10 Painless Ways to Live Below Your Means

10 Painless Ways to Live Below Your Means

Maybe you’re looking to build wealth or just start a savings account, but with no money left after paying the month’s bills, the only place to look for more money is by making a few lifestyle changes. Living below your means will free up some dollars that you can use to jump start an investment plan, a new business or your child’s college savings plan. It doesn’t have to be painful, in fact, it can even be a fun and rewarding way of life.

Pack a lunch. This sounds like a dull way to enjoy the mid-day meal, but frankly, lunch is only as dull as you make it. There are lunch coolers of all sizes and styles today, so packing your meal is not limited to yesterday’s brown lunch bag or peanut butter and jelly sandwich. Get creative with dinner left-overs such as chicken or lasagna that can be packed for reheating. Salads travel well (pack the dressing separately), as do casseroles and soups.
$6 a week for a year is $312 saved.

Make coffee drinks at home. Again, this sounds like an unenlightened way to spend a Saturday morning, but a $25 espresso/cappuccino machine from Wal-Mart will pay for itself in one week or less. Learn to make your lattes the way you love them and you’ll be free of the corporate suits when it comes to your caffeine. You can buy disposable “to go” cups and lids if you’d rather not carry a travel mug all day.
$3 a day for a year is $1092 saved.

Stop shopping. If one of your favorite pastimes is to wander the malls and see what’s on sale this week, it’s time to find a new hobby. Shopping retail is a huge waste of time and money just to buy a few overpriced things marked down several dollars. Make shopping something you do when you must purchase “needs” not “wants.” If you’re going to watch the ads, keep your eye on those staple items that fall into your needs category. Buying them on sale is a bonus.

Buy used and recycle. If you can’t live without shopping, then at least change your shopping destination and you will save hundreds of dollars. Garage sales and thrift stores offer a variety of clothing, household items and décor that will cost pennies instead of hard-earned dollars. You can feed the shopping monster yet still save money by buying used and you’ll also help save the planet.