You can live on a budget and still enjoy life.
Many Americans are living on a much tighter budget since the pandemic caused unemployment to skyrocket. If you have had to cut back due to a loss or reduction in income, you might be experiencing fear of missing out or FOMO. Living on a budget doesn’t mean you have to give up all the things you enjoy. You can still eat well, dress nicely and travel on a budget. Here are just a few ways to enjoy life on a tighter budget.
1. Choose quality.
If you enjoy the finer things in life, you may be able to still enjoy them if you choose quality over quantity. Instead of getting Starbucks and quick service meals multiple times a week, save up those funds for a nicer restaurant. You won’t be able to dine out as frequently, but you can enjoy a nice night out. The same can be applied to clothing. Instead of making multiple purchases or buying cheap clothes, save up for quality pieces that will last. Purchase basic, high-quality pieces that can be mixed and matched with other items in your closet.
2. Choose the right credit card.
You do want to avoid high-interest debt, especially if you are living on a tighter budget. However, rewards credit cards can help you score points or cash back. Just make sure you pay off your balance by the end of the month to avoid paying interest. Choose a rewards credit card that offers the most points on purchases you make regularly to earn more rewards.
3. Choose produce from the farmers market.
Eating healthy can be expensive. You can save on fruits and vegetables by shopping at the local farmers market instead. Shop produce that is in season to save money. You can also save by shopping towards the end of the farmers market when farmers are more likely to discount what remains.
4. Choose to eat out at lunch instead of dinner.
Is there a trendy restaurant you have been dying to try? Looking for ambiance? Eat out at lunch instead of dinner when prices are more affordable. Most restaurants have a different, cheaper lunch menu. They may even have lunch specials. Check the menu online before dining out, and always ask to hear the specials.
5. Choose a group of friends to travel with.
While many people have put travel on hold during the pandemic, you might be planning for the upcoming year. If you travel with friends, you can split the cost. Renting an Airbnb can be cheaper than a hotel room and may have more space for bunking with friends.
You don’t need a large budget to enjoy yourself. By planning ahead and making some conscious decisions, you can enjoy the finer things for less.
If you need cash for expenses or to consolidate debt, consider a personal loan. You can request up to $10,000 at BrighterPays.com.
This post is not intended to be a solicitation for a loan. BrighterPays provides these blogs for entertainment and informational purposes only. Remember to consider all your financial options before making any decisions related to credit.