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The lower your expenses, the more freedom you have
What if you could drop your expenses so low that your monthly surplus was ridiculous? What if you could drop your grocery and dining bill from $600 to $200? What if you could drop your rent from $3,000 to $1,000? What if you could drop your car note from $500 to $0? What if you could eliminate all excessive shopping and spending?
Imagine how much lower your cost of living would be, and imagine how much money you could put towards investing and saving.
What Happened After I Slashed My Expenses By 50%
I decreased my monthly expenses by 50% in the past six months. They now total $2,000.
I’m so spoiled with my expenses I’m hesitant to splurge on many things people traditionally would like housing and transportation.
Since my expenses are now lower, my initial one-year emergency can last multiple years.
What have I been doing with my money since? Saving and investing.
10 Benefits of Slashing My Expenses
I can invest more money.
The things I value have changed significantly.
I don’t have any hefty bills weighing me down.
I can take more risks with my employment status.
I quadrupled how long my emergency fund would last.
I can take more risks with more volatile investments.
I don’t have to work as much. I only work when I want to.
I am more financially independent than I have been previously.
My investments work harder since they have more money in them.
I don’t work jobs I hate for the money they offer. I can be picky.
It’s Okay To Want Nice Stuff, But At What Cost
Like any normal human being, most of us want to experience pleasant things and experiences, but at what cost? Why not do it with less financial strain?
Slashing your expenses doesn’t have to mean downgrading your lifestyle; it means downgrading the superfluous: only spending money on the things and experiences that matter most to you.
For me, that is travel right now. I took a month-long trip across Europe to explore and live in other countries. But I’m not splurging on anything else during this time of my life, and I’m good with that.
As you acquire more resources and money, you start to realize that many things don’t make you happy except the people and things that actually do.
More isn’t always better; it’s usually just more stress and clutter.
In Conclusion
Think about the things in your life that you can do without, so you can create the opportunity to build more wealth while also enjoying your life more.
This content is for informational purposes only — not professional advice. Consult a qualified professional before making any major decisions.