared to things that do not last long. It is better to sacrifice eating out and spare it for a better and memorable experience in an excellent restaurant.

Enjoy the Gift of Nature

Instead of making monthly gym subscriptions or paying daily, you could consider taking a nature walk, jogging, and running. If you do not want to quit lifting weights, consider going to a small, inexpensive gym. How about taking your loved one for a walk in the park while sipping cost friendly but quality wine? Get your bikes and explore your neighbor as you cycle. You may also convince your friends to organize a hike or mountain climbing. Nature provides spectacular sceneries that are free to enjoy. An adventure into the thickets is a breathtaking yet an enjoyable and memorable event.

Change Your Perspective

Living on a tight budget requires sacrifice. If you are the type who wants to keep up with what others are doing around you all the time, then the whole mission will fail. Self-discipline is mandatory. If you have planned to take a certain action, let it be so. Do not be swayed by friends. You should convince yourself that you are on a cost-cutting mission and stick to that.

Look for Freebies

On things like entertainment, you need to be smart. Go to the Internet and find places where they offer free entertainment activities. Organize and attend them together with your loved ones and enjoy yourselves. Living on a tight budget does not have to make you lock yourself up in the house. Some tickets to certain events usually come with hefty prices, do not worry. Look for a discounted ticket online on websites that sell tickets online if you do not want to miss such events.Sites like Groupon can be a great place to check for discounts. They have a stubhub discount code you can use you save money on many events.

Eat Well on a Budget

Go to your local market and check out what is in high season. When a commodity is in high supply, the prices are better. Become a smart consumer and take advantage of the lower prices and stock the item. Shopping at the end of the day also gives you great discounts. You could also negotiate the prices down by letting the sellers know that you are on a tight budget! Most won’t hesitate to listen to you. Eat simple but nutritious and healthy meals. That will ensure that you have extra money to save.

Find a Roommate

When on a budget, consider sharing a house with a colleague that you share most values with. Getting a roommate will not affect the quality of your life in any way. That cuts the cost of rental expenses by half. You will also share everything else in the home house, be it toilet paper, food items, and drinks.

Eliminate All Bad Habits

Drinking, smoking, and use of hard drugs require a lot of money. Cut anything that you think you could survive without and you will be happy you did. Although dealing with addictions is not simple, you could ask for advice from counselors and friends on this.

Use Cash

Research shows that the use of credit promotes extravagance. You tend to spend a lot of money when paying for items with a card. When transacting, you forget that it is not even an income but a loan. Most people will even spend to hit the credit card limit. That means that most of their earnings will be used for repayment of credit card loans. Make sure that when going out, you have left you credit cards and only carried enough cash for that day. Do not carry more than you require or more than what is in the budget. Again, you are likely to spend cash more sparingly compared to swiping use the credit card.

Work Hard

That is simple to understand. You are in financial crises, right? Then, it makes sense to find out a way of solving the problem once and for all. You need to do something to lead the kind of life you aspire. This is where it requires you to think ahead. Get another source of income. You may consider getting a second job.

Ask around for any projects in your neighborhood that could earn you some dollars. Babysitting and pet sitting are perfect examples. Do not worry about taking those odd jobs. You know what you are looking for. There are also numerous opportunities for making money online if you are dedicated and have the right skills. You could also acquire new skills from friends and relatives for free and make it pay off. Just do anything legal that will earn you an extra income.

To live a better life, you do not need to have a truckload of money. You only need smart tweaks to your lifestyle. The measures that you take do not have to make you sacrifice the good life. In fact, the tips above, if used in an intelligent manner, can get you regain or retain the kind life you were leading. Let your financial status not block you from enjoying life to the fullest.