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5 Tips For Living Like Royalty on a Tight Budget

5 Tips For Living Like Royalty on a Tight Budget

“Cash rules everything around me, cream get the money, dollar dollar bills ya’ll”, are famous lyrics rapped by none other than the infamous hip hop group the Wu-Tang Clan. Albeit, not overly eloquent in its execution, the sentiment is undeniably true. Pretty much every step in our life is governed by our monetary circumstances, meaning that balancing the books is a fine art.

So, if you’re not one of the lucky few who was born into an oil baron’s family or you didn’t invent a social media page that went bonkers, you’re probably apart of huge crop of individuals experiencing the challenge of getting on top of payments and struggling to save.

When looking at the old bank account, the knot in your throat might be suggesting a visit to a public library or prompt you to Google, “free things to do in my city this weekend” as a few tears pour out, (but only a few, the lack of sustenance you can afford will only produce so much!) Don’t fear, unless you live in Mogadishu or Kabul, there are plenty of ways to live like the Wolf of Wall Street and still fulfil your cash money goals.

So, where to? It all starts with budget and planning. Yes, the old ‘budgeting’, approach. No doubt we’ve all heard this method a hundred times from parents or that annoying accounting student we all know. It’s constantly mentioned for a reason; it works. It doesn’t matter if you’re earning mega benjamins or only a few, you have to look at what is coming in versus what is going out.

This helps you work out where you money is going and can then help you develop a strategy to start racking up pennies. Once you got a budget, you can then plan expenses by planning your life. You can plan a week of meals, transport, social hangs, whatever, meaning there will be no surprise costs that strike up like a jack in the box leading you to sing for extra coins at the train station.

We all have essentials and desirables. One obviously takes a bigger priority for quality of living, but here a few tips to merge those wants into your everyday hustle.

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1. Eats

Food on a table

    We all gotta eat. For your everyday life though, buy in bulk. With your grocery expenses buy for most meals of the week. Leave a few meals spare for eating out with mates and/or romantic mates. Yes, I feel ya, you’re probably thinking,”Eating out?! Isn’t that the worst? So expensive”. You’re not wrong, however don’t worry, I got you. As long as you’re not dining out everyday, there are plenty of ways to eat out on a budget.

    First move, get on social media, no not to perve on hot people or watch funny cat videos, get on there and follow any local restaurants, bistros, diners, bars, if it serves food, follow it. Food businesses and eateries are always posting deals, ranging from 2 for 1’s, discount hours, special offers, events, it’s how they market and build customers, why not take advantage?

    For budgeting purposes you can save bulk dimes and still enjoy the luxury of someone else cooking you up a feast.

    2. Stay Fashion Relevant

    A woman in various outfits showcasing fashion

      You might remember that moment at school when you’re sported new sneakers or mad clothes and the whole class was like “Damnnnn!!!!”. Contrarily, you also might remember that moment where you got picked on for wearing daggy threads or looking like a Kmart mannequin. Fearing that the latter may come again due to budget constraints? Stay calm, a world of affordable and trending fashion is out there.

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      Companies like Asos, H&M, Zara, the Iconic, present magic and freaking awesome options for styling up a storm. Forget about the last catalogue of Abercrombie and Fitch and Ralph Lauren, you can pick up quality plain tops, sweaters, shirts, pants, jackets, shoes for anywhere between $10 to $40 and look fit for anything from a fashion show to an ivy league party.

      The rise of the hipster and serious gentrification has meant picking up second hand apparel is also a cheap and stylish option. Fortunately, op shops are everywhere so get rummaging. The world of fashion is no longer all about labels, it’s about style and there a plenty of sources available to maintain yours on a budget.

      3. Date Nights

      Wine and Candles

        Candlelight: the perfect real-life Instagram filter.

        You don’t have to hire Hitch to spark romance or maintain it. Staying in with your significant or attractive other provides great ways to inspire love, cuddles, romance and even savings on the finance scene. Ever heard of “Netflix and Chill?” Yes, while the term has its dubious associations, it is a darn impressive service full of great, versatile content for just over $10 a month. There’s something for everyone and every mood.

        Cosy up on the couch and watch classics or discover new favourites. Don’t hesitate to follow your local cinema on social media if you prefer a bigger screen, just like restaurants, they’ll be promoting hot deals too. Or, If you happen to be a Masterchef, cooking in at home can serve up a dish of good times and speaks for itself when saving cash.

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        If you’re going to, make something edgy like burritos, arancini balls, something that is fun. Pair this with a bottle of wine or drink of preference, light a few cheap candles, dim the lights and voila, you’re on your way to recreating a scene from The Notebook. To throwback a few paragraphs, pair your date/s with a local dinner deal, even better!

        4. Bulk Gains, For Less Cash

        A woman stretching on the beach

          Provided you’re not living under a rock or militantly disbelieve basic science, exercise is pretty important when it comes to your health. Luckily, we live in a time of #fitspiration. In a nutshell, you don’t have to fork out bags of cash to stay fit and healthy, nor have you ever had to. There are plenty of cheap, small 24 hour gyms that offer more than enough for your everyday sweat and shred production.

          If budget doesn’t permit, your heartbeat can still be increased by more than just your financial anxieties. The internet is a great place to resource intel on exercise. Take notes, then hit your local park or lounge room floor and get sweating. Remember that push-ups, sit-ups, squats, running are all free and still widely used in military and professional sporting team programs. Last I checked, those guys are pretty cut.

          If you’re chasing zen, check your local council or shire as many throw free Yoga and Tai Chi classes. For more #healthyliving tips on the cheap, follow fitness fanatics or athletes on social media outlets to get even more daily workout and exercise tips. Do you even lift? No excuses.

          5. Grind and Hustle

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          A woman walking 4 dogs

            “I need a dollar, dollar, dollar man what I need,” Aloe Blacc isn’t wrong. Having an actual income when assessing finances and budget is a pretty good start, (obviously). But if you’re unlucky enough to be working hard for less, or just need more capital on top of your paycheck, the world is your oyster to make a few extra scraps.

            With a global service like Uber, you can drive up the figures displayed in your bank account. All you need is a car that meets the required specs imposed by Uber, and then let the extra cash floodgates open. If you’re not riding dirty in the vehicle game, there are plenty of creative alternatives.

            For example, roll deep with a couple of canines providing your own dog walking business. Not only does it give you great company, it’s also a method to integrate fitness while earning dosh. If you’re one of those weird people allergic or just don’t happen to like pooches, look to jobs posted on things like Gumtree or Craigslist. House-sitting, cleaning or even selling some of your possessions are easy and generally stress free ways to generate remuneration.

            Failing these options, pick up a part-time job at a bar or restaurant, a fantastic place to earn wages, get cash tips, and socialise. Eat, sleep, earn, repeat

            Alright, we may have overstepped the mark when saying live like royalty. Unfortunately that privilege is only destined for a select crop of lucky individuals. So if you’re eating rice in the dark in your apartment, with bills coming in while seeing your friends tagged in photos out and about, turn that frown upside down.

            There are countless methods to live a stimulating and adventurous life on a budget. Need help budgeting? Why not seek out a professional wealth advisor, the pay-off from an investment like this could be the ticket you need to your financial success. At the end of the day, it’s your life, your money, your budget, your goals, treat yourself where you can and know full well the world offers more than just paying the man.

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            Published on January 15, 2020

            9 Millionaire Success Habits That Will Inspire Your Life

            9 Millionaire Success Habits That Will Inspire Your Life

            As technology evolves and information becomes more accessible, it has also become more challenging to define success. A lot of people are trapped in the rat race while trying to discover the actual formula for success.

            You could become overwhelmed with what tools, techniques or philosophies to imbibe while trying to get tips over the internet. At every click and turn, there are ‘how-tos and quick-fix’ on how to become successful overnight. You will find several courses, articles, videos and books on how to achieve financial success.

            But what if I tell you it doesn’t have to be complicated as people made it out to be? What if you could achieve success by merely following these 9 millionaire success habits?

            1. Read for Personal Development

            A daily habit I have discovered millionaire share in common is reading. For instance, if you are an entrepreneur, you need to read to become an efficient leader and a productive business owner. Reading helps you to grow and learn without going to a business school.

            A research conducted by Thomas Crowley indicates about 85% of self-made millionaires read at least two or more books each month. [1] Warren Buffett is one of these examples. He spends 80% of his day reading. In the early days of his investment career, he would read 600 to 1000 pages in a single day.

            While millionaires sometimes read for pleasure, they also learn to improve themselves. They read topics on leadership, how-tos, self-help, biographies, lifehacks and also follow current events.

            2. Establish Multiple Sources of Income

            Another success habit I noticed about success is that they don’t depend on a single income source. Every millionaire possesses multiple sources of income. This helps them to manage economic challenges and also make more money.

            They are passive income addicts. They earn interests from loans, rental income from real estate, royalties from intellectual properties, dividends from investments. They also launch a side business or run a website or sell information products.

            How income is made either passively or actively is what separates the successful from the wannabes. They are always learning ways to build multiple streams of income.

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            3. Live on a Stipulated Monthly Budget

            An average millionaire does not believe in luck and jackpot. They take the time to understand cashflow-income and expenses. Based on this, they establish a monthly budget and religiously stick to it.

            The essence of the budget is to minimize unnecessary expenses. This will help you gain complete control of your financial life. Budgeting helps you to avoid overspending to achieve your financial goals. Here’re some tips to help you stuck to your budget: 32 Hacks for Sticking to Your Budget

            4. Manage and Maximize Money

            The most significant education for a millionaire is financial intelligence. Nobody attains financial freedom without gaining financial intelligence. This is the more reason millionaire regardless of their income update their knowledge about tax strategies.

            They always seek to reduce their tax bills. One approach they employ is by living or incorporating their business in states with no income tax.

            Do you know that about 60 companies paid $0 legally in the 2018 tax year? Some of these companies that ‘avoided'(note: not evaded) federal income tax include Chevron, Amazon, Halliburton, General Motors, Delta. The total income. Their total US income was totaled at $79 billion with an effective tax rate of -5%.

            What’s the deal? They got a tax refund. How do they accomplish these?

            An ITEP report indicated that they have the culture of throwing huge sums at tax experts who assist them in discovering creative, as well as convoluted means of paying little tax as much as possible. [2]

            5. Avoid Debt

            Another habit that separates the millionaires from the rest of the world is how they manage debt.

            They don’t live an extravagant lifestyle and only buy what they need and can pay for. They do not book hotels and flights by using their credit cards to pay for them.

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            They are conscious of the interest rates even when they use credits cards or take loans. They use those facilities for their advantage or pay with cash because of its zero percent interest rate.

            6. Set Daily Goals

            It does not matter if they are setting business, career, or financial projections; they have the success habit of setting short term goals. They plan daily and weekly to generate momentum in achieving their long-term goals.

            Ensure you prioritize when setting daily goals. This will help you to achieve the most important to-dos on your list.

            Setting priorities will help you to focus on highly rewarding activities. If you desire financial freedom, it is wise to pursue activities that earn you thousands of dollars than hundreds of dollars.

            7. Don’t Act Rich

            The goal is not to act rich but to be productive. Interestingly, Thomas Stanley buttressed this in his book that the most prestige brands of cars, about 86% percent are toys of the non-millionaires. People with huge fortunes tend to drive exotic cars but in reality, the largest consumers of pricey cars are aspirational. [3]

            According to findings by Experian Automotive Researchers, 61% of individuals who earn $250,000 or more rarely buy luxury brands. Instead, they buy Hondas, Toyotas, and Fords like the rest of the world. The reason is they are not ready to spend money on premium cars that tend to drop in value in a couple of years as it would cost money. Millionaires invest in assets that appreciate. [4]

            8. Own or Buy Businesses

            In Robert Kiyosaki’s cashflow quadrant, he divided how you earn income into four quadrants. The E and the S quadrants take the left position while the B and the I are on the right side. According to Robert, it is possible to be on all quadrants, but the millionaires are not.[5]

            • E stands for employee – they work for others
            • S stands for self-employed – they work for themselves
            • B stands for a Business owner- employees work for them (500 or more employees)
            • I stand for Investors – Money work for them like Warren Buffet.

            Your goal is to move from the left quadrant to the right quadrants where you own big businesses or make money work for you.

            It is possible to become financially successful by pursuing what you love. For instance, if you love writing, aspire to be the best seller. Wealth and passion work together.

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            9. Avoid Get-Rick-Quick Scheme

            A millionaire holds patience as an essential virtue. It takes patience to become successful, not only in finance but in every aspect of life. While it is possible to become financially successful at an early age, most millionaires hit it at age 50. They live a moderate life, invest in their future and retire rich.

            Bonus: How Can You Develop the Millionaire Success Habits?

            Having learned these habits, the next question is,

            How can I develop the Millionaire Success habits?

            Here are six values you will need to develop:

            Establish Your Life Vision

            You need to be clear about what you want in life to set yourself for a life of success. Your vision has to go beyond becoming a millionaire to understanding why you want to become one. Any great entrepreneur you will ever find has a clear vision and an established mission.

            Understanding why you are doing what you do will drive you to become the kind of successful person you want to be.

            Make Your Passion a Profession

            When your passion becomes your profession, work becomes pleasurable. Loving what you do enables money to flow to you and through you.

            So what’s going to be? Wake up every morning by speaking positive words into your work, love what you do, and focus on the work that brings you joy.

            Take a look at this article and learn how to make it happen: 5 Steps To Turn Your Passion Into A Career

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            Focus on Solution

            Focusing on the solution means establishing the problem that you or your business address. This will help you focus on the solutions when others are faced with challenges.

            A millionaire has a mindset that is fixed on the solution. He or she knows there’s a way out, and that every problem is an opportunity in disguise.

            Improve your problem solving skills with these tips: 6 Effective Ways to Enhance Your Problem Solving Skills

            Develop Your Leadership Skills

            Leadership skills are an asset that is indispensable if you want to develop a millionaire success habit. The more you hone your leadership skills, the more you will attract leaders who share your values.

            Be Growth-Focused

            Millionaire entrepreneurs prioritize self-improvement. Here’s how to achieve it:

            • Get a coach. Coaching will impact your life, and you will achieve peak performance in life and business when you have a life coach.
            • Be coachable. It is not enough to have a coach; you must be coachable. Sometimes, you need feedback and counsel to reposition your life and business. A coach has the wisdom and experience to counsel you from a higher perspective. The more you receive feedback and work on yourself, the more you become better at what you do and who you are.

            Flip Your Thought Pattern From Acting To Being

            It is not enough to have a millionaire success habit, you must also become a person of positive influence. This is how you can become significant. Bill Gates is not only rich; he is changing lives in Africa and different parts of the world.

            If you want to become successful, you must first be and think like a successful person. This is how resources you need can flow into your life.

            Here’s a final thought from me:

            It is not enough to do something to have something; success is about being someone who possesses what is needed to take positive and inspired actions.

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            Featured photo credit: Austin Distel via unsplash.com

            Reference

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