Why You Should Live Below Your Means
By Isinsu Karadal on The Capital
It’s great to buy new AirPods. It’s awesome to buy a new pair of latest Nike shoes.
But it’s even more satisfying to buy a brand new house.
I wish we all could spend as much money as we wanted and still maintain our lives. But unless you are Jeff Bezos, that’s simply not the way of the world.
Here’s the ugly truth: People like spending money on nothing. They love new and unnecessary, fancy glasses. They love Instagram’s “worldwide shipping” iPhone cases with puppy pictures on them. They love having five different perfume bottles at the same time.
People love living according to their means and even higher.
I know only one person who avoids such expenses. He’s 40 now and has been working for more than fifteen years. His earnings are pretty good but not enough to make him a millionaire in a few years.
But he is a millionaire.
Avoiding such unnecessary expenses is the main reason for that, I believe. He doesn’t use an iPhone 11, uses a 6 instead, and says, “I don’t need it. My phone works perfectly well. Why would I buy a new one?”
He has this mindset in all areas of life. If he doesn’t really need something, he just doesn’t buy it. And his bank account keeps growing constantly because of that.
We usually don’t understand the great impact of small things in our lives. The truth is, spending your money on little, cheap things is the reason for you not saving money. And thus, not having a bloated bank account by now.
You can buy lots of things. But you shouldn’t buy just because you can.
Understand the power of saving money and investing with it. Give up on that pair of shoes and that leather bag. Save the money, invest with it, and be able to buy hundreds of leather bags in a few years.
Thanks for reading. I hope it helps :)
