9 Benefits Of Living Below Your Means

By Be The Budget

Do you dream of retiring, getting out of debt, building wealth, or just living a life that doesn’t rely on your next paycheck? Well, no matter what goals you have for your financial future, they require one common thing: living below your means.

But, what does it mean to live below your means?

Put simply, living below your means is the act of spending less money than you earn. For example, if you earn $3,000 per month, but only spend $2,500, then you are living $500 below your means. This is an important financial habit, because it allows you to save, invest, and build wealth.

But, let’s be honest, that’s easier said than done.

Living below your means requires you to trade immediate pleasure for the sake of long-term gain. It means placing a higher priority on saving than you do on spending. And, above all, it takes self-discipline and sacrifice.

That said, what if it isn’t as tough as everyone makes it out to be?

What if, instead of focusing about all the sacrifices of living below your means, we focused on all the benefits? Because, seriously, there are tons of them.

Well, that’s exactly what we’re going to do!

In fact, here are 9 benefits of living below your means.

1. Living Debt Free

For a long time, I thought living below my means just meant my monthly payments had to be less than my monthly income. The problem with this way of thinking, was that it allowed me to take on debt that I couldn’t actually afford.

What living below your means, actually means, is only buying things you can pay for in full. That means no credit card debt and no loans. Just cold hard cash.

Now, when you first read that, you might think it sounds boring, and a little bit insane. But I can honestly tell you that it is wonderful to get a paycheck and not have to subtract monthly payments from it.

It is exciting when you hop in a car that you own outright.

It is glorious watching your bank account grow instead of shrink.

And it is thrilling to know that as long as you live below your means, you will never have to pay off debt again. Ever.

2. Less Stress and Anxiety

Have you ever felt ‘buyer’s remorse’? Well, when you live below your means, you almost never experience it.

You see, when you live below your means, every dollar has a purpose, and every purchase requires thought and intentionality. When you know how much money is coming in each month, you have to be disciplined with your spending to operate within that amount. And with that discipline, comes a surprise reduction in stress.

You won’t lay awake at night wondering where your money went this month. You won’t be stressing over the length of time between now and when you get paid. And monthly living expenses like water, heat, and electricity won’t even come close to making you sweat.

Click Here To Read More https://bethebudget.com/benefits-of-living-below-your-means/

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How To Approach Cryptocurrency Investing


Exploring cryptocurrencies can give way to exciting market opportunities and profit-making. Navigating this ever-growing landscape is something novices tend to take lightly, however. While some crypto-assets will perform very well in the long run, not everything is worth investing in. 

A Slow And Steady Evolution

The cryptocurrency industry is now over ten years old and continues to evolve every day. Despite the current media attention, crypto-assets like Bitcoin and Litecoin have not seen much positive attention since their inception. The media, central banks, and governments have ridiculed the idea of Bitcoin and altcoins for a very long time. Slowly but surely, that narrative is changing for the better, although certain aspects remain a bit wonky.

For those who want to invest in cryptocurrencies, exploring the projects providing investment and monetary use cases is often the smart approach. Contrary to traditional instruments, cryptocurrencies can provide a faster, better, safer, and cheaper alternative to complete specific monetary actions. However, there are some potential trust issues to contend with, primarily due to a lack of regulation. 

As major companies begin exploring options in this industry, including the likes of Square, PayPal, and Tesla, there is a bright future ahead for Bitcoin and perhaps Ethereum. Whether that warrants investing in either of these currencies is a different matter. For investors, it is crucial to make this decision on their own accord after carefully evaluating the pros and cons. 

Read more https://vaultoro.com/how-to-approach-cryptocurrency-investing/