Millionaires are not ones to flaunt their cash – that’s one sure-fire way to stop being a millionaire. Rather than being outwardly showy with houses and cars, they are much more likely to keep to a less luxurious brand while spending lots of effort in making that fit their personalities and needs to the letter.
Many rich people have been found, in surveys, to actively call frugality a key to success – this is something that you should take into consideration when remodelling or renovating your home (or really doing anything else that involves money, for that matter) – it doesn’t have to cost a lot of money. The 2017 design trends in homes can cost a lot if you aren’t careful, but they don’t need to, and if you follow these five tips for saving money, you can save a lot.
Save Half your Raises and Bonuses
Saving can be very difficult in the day to day world we live in, but it is honestly one of the surest ways to get rich. Of course, saving needs to be done with care – if you save too little, it’ll take you ages to get rich. If you save too much, you might end up simply giving up at some point in the future and having a spending spree.
A good policy is to save half of the disposable income which you have every month, and this applies to any unexpected windfalls which might occur, such as bonuses or inheritances. https://www.iwillteachyoutoberich.com/blog/how-to-save-money/ this website has some really good tips on the specific ways in which you can save your money.
Live Well, but in a Small House
Big houses eat money, especially in winter when the heating needs to be on. Beyond that, mortgage payments, house repairs, house maintenance….it all builds up and up, and it all requires money. Big houses are especially bad for this, so try and live in a small house, or a smaller one than people would expect. Small doesn’t necessarily have to mean uncomfortable, and it has the bonus of being easier on the bank account
Make the Most of your Money
As has been said above, don’t spend for outward luxury, spend for inward luxury. If that means resoling your boots six years in a row because you love them and they are good boots, then that is what it takes.
Money which is spent on maintaining something might be costly, but in general it costs less than running something into the ground and then replacing it entirely. Obviously, this does not apply to cars which are out of date, as then the parts to replace them will definitely cost too much.
Keep it Simple
Interior decorating doesn’t have to be complicated, though it is true that some people pay a lot of money for something which seems quite simple. The modern trends actually help in this regard – we now emphasis simplicity and minimalism in our designs, rather than busy colours and patterns. Neutral colours and clean lines are in general cheaper than colour and busy lines.
Look for Off-Trends
Nobody said that we had to keep ourselves completely up to date with home décor, it’s just what has come to be expected of us. A good way to keep yourself from needing to spend extra money is to wait until the newest trend has sunk in a bit, and then go for it. Prices will no longer be at a premium, and you can pick décor up at reduced prices.