When you think about living below your means, what comes to your mind? Most of us would probably think about saying goodbye to many of the things we enjoy doing such as eating out or traveling. Living such a stark and deprived life can make a person feel unhappy and depressed.
But even when you are controlling your finances and saving money, you can still enjoy your life and do the things you want to do. The key there is planning your finances carefully. You would still want to live below your means but not completely deprive yourself. Here are some tips:
- Know how much you can spend on leisure and hobbies.
Create a budget for everything but make sure you also allot a budget for leisure. A lot of people think that they can live a life without spending money on leisure but this can lead to dissatisfaction and unhappiness. People need to pursue activities that make them happy because it promotes good mental and emotional health as well as improve personal experiences and learning. Consider it investing on yourself. There are skills and talents you learn from these leisure activities and hobbies that will come handy in your professional life.
After setting aside money for savings, bills and investments, that’s the time you spend money on leisure and hobbies.
- Time your spending.
Choose which of your hobbies and leisure activities you want to spend money on. For instance, if there is a place you want to travel to so badly, you can cut back on shopping and eating out so you can save more money for your travel. Learn how to prioritize and determine which activities or hobbies you want to do more so your money will be spent more wisely.
- Take advantage of deals, promos and discounts.
Always be on the lookout for deals and promotions. If you like to shop, watch out for clearance sales at the end of the season. If you do a lot of traveling, book your hotels using discounted deals online or choose a time when the hotel rates are the lowest.
- Don’t completely eliminate eating out but make sure you cut it down.
Do you like eating out? You don’t have to go cold turkey on it. Simply eliminate the number of times you eat out every week. Incorporate more home cooking in your activities. When you eat out, order only what you can consume.
It’s always a good idea to get the help of Fee Only Financial Planners in Vancouver when it comes to controlling your spending. Fee only financial planners in Vancouver such as Chalten Fee-Only Advisors LTD can help you determine how much money you can spend on leisure so you won’t feel deprived.
Fee only financial planners in Vancouver will help you have full control over your finances so you will know where to spend your money and how to prioritize spending. With the help of fee only financial planners in Vancouver, you won’t stress out over the financial aspect of your life anymore.
Luis Stevenson is the author of this article. To know more about Debt management in Vancouver Please visit our website: chaltenadvisors.com
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