Every once in a while you want to spoil yourself, and the responsibilities in your life conspire to empty your coffers. However, you can live on a small budget, with a paradigm shift; the key to succeeding in this is to set your imagination free.
What do we mean by living like a king? Let us try to break it down. In medieval times, the kings held sovereignty over their whole kingdom which included land and people. Kings would send out decrees, and action was taken to discharge the royal orders. Their authority could move wealth and people around to service the kingdom’s needs.
Verify Your Net Worth
If you want to live like a king, take stock of all the resources you have amassed in your personal kingdom and start planning how you want to use them. Define your kingdom to the places you have absolute control over, be it where you live, work or play. This obviously works best when you are in charge and no-one else can lay claim to your property. Now you can execute!
Try New Decisions
It takes determination and creativity to live within your means especially in our society, where credit is readily available. Living on a small budget may turn out to be fun and stir up your creative juices to scrutinize new and different choices which will still satisfy your desires within monetary limits. For instance, if you decide to drop the golf club membership, look into taking up off-trail cycling as a way of getting some exercise, taking the train or bus instead of using a cab, eating in instead of going to fancy restaurants among other money-saving decisions.
You can invest in upgrading and learning a new trade or skill, something that will require you to travel and grant you new experiences. Traveling jobs can help you save more back at home, while you are at work, and because you are not going to put down roots, you do away with the need to collect and gather unnecessary items. Most of the world is using the internet and if you were to get a job in a Web Development Agency, your skills would be attractive in any market.
Downgrading is not a dirty word. If you are an empty nester you can downgrade your house to a smaller one and reduce on your upkeep expenses and property taxes. Downgrade your car and swap the gasoline guzzler for a diesel or eco-friendly electric vehicle.
Are you familiar with the oxymoron, ‘cheap is expensive?’ The idea behind this statement is that continual purchases of poor quality items require you to keep replacing them. Whereas, if you did not buy poor quality stuff and instead, save up enough for the first-rate quality item, you will avoid constant replacement costs.
Recognize Your Successes
All kings grant their subjects rewards for successfully carrying out tasks. Decree a reward for personal achievements and save towards it, give yourself or family something to look forward to. Take care not to go overboard as the wise king will not splurge and indulge in wasteful excesses.