Live Like You’re Wealthy on a Budget

Link: The Family Finance Workshop

We’d all like to live a more luxurious life. Unfortunately, our bank account often has the final say. Or does it? There are many luxuries accessible to those on a modest budget. Avoid letting your income stand in the way of fully enjoying life. Where there’s a will, there’s a way. Learn to look for luxury in uncommon places.

You can enjoy the better things in life:

1. Purchase higher quality clothing. You’ll have to purchase fewer clothes to stay within your budget, but that’s okay. Instead of buying five inexpensive shirts, buy two shirts that fit you well and look great. Higher quality clothes last longer, so you’ll eventually have a large wardrobe anyway.

  • Estate sales are a great way to find the clothing of the rich at a bargain price.

2. Take advantage of Groupon and similar offers. Even the fanciest of restaurants aren’t packed at all hours. Higher-end restaurants are often nearly empty earlier in the evening. If you don’t mind eating early, you can save a lot of money.

3. Get a massage or manicure. There’s always a place in town that will give a great, but inexpensive, massage or manicure. You might get lucky and find a place that does both.

4. Be willing to move. Did you choose your current location based on the economic opportunities or the cost of living? Most people fail to venture far from their hometown.

  • Taking advantage of a lucrative employment opportunity and a less expensive location can quickly enhance your lifestyle.

5. Choose your vacation destinations wisely. There are many parts of the world where your dollar will take you further. It’s not difficult to find an exotic, safe, and inexpensive vacation destination. You’ll save money and vacation like a millionaire.

6. Purchase a pre-owned luxury car. Some of the lower-end luxury cars aren’t much more expensive than many of the more modest cars. Look at the luxury cars that are 2-3 years old.

  • They’ll still have a warranty and won’t cost any more than a more common vehicle.

7. Pay for the amenities, but not the hotel room. Many fancy hotels are now offering access to their amenities, for a price. You can use the pool, beach, towels, and fitness center for a very reasonable price without the cost of an expensive hotel room.

8. Prioritize. The more you purchase, the less you can spend on each item. Consider cutting unnecessary expenses and focusing your dollars on higher quality items and services.

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