I started a series some weeks back sharing ways of lowering Living expenses and it's been having good reactions from my audience which I hope would play more role for them on the long run as it is for me. Living in the world today is expensive but somehow we just get by and try to live comfortably.
One of the ways to get by is spending more intentionally and living with the mind of saving some expenses whether cheap or expensive which may build up to having a healthy financial life. To know of more ways to lower your living expenses, you can check out the first episode here and the second here.
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For this post, I'll share six more ways and it will be the final ones I've got to share. Hopefully, we will all have better way to cut down our expenses while still living in a comfortable and even enviable way. Yeah, some people actually do think being intentional about how you spend your money or cut down expenses means you're stingy or tend to think lower than expectations but it is wrong to think that.
One who is applying simple ways to lower living expenses is only being wise to spend money on the things that matters while keeping a healthy financial life and avoid going broke. With that in mind, here are the six more ways I have to share.
Regularly assess whether a purchase aligns with your needs and values.
I was in a habit of buying new items before thinking of what to do with them, it wasn't so good as that spends my money recklessly and made me have things I don't really need or find value in after buying them. The main point here is never to buy on impulse except it is something you are sure you really need. Questions should go through your mind before buying your new items, "Do I need this? What am I going to use it for? Is it affordable from my wallet or too expensive?" These questions should help you know when to go for an item or let it be.
Engage in low-cost hobbies.
It's no doubt that there are really expensive hobbies that people enjoy to do. Well, I believe they can afford that luxury and that is how they got it as a hobby but for those who can't afford it, they can have fun with hobbies that would cost little or nothing to do. I'm not saying those who engage in high cost hobbies should stop engaging in them but it's a suggestion that they also find low-cost ones and find a balance to minimize their expenses.
Freeze excess produce to avoid spoilage.
I lived with an aunt that had a lot of people staying in her home and so rarely had to throw meals away but I figured the main reason for that was because she made sure to freeze any meal that we couldn't finish in that day and then it is brought out fresh another when people are hungry. That way, they get to eat the meal still tasting delicious and avoid the stress and expenses to prepare new meals. This is something everyone should put in place to lower expenses.
Invest in preventive healthcare to avoid future medical costs.
Instead of waiting to fall sick before you start buying expensive medication or treatments, it's best to stay healthy and fit in the more cheaper ways. Exercising daily is one preventive way, eating healthy meals, taking fruits and going for walks instead of sitting for hours in one place, all that would keep your body and mind healthy. The rate at which medications are so expensive to afford now is so alarming here in my country, I don't know about other countries but I'm guessing it's something to prevent too.
Reduce spending on expensive alcoholic drinks.
Well, this would be an issue for those addicted to taking alcoholic drinks. It's puzzling how we spend so much on things that would harm us somehow even when we know very well about them. Well, keeping a balance is a good start to help keep your finances. Alcoholic drinks, cigarettes and harmful substances may be cheap or expensive depending on the intake by an individual, find a balance.
Implement a waiting period before making purchases.
Don't just buy immediately an item begin to trend in the market, those times should be your waiting period instead. Things tend to be more expensive when the demand is higher than supplies and I've seen a lot of persons who just enjoy to buy these things when they are in that state, maybe for recognition or to belong but it isn't a healthy move for one's finances. It is best to wait or rather go for things that are still of quality even though out of trend, they still make good buys.
That's all for this topic, share your thoughts or more ways you can think of and I'll be happy to join in on the comment section.
