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As I have gone through several unstable jobs in the last 3 years or so, it has taught me a lot of lessons. I have picked up what is good for a business and what is not. There are just so many lessons and angles to look at unstable jobs. That is pretty much on a professional level.
However, on a personal level, it has taught me one very glaring lesson. That lesson being I should live below my means. It’s a known lesson that people should learn to instill in themselves.
The Asian-American actress Awkwafina says that if she only needs $500 to get by in a month, then that’s all she needs.
“I went into this mode of, if I can make $500 a month, that’s all I need, because that’s how much my rent was at the time. To this day I feel like I’m still in that ‘All I need is 500-a-month’ mindset. I made just enough, and I was able to do something that I loved doing so much. I just wanted it so bad. The truth is that the best years of your life are when you’re waiting for something big to happen.”
–Awkwafina in an interview for Harper’s Bazaar (Feb 2021 edition) with E. Alex Jung. Article retrieved from CNBC
As I gather my thoughts, these are the reasons why I live way below my means.
1. Do I really need these?
This is the most common question I’d ask myself when I go out. Every time I go out to the malls with friends and whoever, we are bound to spend. It’s tempting, to say the least, and it’s definitely a normal thing to do. Every time we go out, we are so tempted to buy things we don’t need.
As that happens, I’d find myself asking if I really need that item. Like if I see an outfit I like or a book I’d wish to get, I’d hold up first. I would ask myself do I already have more than enough clothes to wear? Do I have enough space in my wardrobe for new clothes? What about the clothes I have just bought 2 months ago and only worn once or twice?
It’s the same when I wanted to buy new books. I’d ask myself do I have the time to read anymore? Even if I do have the time, where will I keep the book once I have completed it?
It’s a lot of angles to look from. I wouldn’t expect everyone to understand this concept. Some people see wants as needs, which can be very dangerous.
2. Get cheaper alternatives where possible
Here’s the thing when it comes to buying certain items. You don’t always need to buy the most expensive one of the same product. Like shoes, for example. Some people think the most expensive ones are often the best ones. Though there are some truths to that, it may not be 100% true.
What is wrong with buying a pair of shoes that is rm70? As opposed to buying one that is rm500, for example? Don’t they do the same thing and have the same function? You’d just wear it and that’s there is to the shoe’s function. More expensive shoes may last slightly longer but not exactly too long.
3. Look for alternate brands
Here’s another thing when it comes to buying items. There are bound to be alternate brands that are a lot cheaper than the regular brands we see every day. If you think these alternate brands are weak in quality, let me hold you right there. Don’t bash these alternate brands yet. You may be surprised.
Some alternate brands do come with good quality too. So why ignore these brands and go for the more expensive ones? Especially both have the same functions. It’s not to say you should completely ignore expensive brands. For some items, you really cannot save money and will have to go for the more expensive ones.
4. Sell or give away things you don’t need
If you have things you do not need, try to sell them. You may be able to make a few quick bucks out of it. However, there will be some other items you may not be able to sell. For these sorts of items, why not just give them away as you have no need for them?
Live with less and you will see how there are so many things you don’t need. In all honesty, there are many things people don’t need. They’d just buy it anyway because it made them feel good at that point in time.
Bottom Line
In all honesty, people don’t exactly need so many things in life. If you were to look at your own belongings, you can see that there are many things you do not really need. Time to live without these junks, perhaps? And try to buy only the necessary items from now onwards.
Lydia is a content writer under Headliner by Newswav, a programme where content creators get to tell their unique stories through articles and at the same time monetize their content within the Newswav app.
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