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Picture yourself 20 years from now. What do you see? Perhaps you see yourself traveling the world, enjoying new cultures and meeting exotic people. Maybe you see yourself sitting in the comfort of your own (paid for) home making memories with your family. You might even picture yourself as a successful owner of your dream business.
All of the above options are absolutely attainable. The road to reaching these dreams is living modestly now.
Modest Living Now Equals Affording Your Dreams Later
It’s a completely natural feeling to want things and want them now. After all we are human beings. The key to getting the things you want is sacrifice. Live modestly now, live it up later.
Living modestly does not equate to living like a pauper. It is simply a realization that the sacrifices made now are beneficial to the future. Living modestly does not mean that you have to pinch every penny, clip every coupon, and take advantage of every sale on toothpaste. It is sacrificing in larger areas such as housing, vehicles, and clothing long enough to meet your financial goals.
Imagine the amount of money you would be able to save with a few sacrifices. Living in lower cost housing could free up several hundred dollars a month. Opting for a used car that you can afford to pay cash for will save you thousands. Skimping on the new clothing and latest gadget purchases can save you a substantial amount every year.
I have found that one of the biggest hurdles to jump when starting to cut back financially is worrying what others think of you. At times it can be tough to live modestly when it feels as if everyone around you is living it up – buying the latest and greatest of everything.
The occasional thought of what everyone else is doing and how they are living will come up – it’s virtually inevitable. As long as you can keep the picture of financial security and your chance to later live it up (responsibly) in mind you will be able to keep your focus.
Your Sacrifices Pay Off
When you have become modest with your money and started saving for the future, financial security will be your ultimate reward. With a little bit of investing and planning you will be able to watch your money grow and will be able to afford the things you once dreamed of. In the end you will be happy with every sacrifice that you made.
Author Bio: Alexa is a newly single mother to two little girls. She chronicles her journey as a single mother trying to make it big at Single Moms Income.