Living Wealthy on a Budget

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Have you ever wondered what it’s like living wealthy? If you crave the satisfying ideas of financial freedom, having the flexibility to invest in yourself, and being in control of money, then you’ll need to make sure you’re sitting in the driver’s seat when it comes to household budgeting and finances.

Finances can be an easy thing to ignore for up to 30 days at a time, but typically those stacks of unopened bills tend to pile up as the month wears on. Finally, the day comes to open the mail, review all the new monthly bills, price increases, take notice of any late fees, and make payments. Is this really the best way to be an excellent manager when it comes to household finances and living wealthy?

When it comes to being the driver of money, the principles should be practiced with confidence at every turn. If you’re ready to get rid of financial stress, stop the late fees, and organize everything into a flexible format, then it’s time to buckle up and be the driver of your own wealth. Here are some simple steps for living wealthy on your budget.

1. Spend more on the things that really matter. This may seem strange, but saving for costly items requires great discipline, and avoiding the temptation to stretch the budget can pay off big. Living wealthy is all about having great financial fitness, and that requires a little bit of daily exercise. If perhaps a new computer needs to be added to the budget, it may be worth spending significantly more time to save up. Take time to do some research, consider purchasing the best when it comes to items that are essential to life if the long term value makes sense.

2. Avoid the crowds and curb the impulse shopping. All times and days are not equal when it comes to shopping, especially shopping with kids. Weekends are full of quick decisions as crowds move through stores rapidly. It’s hard to bargain shop in crowded stores, especially when comparing prices, substituting items and modifying the list for money savings opportunities. If you happen to constantly find that you’re shopping with the crowd, consider adjusting your schedule by an hour, choosing another day to get supplies, or if you must shop during peak traffic, stick to the list carefully to avoid adding those unneeded impulse items wrapped in bright packages, at times lacking true quality.

3. Organize your bills into categories.

  • Monthly fixed bills (e.g. mortgage, rent, insurance, internet, phone, TV, auto loans, deposits to savings and investment accounts)
  • Monthly adjustable bills (e.g. electric and gas service, water and sewer, flex bucket accounts, groceries, entertainment, dining, transportation)
  • Bonus cash, all the extra money that is expected to be available at the end of the month after all other expenses are covered.

Create a Manilla account to organize all of your bills and household accounts in one place. Share your bills with friends and family to keep track of payments, reduce clutter and stay organized.

4. Balance the luxuries and pleasures in life. Handcrafted chocolate, designer coffee, and fine dining are nothing to be ashamed of. The things you love most can easily be added modestly into the monthly budget and accounted for ahead of time. Instead of abstaining from guilty pleasures, try the modest approach of planning.

5. Get into the community. Start relying on the people you’re connected to in life and help make the earth green by borrowing a tool to finish a quick DIY project. Offer to lend your experience by helping a neighbor with a household repair, plant a garden together or carpool. Not only can friends and neighbors be a great asset to saving money, but helping others without expecting a return right away is a great way to build good relationships and begin to pay-it-forward.

Being a great financial driver is the key to living wealthy on a budget. Wealth is not about a dollar amount, large income, or having a lot of stuff, it’s about setting realistic goals, making better decisions in real time, while being more organized with household budgeting. Continue to fine tune the flexible parts of your budget to make room for new interests. Set a monthly budget that is a little higher than expected and work hard to end the month under budget.

Shane Cameron is a self-employed building contractor and lover of all things organic. Transitioning into a new career as a freelance travel writer, he recently launched a travel blog, Living In The Free World. Shane also writes for Kiss From The World, a people and travel website in Europe, as well as a variety of business blogs focused on home improvements, how-to projects, and money-saving tips for homeowners in Denver, Colorado, and California. Shane is striving daily to be a master communicator, help others, and connect individuals with their dreams.

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