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Broke with Expensive Taste is not just the title of Azealia Banks’ only studio album but also the slogan of many people who aspire to enjoy the finer things in life. Alas, it’s difficult to splurge on luxuries and fine things while being broke unless you are in the know.
Lucky for you, we’ve compiled 14 secrets to living large on a small budget so you can have your cake and eat it, too.
Get Rid of Your Debt
Your debt is the most important thing keeping you from living the life you want. If you have expensive loans, such as credit cards, you will probably never be able to splurge on those luxuries and will only keep dreaming about living a life of splendor.
Worse, you may get frustrated with the state of your life and end up using your credit card to purchase things and eat out as a coping mechanism. This further pushes you into the deep, dark abyss of poverty and misery. Make a list of all your debts, and clear them as soon as possible. That’s the first step toward living large.
Don’t Try to Keep up With the Joneses
If you have a small budget and live a life of excess, you will never be able to enjoy the finer things in life. Being aspirational when you can’t really afford it is one of humankind’s greatest weaknesses. Stop trying to keep up with the Joneses. Do not compare yourself with others.
It’s not necessary to do something just because someone else did. The trick is not to desire what others do or how they live but to find meaning in your own life by discovering what makes you happy.
Move to a More Affordable Place
If you are on a tight budget, the most important thing you can do is evaluate your living conditions. If you own your own house, you probably don’t have to move anywhere else. However, you can rent a room to someone for some extra money.
If you don’t have a home and pay rent, consider moving to a smaller house in a more affordable neighborhood. This will dramatically free up your budget to splurge on things you usually enjoy.
Be Assertive
People who struggle for money tend to have low confidence. This often shows on their face, and people take them for granted. For example, waiting staff may ignore you because you slouch, stammer, and don’t look like someone who would purchase or order something expensive.
Be assertive regardless of how much money you have in your pocket or bank account. When you communicate what you want confidently, people will respect you. This will fetch you the desired results without being sidelined or ignored. If you’re not confident, fake it until you truly feel self-assured.
Delay Gratification. Don’t Settle For Something Less.
Broke people tend to be impatient as well. They often get desperate and fall prey to their desires. Impulsivity, anxiety, and boredom are all emotions that are associated with poverty.
When you work on these emotions and delay gratification, you can actually afford what you want after a month or two. Most importantly, being impulsive makes you buy poor-quality things that only last for a short time. Instead, be patient and save money to buy something expensive that will last for a long time.
Invest in Health
If you are low on budget, the last thing you want is to spend money on medicines and medical procedures. Doctor visits can be very expensive today unless you have the perfect insurance plan. Start taking care of your health, and buy an insurance policy that covers most of your health risks. If you’re 65 or older, Medicare will cover some of your health-related expenses.
No matter how old you are, investing in health is essential to have money and proper physical and mental conditions to enjoy a wonderful life. You can’t go clubbing when your arthritis is acting up, can you?
Eat Out as an Occasional Treat
A quintessential characteristic of people who do not have a lot of money is eating a lot of junk food. Not only is junk food expensive, but it also makes you unhealthy and diminishes your looks. Your skin and hair will not glow when you load up on empty calories.
Instead, purchase groceries from the supermarket and cook delicious and healthy meals. You can always have your cheat days to go out and treat yourself to something delicious at a fancy restaurant.
Cancel Your Gym Membership
Going to the gym is essential because you can do cardio and lift weights. Strength training improves physical and mental health and makes you look attractive. However, if you’re low on budget, cancel your membership and consider purchasing some dumbbells.
You can run around the park and return home to lift those weights. You’ll get the same results without having to spend money at the gym. All these savings can be used for something you’ve always wanted to buy.
Purchase Home Spa Products
There is absolutely no need to go to those expensive salons and spas to enjoy a session of aromatherapy or massage. You can buy all the necessary products and enjoy a home spa at a fraction of the cost.
Invest in a diffuser and buy essential oil blends that relieve stress and promote relaxation. Spend time in the bath while scented candles waft their aroma around the house. Thanks to the money saved, you can even treat yourself to a nice bottle of wine and chocolates.
Invest in Style and Don’t Spend on Fashion
Fashion changes every season, and you really can’t keep up with that unless you’re young and rich. I say young because the older you get, it becomes less relevant to keep up with changing trends. However, as you grow older, it becomes more critical to invest in quality styles.
Identify what looks the best on you and stick to the most timeless styles. This will help you avoid having to purchase clothes often while you get to look your best.
Be Well Dressed, Always
Being well-dressed gives you self-confidence and helps you become assertive naturally. Get rid of the idea that you must dress up only on special occasions. Every day is a special occasion to take pride in your appearance.
Develop Diverse Interests and Hobbies
One way to set yourself apart is to pursue authentic interests and hobbies. Do not try to copy others. Instead, discover what interests you the most. Then, pursue your interests wholeheartedly and try to convert them into hobbies that pay.
For instance, if you’re fond of music, you can start writing or talking about it and monetize your knowledge. Remember, hobbies take up considerable time but can be spiritually and monetarily rewarding. Many hobbies do not require any budget at all. They will keep you occupied while adding meaning to your life.
Immerse Yourself in Culture
Living a good life is not all about spending money on expensive things and going away on exotic vacations. Try to get out of the thinking paradigm that puts displaying wealth on a pedestal. Instead, immerse yourself in culture and discover life’s joys and all things humans have created.
You can visit museums and music concerts, attend reading club meetings, watch classic films, etc., at little or no cost. Art and culture help you grow as a person and find meaning in life without desiring shiny toys and expensive lifestyles.
Earn More Money
At the end of the day, having a small budget is simply not enough when everything is getting expensive. The truth is, you can live an entire life without spending on luxuries but remain poor and miserable.
The trick is to create multiple sources of income so that you always have a steady cash flow for the things you enjoy doing. Most importantly, the extra cash allows you to be a better person by helping others in need. Philanthropy is, after all, more rewarding than being a mere consumerist.
