Timely Lessons in Simple Living and Financial Emergency Planning
In the financial emergency of today’s fast-paced world, living simply is a powerful antidote. Not only does it allow you to prepare and manage your money more effectively, but it also brings the added bonus of contentment. Here are some valuable lessons on simple living that help lead to a financial and emotional equilibrium.
1. Start Planning Early
You should not wait until you are in a financial emergency to plan for one. Doing so is, of course, the essence of “emergency” planning; yet, many people approach the crisis planning as if it is something that can only be done reactively. Planning that happens in the moment—when you are most stressed and most preoccupied with the last-minute details of “how will I survive this?”—is far less practical than if it had been done in a calmer moment of foresight and hindsight.
2. Embrace Minimalism
Reaffirm that a life with fewer things is a viable life. A conscious choice to live lightly can help you make better, more sustainable financial decisions. It doesn’t equate to a life of austerity; rather, it often results in an abundant life based on need, and in many instances, even whims.
3. Set a Family Budget
The process of managing finances begins with the creation of a budget. Involve your family in this essential undertaking so that everyone understands and agrees to the financial parameters you have set for spending and saving.
4. Practice Mindful Spending
To live mindfully is to deliberate over your daily financial habits. Consider how you allocate your time and resources, and make any necessary corrections to ensure you’re on a path that leads to fulfilling your goals.
5. Avoid Impulsive Purchases
A key to living simply is refusing the temptation to make impulsive buys. This means taking the time to think through a purchase that isn’t absolutely necessary. Too many of us buy without thinking and then wonder why we feel overwhelmed and weighed down.
6. Seek Alternative Entertainment
Find methods of self-entertainment that don’t compel you to spend money. Cultivate pastimes, spend your daylight hours in nature, or hold game nights at your residence. These are excellent ways to be thrifty while enjoying yourself.
7. Save on Gas Expenses
As gas prices climb, implementing strategies to save money at the pump has become crucial. Consider this list of means to cut your costs:
- Use Credit Cards Wisely: Some credit cards offer gas savings or rewards.
- Membership Cards: Utilize grocery store membership cards for discounts on fuel.
- Vehicle Maintenance: Regular tune-ups can improve fuel efficiency.
- Online Deals: Look for local promotions and discounts on gas.
- Consider Hybrid Vehicles: They come with good tax incentives; and fuel efficiency is built into their design.
- Limit Air Conditioning Use: That’s a tough one in this heat; but if you can manage to limit your use of the A/C, your gas mileage will thank you.
- Choose Affordable Fuel Options: You really don’t need anything more than regular gas.
- Time Your Purchases: The price of gas can fluctuate wildly, even from hour to hour.
- Carpool or Walk: If you can manage it, reduce the number of miles you drive.
- Maintain Tire Pressure: Under-inflated tires are like a treadmill for your engine.
- Drive Efficiently: That’s really just two rules: 1. don’t speed, and 2. don’t or brake hard.
- De-clutter Your Vehicle: You’ll be able to accelerate faster, and your engine won’t have to work as hard to maintain highway speed.
- Turn Off Your Engine: And of course, if you’re sitting still for more than a minute, turn it off.
8. Monitor Fuel Purchases
Be tactical regarding the timing and location of your gas purchases. During the fuel-buying process, be mindful of temperature. Purchase gasoline when it is cooler out to get a denser product; buy when it is hot, and you are buying a vapor. Above all, don’t fill your vehicle when prices are highest.
Conclusion
Living simply means making deliberate decisions that result in a life brimming with satisfaction and a firm financial footing. It doesn’t happen by accident. You have to plan for it, and it helps if you can visualize what your financially secure future looks like. When I say financially secure, I mean living in a way that allows you to weather financial storms that might come your way.
