How to Live More by Doing Less

We are living in a world of excesses. A life which runs on credit is making us fall deeper into the debt trap and getting over it looks like a distant dream. Three years ago, I always wondered how a select few are able to move out of this mundane job and get the life they wanted. It was then that I discovered the secret to living a more fulfilled life.

Remove debt

It is impossible to get rid of debt completely. You can’t simply wake up one day and have no debt at all. Though it seems like a good idea, it is impossible to achieve. However, this doesn’t mean you shouldn’t work on removing your debt. There are two ways of doing this. You can either remove the smallest debts first or work on the ones with the highest rate of interest. If you choose to make the smallest payments first, the total number of loans will decrease rapidly and eventually, you will be left with larger loans like mortgages to pay off.

If you choose the highest interest-bearing loans first, you will be able to get rid of the biggest liabilities on priority. Depending on what your current credit situation is, one of these methods could be ideal for you.

Find alternates

There is a healthier, financially sound, and emotionally fulfilling alternative to everything in the world. Instead of eating out every day, you can cook food at home. Instead of going to the gym and wasting hundreds of dollars, you could workout at home and go on regular jogs and runs. Instead of visiting a casino, you can play games at home. Simply get a Party Casino Bonus Code and get ready to play in a live setting, without ever having to dress up and leave your house.

Stop spending on ‘stuff’

Wasteful expenditure is a part of our daily routines now. It will be worthwhile to stop spending on ‘stuff’ and buying things that you really want. Hundreds of thousands of people are currently buying fashionable clothes at an inflated prices, without realizing that these trendy items will be out of vogue soon. These clothes become useless the next season and never give you the full value for your money. Also, remember Warren Buffett once said that “if you buy things which you don’t need then a day might come when you are forced to sell things which you need”. So, instead of wasting your money on such stuff, ensure that you save up and keep the funds for the times when you would actually need it. For instance, you might need to hire cleaning services from firms similar to Modern Maids (acclaimed as reputed providers of Austin house cleaning) during the festivities as there would be too much work and too less time to finish the chores. Likewise, you might need to deal with a sudden HVAC breakdown–perhaps your air conditioner has stopped functioning. In any case, these instances would require money. So, better save some!


Conclusion

Keep in mind to follow these simple rules so that you can live a very fulfilling life without ever having to depend heavily on loans and other types of credit. Those could prove to be treacherous and drain your salary or even your savings. Therefore, it would be a good idea to steer clear of them.

Colin Shaw
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Written by Colin Shaw

Colin has been in the finance market for over 20 years and specialises in best business practice to make an organisation profitable. The only man for the job when it comes to numbers and accounts with a keen talent for simplifying finance for the wider market.