I think this topic of content is one many should find to read now, it's like we're in the period of too many expenses to handle. Even though we are pushing forward and trying to keep our expenses in check, somehow we can't seem to avoid spending too much.
Here in my country, the prices of things seem to have tripled but instead of crying over what has happened already, it's best to plan on how to overcome and continue the journey to financial freedom.
It's interesting and a very good idea to add minimalism to our plans in times of expenses. I love how the minimalists live their lives, simple and it's hard to say "Simple is expensive" as it doesn't require much for a happy life. I'm not sure I've practiced Minimalism to the extent of giving advises but I've seen people who did and still do.
Minimalists don't need too much in their homes as they are good lovers of space, they could have fun but less expensive hobbies, wear comfy but cheap wears and enjoy life at it's simplest. These people don't get too affected by inflated price as much as it does with others.
Making budget is what I do a lot more and I'll say, it pays off and should be introduced to any money setting. Some people have mistaken people who make budgets to being stingy or maybe frugal but it is more than that. Budget is a definite way to prevent financial stress and optimize your resource allocation.
I've had times I failed to plan enough for a huge amount I got, lost all to what I can't give good account of and I've realized that it would have been a different case if I had made budgets. I'll say budgets are a way to prepare for or overcome any financial crisis and so it should be promoted.
There are a few ways to apply Minimalism and Budgeting in times of expenses.
- Positioning yourself for high inflation items.
- Keeping as much sources of income as possible.
- Living below your means and living simple.
- Improvising wherever you can instead of spending sometimes.
- Keep record of what you need money for and how to go about spending the money.
There are more ways but to give a brief explanation to all I've shared. Positioning yourself means having a prepared mind for whatever is coming. No one knew prices of things would go this high but some are coping fine while others are not. It's all about how prepared everyone is before things like that happens.
Having many sources of income is like an automatic to fighting growing expenses. If people should live below their means, thins would be much easier and debt would be hard to go into. I shared a post some time back about how to improvise to lower expenses.
All these and keeping good budget will help in times of expenses and also pave way to financial freedom. It's one thing to earn money, it's another to know how to spend the money well. As I'll always tell myself, "my money will work for me someday and not the other way round."
