Why You Should Live Like You’re Poor

If you want to be rich you need to learn self control. Successful people learn this secret early in their journey. They live like they’re poor so that they can invest in themselves. Even when they become wealthy, they still curb their spending.

The secret to getting rich is as powerful as it is unexciting: live below your means. That might sound easy, but it takes practice. You have to sacrifice living in a big house and driving an expensive SUV. You have to make more meals at home and eat out less often. It might be a simple lifestyle habit, but it takes practice.

It’s Just One Less Monthly Payment

I had a chance to ask Dan Miller, author of 48 Days, a few questions about simple lifestyle habits that lead to success. I was surprised by one of the things he told me. He said,

I’ve never had a car payment.

Ever.

That’s amazing.

When it comes to cars, Dan has chosen to be frugal. Instead of getting expensive cars, he’s bought cars he could afford to buy. He never had a car payment and he saved hundreds of dollars each month. Just think of the ways you could invest the money you save by not having a car payment.

Beware of Black Friday

There’s a reason I chose to write about this topic today. You all know what’s coming soon: the holiday season. In fact, Black Friday will be here in 10 days. Maybe a little self-restraint would be in order.

There have been many studies about money and happiness. It’s true that money can make our lives better. It’s true that money can make us feel more satisfied with ourselves and our place in this world. But it’s not our possessions that matter. Studies have found that we’re happiest when we use our money to help others.

So before you go out and buy a new big-screen TV or an iPhone X, think about ways you can live poor and help others. Instead of spending time in long lines, spend time creating something that will serve people.

In my eBook, The Happiness of Simple: Making Connections Between Happiness, Simplicity & ProductivityI teach a valuable lesson. Happiness is found in simple things.

You can get The Happiness of Simple for free when you sign up for my newsletter.

Share on FacebookTweet about this on TwitterShare on LinkedInEmail this to someone