In today's economic uncertainties, there should only be 2 important words that people must always keep in mind: FRUGALITY and PRACTICALITY. The days of expensive homes, luxury cars, extravagant vacations, and dining out are over.
Being frugal and practical are crucial these days. Before spending your money on something, you need to ask yourself whether what you're about to purchase is something that you NEED and IMPORTANT. You simply cannot purchase something because you WANT it, unless of course you are financially capable of doing so and have the means for it. Compulsive buying is wrong, especially if you cannot afford it and have other financial obligations that are more important.
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Having MORE in life is unfortunately one of human characteristics that is usually caused by jealousy and envy. More money, more clothes, more jewelry, etc. This characteristic is the driving force that makes people feel that they are always in a "rat race". But it doesn't have to be this way. There is no need to compete with family and friends on who has more of "this or that" and who has nicer "this or that". Who cares if what you have is not as "fancy" as theirs. Life is about living comfortably, NOT SHOWING OFF!
Living a simple life is usually much better. Here are the 5 reasons why having LESS is MORE:
1) Less Financial Obligation
* House - If you live in a smaller house that you can afford, you can save a lot of money on your monthly mortgage and property tax bill.
* Car - If you have a smaller car, you can save a lot of money on gas and car maintenance, instead of owning a "gas-guzzling" SUV.
* Clothes / Shoes / Personal Accessories - Clothes, shoes, and personal accessories are all the same regardless where they are purchased. Why buy "designer" (branded) items in a department store when you can save a lot of money buying them from a discount store.
When you have less financial obligations, then you have less stress and worry.
2) Less Stress and Worry
Since you are living a life that you can afford, you're not stressed and worried about money at all.
3) More Money To Save
By being frugal and practical, you will be able to save money not only for your future but especially for emergency situations.
4) More Sense Of Security
Having money saved up gives a sense of security that no matter what happens, you know that you have a nest egg that you can always dip into at anytime.
5) More Peace Of Mind
When you have less financial obligations, less stress and worry, more money saved up, and a sense of security, overall, you'll have more peace of mind!
So, if you're currently going through some financial hardship, this might be the best time to rethink and change the way you live and the way you're spending your money. Don't worry about what your friends and family might think and say. It's your life after all, not theirs.
Bottom line...IF YOU CAN'T AFFORD IT, LET IT GO AND GIVE IT UP. YOU'LL FEEL MUCH BETTER AND HAPPIER!
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