Life HacksLIFESTYLE

How Not To Live Beyond Your Means

By August 24, 2020January 3rd, 2021No Comments
Do not live beyond your means

I once talked about how social media can be both a blessing and a curse depending on how you use it. This continues to be true and especially now during the pandemic where everything has gone virtual. Social media usage has shot up and in as much as some people have been blessed through it, some people wish it never existed. From online exposes to relationships ending, social media has been a nightmare to some people. Worse still, it has driven some to depression because what the people they are following are posting makes them wonder what their lives have become. People are miserable out here; going into debt just to live up to a certain standard set by people they have probably never met. The sad part is that these people that you want to live up to their standards are probably faking it too or are drowning in debt just to sustain that lifestyle. Here is a guide on how not to live beyond your means.

  • Be aware of how much you make

In as much as this may sound obvious, some people do not know how much they are making in total. Take note of all the income you get. You will be shocked at just how much you are overspending or not timing your expenditure well.

  • Make more, spend less

Your expenditure should not exceed your income. This should be a no brainer but if at the end of the month you have loans from every lending app, then this is a clear indication that you are living beyond your means. It is understandable if you had an emergency and had to borrow a loan but if you realize that there is a pattern where you are always repaying loans so that you can borrow more to settle your bills, something needs to change.

  • You cannot keep up with the Joneses

That flamboyant person you think is living their best life online, do not try to be like them. You both have different lives. Also, the idea that happiness is a destination and not a journey will throw you in an endless pursuit of clout chasing. It is not worth it. Be content with your life while working to make your situation better. It is the only way to live a truly fulfilling life.

  • Build an emergency fund

Always save some money in an account that is accessible anytime there is an emergency. By an emergency I do not mean an impromptu road trip with the squad to Naivasha or buying that new arrival bag. It is for legitimate emergencies like say an illness or a natural disaster. The emergency will help to cushion you and your family against extreme losses and pain. Also, get medical covers, education policies and life insurance covers for the family as you never really know what kind of blows life might deal you with. Such covers enable your family to maintain the lifestyle you had introduced them to even in the event of a tragedy such as yours or your spouse’s death. They will get to go to the same good schools and afford good medical care.

Never try to live beyond your means for whatever reason. Most times, no one really cares if you live in the poshest neighbourhood or drive the latest model car. Always live a lifestyle that you can sustain without breaking your back because that is how not to live beyond your means.

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