12 Habits Of People Who Live Below Their Means But Feel Rich Anyway
Living large doesn't always mean spending big.
Look Studio | Shutterstock Ever notice how some people manage to live below their means but still look and feel like they’re living large? They don’t seem stressed about money, yet they're not out here blowing cash, either. It’s not luck — it’s habit.
As someone who has a lot of friends who just seem to make everything look easy, I get it. It’s an art form that appears to be hard to maintain (or even try), but over time, I’ve picked up a few tricks from friends who seem to have figured it out. Here are the habits I’ve noticed in people who live frugally but still feel wealthy.
Here are 12 habits of people who live below their means, but feel rich anyway:
1. They spend big on home life, not daily splurges
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There seem to be two schools of thought with people: those who splurge on daily things but have a small home, and those who have a large house but are very tight-fisted day-to-day.
If you want to feel like you’re living it up, invest in your home. Make it a big place. Then, just cut back on the other expenses you have.
2. They pay themselves first
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When you get a paycheck, you likely pay your storage, your streaming services, or your rent first. This is not a good way to go through life. Pay yourself first.
Put money aside in your 401(k), your health savings account, and your investments. This may set you back temporarily, but eventually, it’ll make it possible for you actually to get rich.
3. They go to free events
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If you are a party animal like me, you might have a knee-jerk reaction to go to a club and “ball out.” Truth be told, that’s not the right way to go about things. If you’re paying high prices for events regularly, you’re burning a hole in your pocket.
Almost every major city has a ton of free events you can check out. You still get to go out. You just don’t have to pay those fees.
4. They find ways to earn from their hobbies
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One of the biggest secrets of the mega-wealthy is that they tend to monetize their hobbies. If you have a hobby that makes you money, you can often sell your goods (or content) and make money.
This can help you offset the price of the items that you sell. Some wealthy folks who have spare time will go so far as to start full businesses for their hobbies as a tax write-off, then sell the brands.
5. They go thrifting (and are great at finding deals)
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Designer clothes don’t have to be a pipe dream. Thrifting has become one of the most popular ways to get high-end clothes for low-end prices. Of course, there are limitations to how well one can dress while thrifting.
According to Capital One Shopping, 93 percent of Americans shop online for secondhand items. If you’re plus-sized, you might not have much luck because plus-sized clothing can be so hard to find. Still, you can always enjoy those affordable designer bags.
6. They bring the party home
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Rather than go out with friends, it’s okay to start making your place the go-to meeting space. Partying at home means you save on cover charges, expensive foods, and more. Moreover, you don’t have to worry about rowdy randos at home.
If you have a larger group of friends, doing a rotation somewhere can make things easier.
7. They swap expensive trips for local staycations
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While many people tend to go out to high-end regions for their outings, chances are high that you have some gorgeous lands that you can explore right around your home. Local parks have great views and also remain affordable for most families.
There are more than 400 national parks to choose from in the United States alone, not counting state and local parks.
8. They actually use the programs available to them
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Let’s say that you’re one of the many, many Americans making a lower wage. Not a problem. You can still live on lower incomes throughout the US by enrolling in government programs designed to make life livable.
Whether it’s SNAP, a housing program, or even something along the lines of free college doesn’t matter. What matters is that it’s there to help you out.
9. They pool costs with friends
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Do you have a bunch of friends you are close with? Like, really close? It may make more sense to pool your costs as a group. This can include things like buying food in bulk and splitting it, sharing a Costco membership, or even splitting rent.
You would be shocked at how much you can save and how much you can benefit from doing this. It’s extra wise if you pool the cost of specific outings or treats, like a vacation.
10. They move somewhere their money stretches farther
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Let’s face it. America is a very pricey place to live, even when you’re pinching pennies and working. A growing number of Americans are now choosing to live (temporarily, sometimes) abroad as a way to cut corners without actually feeling the financial burn.
In places like Thailand, it’s possible to skate by with a lower annual income. An article on William Russell states that a family can live there on $2,500 a month!
11. They spend quality time together in person
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It’s no secret that playing video games has become a major pastime for people across the board. However, gaming costs can add up quickly, and it makes people feel more stressed in the long run.
Studies show that people who hang out with others on a regular basis tend to feel happier, less stressed, and healthier than those who don’t. This, in turn, makes them less likely to pursue retail therapy as an outlet.
12. They ditch caffeine
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Surprise! Caffeinated drinks like soda aren’t just bad for your health. They are also bad for your wallet.
An article in Time states that the average worker spends more than $1,000 annually on coffee. That’s a grand that could be in your wallet… and we’re not even going to touch what that can spell for your dentist.
Ossiana Tepfenhart is a writer whose work has been featured in Yahoo, BRIDES, Your Daily Dish, Newtheory Magazine, and others.
