Money saving lifestyle changes

by Oct 2, 2019Life & Money Q&As

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What are some lifestyle changes that save money?

Firstly, define where you spend your money,
then think about your life and what you want to achieve.
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Financial freedom comes from defining and setting boundaries and living a life dedicated to achieving your goals within those boundaries.

Firstly you need to define where you spend your money.  A good exercise is to record and categorise all your expenditure over a couple of months. Over time, a clear picture of your spending habits will appear.

This can be very enlightening, surprising and liberating experience.  Just the act of writing every single purchase down makes you begin to ask yourself ‘do I really need this?’  Am I buying this because I need this? Or am I being railroaded into doing something for someone else’s gains or to please others?

In tandem with looking at your money you need to think about your life and what you want to achieve. 

It is good to set yourself some life goals, both short and long term.  By doing this you start to form a structure, a plan for your long term financial security. Once you begin to fine tune your spending habits you can redirect the monies into long term savings.  This will enable you to achieve your goals.

You will start living a life that has direction. You will have put in place a framework to live by.  As your plan begins to unfold you will realise you have money in the right place, at the right time, for the important things in life that you want to achieve.

By living within your boundaries you will have real financial freedom.  That is what freedom is all about.

This post has been adapted from Jeremy Deedes’ original answer to a question on asked by a Quora member.
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