We live in a consumer-driven society.
Everywhere you turn, there are ads for products that claim to make you smarter, thinner, or happier.
To say it’s challenging to avoid going into debt for material items is a bit of an understatement.
However, if you can successfully avoid going into consumer debt or succumbing to hefty lifestyle inflation, you’ll find the benefits of having a low-cost lifestyle are huge. Here’s why.
You Have More Career Freedom
If I didn’t live a low-expense lifestyle, it wouldn’t have been possible for me to quit my day job to work on my online business. With a budget of around $1,600 per month, the business I’ve built around my passions is more than enough to pay the bills.
When you’re not paying for a luxurious lifestyle, you have the opportunity to follow your dreams. With your basics covered, you can pursue a business idea that may take a while to flourish, or a career with a low starting salary.
This doesn’t mean you always have to be a low-income earner, though. Living a low-expense lifestyle affords you the freedom to start out as a low-income earner and work your way to the top at your own pace.
You Have Less Stress
When you’re not worrying about how you’re going to pay your bills or support your expensive habits, you’re under much less stress. You don’t have to work extra hours unless you want to.
Earning enough money to pay down accumulated debt is a huge source of stress. That being said, many people have accumulated debt from student loans to work toward the career they wanted. In some cases, those student loans may have been necessary, but in other cases, not so much.
Either way, debt in all forms can be a huge stressor. If you intentionally live a low-cost lifestyle, you’ll likely be living in less debt — and with less stress.
You Can Concentrate on the Important Things
When you’re not always chasing the almighty dollar, you can slow down a bit and really enjoy your life. You can spend more time on the things that are important to you, like family and friends.
When you have a bit of financial freedom, paired with a low stress level, the world starts looking better. You enjoy the beauty in each and every day and have the chance to go for those opportunities that really mean something.
What’s your favorite part of living a low-cost lifestyle?