Do you often feel caught in a continuous cycle of hustle? That’s an experience I’ve intimately shared over the past few years.
Recently, my husband and I hit a financial milestone – a rewarding moment as we made a 5-figure income for the first time in a month. Earning more is appealing to me because it expedites our progress towards financial goals. However, the intense work that led to that win left us drained.
While the hustle can be invigorating, it’s not always viable in the long run. The constant depletion and pressure can wear one out. It’s okay and even necessary to slow down and hit pause occasionally. One of the ways to break from the constant grind without financial compromise is via simplifying your life. Here are some strategies on accomplishing that:
1) MINIMIZE POSSESSIONS
Start by paring down your possessions. Many of us possess items that we don’t actually need. These often contribute to financial strain as they require upkeep and potential upgrades.
I began by decluttering unnecessary items that add little value or joy to our household, cutting down financial burdens and clutter.
2) DOWNSIZE YOUR HOME
Consider downsizing your living situation if it’s financially burdensome. If housing costs take more than 30% of your gross income, it might be time to rethink your living options.
My family of three comfortably lives in a two-bedroom apartment, managing not to accumulate excessive possessions. A smaller home that’s easier to maintain is what we aim for even as we aspire to homeownership.
3) ELIMINATE YOUR LATTE FACTOR
The latte factor is a budgeting strategy that moves small everyday spending towards savings or re-integrates it into your budget to support cash flow.
Go beyond coffee expenses and cut out other small, frequent expenses, especially if they don’t bring much value or joy to your life. If cutting them out doesn’t negatively affect your life, you can save the money, simplifying your financial management.
4) TAKE ADVANTAGE OF FREEBIES
Utilize free offers and events, which can provide relief and leisure without hurting your wallet. Examples include loyalty rewards like gift cards, birthday freebies, or using coupons that cater to your needs.
Exploring free community activities can also offer entertainment that doesn’t strain your budget. Visit local free zoos, libraries, or enjoy free movie rentals, at-home date nights or outdoor workouts to cut costs.
To conclude, while the hustle can be worthwhile, it shouldn’t overshadow your life completely. Even while working towards financial goals, it’s vital to take time for relaxation, family, and personal well-being without the guilt of leaving the hustle.
With a simpler, less cluttered lifestyle, you won’t feel obligated to work as hard to maintain it, and you’ll still meet your financial goals.
Is a simplifying lifestyle shift something you’re considering? Why, or why not? I’d love to hear your thoughts.
