For those in their mid-30s to 50s, frugal living doesn’t mean cutting back on life’s pleasures. It is about finding the luxury in simplicity and making wise decisions that improve your life without breaking the bank. Let us look at how to live both luxuriously and frugally.
1. REDEFINING LUXURY
Luxury is often associated with high-end brands and lavish spending. However, true luxury is defined by high-quality experiences and moments. It is about appreciating what you have and seeing value in simplicity.
2. TRAVEL SMART
Travel does not have to involve expensive hotels and first-class flights. Consider low-cost options such as off-season travel, home exchanges, or staycations. Plan and book ahead of time to get the best deals and experience luxury for a fraction of the price.
3. GOURMET COOKING AT HOME
Dining at high-end restaurants is enjoyable, but recreating those experiences at home can be equally rewarding. Invest in new cooking skills, experiment with different recipes, and enjoy gourmet meals in the comfort of your own home.
4. SMART SHOPPING
Take a mindful approach to shopping. Put quality ahead of quantity. It’s better to have a few well-made items than a closet full of things you hardly use. Look for sales, discount outlets, and thrift stores to get high-quality items at lower prices.
5. DIY HOME DECOR
You can create a luxurious home environment without spending a lot of money on decorations. DIY projects, upcycling, and a little creativity can help you transform your space elegantly and affordably.
6. INVESTING IN EXPERIENCES
Instead of material possessions, invest in experiences that create lasting memories. Concerts, art classes, local festivals, and outdoor adventures often offer more fulfillment than material goods.
7. SELF-CARE ON A BUDGET
Luxury is more than just material possessions; it is also about self-care. Instead of paying for expensive spa treatments, create your own at-home spa experience. Practice yoga, meditation, or have a relaxing bath – affordable yet luxurious ways to care for yourself.
8. SIMPLIFY YOUR LIFE
Remove clutter and simplify your living space. This not only makes your home more comfortable and manageable, but it also allows you to focus on what is truly important.
9. GROW YOUR GREEN THUMB
Gardening can be a relaxing and rewarding way to experience luxury. Plant your own herbs, vegetables, or beautiful flowers. This not only improves the ambience of your home, but it can also provide you with fresh organic produce.
10. EMBRACE COMMUNITY RESOURCES
Take advantage of community resources such as libraries, parks, and free local events. These can provide free entertainment, education, and the opportunity to connect with others.
Frugal living means appreciating and enjoying life’s simple pleasures. It’s a mindset that values experiences and quality over price tags, leading to a more sustainable, fulfilling lifestyle. Take this approach to uncovering the hidden luxuries in everyday life.
Learning about money can give you the power to make smart financial decisions and reduce money-related stress over time. That’s where the LEARNING HUB helps you gain more financial knowledge, while providing you with the support and help you need.
Let’s talk about how your thoughts, views and what you possibly heard when growing up is seeing you still miserable and poor!
Your attitude combined with who taught you about money – has shaped the way you live today whether you are experiencing financial stress or have money behind you and living a stress-free life.
I want you to answer this question?
Who was your role model, who did you learn your money management skills from while growing up?
Did your parents or grandparents ever talk to you about money?
Having conversations around the dinner table while growing up about money is equally as important as the “Birds n Bees” talk that most of us are given at a certain age – if you know what I mean.
They say talking about money is taboo but I disagree. If you don’t start talking about money how are you ever going to learn about managing it more effectively?
Whether you grew up talking about how to save and use money wisely or not has shaped your perception today on how you live your life and what kind of a lifestyle you have created for yourself.
You will either have money in the bank or spend every dollar you earn.
You see 80% of us are managing our money out of sheer habit with no real understanding why and this has adverse effects down the track if you haven’t got a grasp on how to work it well. As it can either make or break the quality of our life in years to come.
I was having this very conversation with my Mum a while back and she was commenting that money was never talked about. There was never the education around this subject like she said is starting to happen today.
“Mum went on to say that it’s not until you retire that you start to feel the pressure or relief of how you worked your money. She stressed that saving is not a thing for today’s generation and she wished they knew the real power of this as she said it’s going to make a huge difference to the quality of someone’s life at the end of their working life”.
We are sadly creatures of habit. We do the same things over and over again often expecting to get different results but of course, we’re going to get the same results if we don’t change our thinking or our habits.
If you have decided you want a better life, then you have to look at what your belief is around money.
What did you hear growing up about money?
I’m guessing a few of these saying probably popped up and has created in some part a belief system to which you manage your money today.
Money doesn’t grow on trees.
It takes money to make money.
Some people, without a doubt, have more dollars than sense
He who has the gold makes the rules
A good name is better than riches.
Health is better than wealth.
Money is the root of all evil
You can’t take it with you when you die – now that’s spoken like a true spender lol! and the last common saying you may have heard is …AND
Money isn’t everything
Another contributing factor to what you may have heard about money is through sources like:
TV and regular news bulletins – which the media is great at giving you the grim view about financial markets and money today. They thrive off the negative stories.
How many times do you hear positive news stories about everyday people making it big (yes we hear about the lotto win stories) but over time we know that if those winning the lotto haven’t got a handle on how to manage money then in a few short years they will be back to where they started before winning.
Another popular source for hearing about money is when catching up with friends, especially from those friends that consider themselves a wiz at investing.
Offering you their 2 cents worth of knowledge on how they made a fair bit of money on xyz stock or a particular investment, but never how much they lost during the process. I challenge you to ask them how much they have lost up to that point!
There are so many areas to hear and learn about financial education.
A word of caution though to check where you’re getting your information from to see if it’s from a reliable source.
AND always trust your gut instinct because if it looks too good to be true then it probably is.
The subconscious is such a powerful thing that what you think about all day long is what you attract and this applies especially to your lack or abundant thinking about money.
When we keep saying to ourself ….oh we have no money… we’re poor…. we’re never going to get ahead then that’s what you’re going to keep getting.
But when you say to yourself, ok I’ve got this I’m going to keep putting money away and not touch it. I’m going to use cash for a while to curb my spending. I’m going to get there and we’re going to be debt free in no time then you will.
Keeping a positive mindset is one thing but actually doing the thing that’s going to free you up financially is another and both go hand in hand.
So what could you do today to change the way you think about money?
Motivational sayings are especially good when you feel a negative or disbelieving thought come up.
Having a massive belief in yourself that you’re going to make it is another way to change things.
Watch how things start to improve when you combine a positive mindset with activity and action.
Three facts about money I’m going to leave with you are:
Having good money habits takes enormous pressure and stress off you worrying about how you can afford to live day to day.
Having an awesome mindset can move you from poor money habits to good money habits, and
Lastly, anyone can change their belief around money if you decide to choose to, regardless of how you grew up and where you came from.
If you’re looking for more help and guidance in managing your money and getting your money back into great financial shape – then check out my ONLINE PROGRAMS that I’ve created to teach people this very thing – how to move them into awesome financial health.
Also available is my monthly coaching program that helps you to stay on track while you achieve your financial goals.
Look forward to seeing you in one of my programs.
Until next time…….here’s to your financial health, wealth & happiness.
Changing a money habit is NOT merely a matter of saying… yep, I’m not going to spend everything I earn this payday or I’m not going to overspend on my credit card this month from impulse buying.
Poor money habits I believe come from a deeper concern than just spending on meaningless stuff. Stuff that half of the time we don’t need or even use.
So where do these money habits come from?
Well before I answer this. I want to remind you what an actual habit is.
A habit is a behaviour that is learned when we regularly keep doing the same thing over and over again without even thinking.
Money habits are no different than the habit of brushing your teeth when you first get up in the morning or after breakfast. It’s a behaviour that becomes ingrained in how we treat and respect our money. One that we are fully aware of the consequences that follow if our habits are from poor money decisions.
Is there a cure for our poor money habits?
Yes, I believe there is. However, it takes time, discipline, awareness and mental strength in order for anyone to break this habit.
How long can it take to change a habit?
According to psychologists, while it may take approximately 21 days of conscious and consistent effort to create a new habit, it takes far longer to break an existing habit.
From personal experience in working with clients who want to change their poor money habits – it takes a lot longer.
You see there are deeper issues at play why some of us have poor money habits that can at times border on addiction. Just like any addiction, it’s more often than not about something that’s happened in the past.
A habit is not necessarily an addiction, though the two are strongly linked. A habit is any conscious behaviour you do on a routine basis.
Addiction is more about the behaviour to an excessive degree whereby someone feels unable to stop or control it.
Our self worth is often tied to our poor money habits. Our poor money habits can come from the messages we heard growing up and from the examples, we saw when we were younger.
Some of us spend when we feel low or unhappy to give us the kick “or high” we hope to make us feel good about ourselves. The hope that is supposed to fill the void we’re so looking to fill.
When in fact it’s much like the high you get from either an alcohol or drug addiction. Feels good at the time but hell when coming down from the high.
What’s the price of not changing our money habits?
There’s a high price to pay and that comes in the form of massive debt, poverty, unhappiness, envy & jealousy and often health issues.
So how do you move from poor money habits?
What are some of the ways to transform a poor money situation?
3 ways you can change a money habit is to:
1. First, acknowledge that you have a problem. A problem that you’re spending more than you earn, A problem that sees you with credit card debt, personal debt and other debt that you have no hope in paying off anytime soon. Being aware that you’re deep up to your elbows in debt and it’s time to get out, this is the first step.
2. Get help. Get the support you need to help you move forward. Having someone who understands and willing to help you means you’re not alone. It also gives you someone you can be accountable to. Someone who has a vested interest in seeing you succeed and live a better life without financial worry or stress.
3. And lastly, find your purpose – YOUR why. The reason you want a better life and one that doesn’t include massive debt or poor money habits. Set some goals. Write down how you want your life to be. What you want for your life and keep this at the forefront of your mind.
Writing down your dreams, goals and desires keeps you focussed and helps you work towards the bigger picture and what you want in life.
Breaking a habit takes a lot of willpower and motivation.
Ending the cycle of poor money habits is generally easier when it’s something you want to do rather than something others say you should do.
For anyone looking for coaching, support, education and help in moving towards their goals, then check out my “no lock-in contract” monthly coaching program.
The MONTHLY COACHING PROGRAM provides you with the support you require throughout your financial journey for a fraction of the price for $37 per month.
I’ve just opened up this program, as I’m getting a lot of questions asking if I have a monthly coaching program for a small cost.
In a world where tech advances have in many cases, made life easier than our parents and grandparents time. Why is it that for some of us, we are less content and happy with what we have – than previous generations?
I was scrolling on LinkedIn the other night or should I say morning and thought how so many of us are all vying for a piece of the pie. The pie that enables us to pay our bills, grow our business and build on long term wealth.
It was the early hours at 2 am that I sat at my desk wondering why.
I was supposed to be sleeping but wasn’t because my brain was overloaded with thoughts on how I can impact and help so many people who, on the surface appear to be doing well, but are not and are struggling financially.
Struggling to get ahead, trying to make ends meet and longing for more financial freedom.
Now I’m not talking about the kind of freedom that few achieve from massive wealth like Tony Robbins, Bill Gates or the Richards Branson’s of the world!
I’m talking about the financial freedom you get from not having to worry about mortgage repayments or even having a mortgage at all.
It’s the freedom of never having to worry about how you’re going to make your money stretch further and the freedom of not having to worry about money on a day to day basis.
That’s the kind of financial freedom I believe most are striving for.
There are many possible reasons why so many are financially struggling…
Here’s my top 3:
The obvious one is spending more than is earned.
From extensive personal debt that never seems to get paid off, and
Keeping up with those more fortunate or “keeping up with the Joneses” as the old saying goes.
Spending big on personal debt, whether trying to keep up with others or not and thinking you’ve got it covered at the end of the month (when you don’t) is a disaster resulting in crippling interest repayments.
I do feel we’ve lost some of the basic money management skills and fundamentals in how to work money to our advantage.
We don’t plan and save money. We think the good times are going to keep rolling on.
The problem with this mentality is that when an unexpected interruption comes along, whether it be a relationship breakdown, loss of income or our health is under pressure, we’re just not prepared and this has an enormous impact on our financial wellbeing.
Without the foundations in place when things go pear-shaped, as they do from time to time. Not having a money safety net to catch you and take the pressure off while you get back on your feet, can become very stressful.
There’s no denying it that people are doing it tough today.
I speak regularly with individuals, businesses owners, tradies and other professionals who are all looking for the same thing.
They want to get ahead, take the pressure off worrying about money coming in and just have more fun in life.
What I’m hearing and seeing is that under the surface people are really struggling.
They’re either doing it really tough feeling overwhelmed and struggling or frustrated and in pure survival mode.
The one thing I do know is that when you have the money foundations set right – it takes enormous pressure off.
Sadly, money stress continues to be the No 1 factor amongst our peers, our friends and our family.
The way to alleviate this stress is to look at financial education and getting the basics down and then building from there.
The start in my opinion to any healthy financial position is first looking at what I call “cash essentials”.
Cash Essentials is about ensuring you are saving and putting an amount every time you get paid or paid for work you do in separate a savings account.
Putting a minimum of 10% into a savings account away from your everyday banking is a forced discipline and if you put this on autopilot the amount you’ve set gets deducted and transferred into this saving account.
It may not feel like much at the start but when you factor in how quickly this can compound and grow you’ll be amazed at what you will have a few short years.
I’m still surprised today that so many do not have a regular savings plan set up.
That’s the first and crucial step to building financial muscle. The second is looking at what you’re spending.
It’s all too easier today to overspend and credit cards were designed that way to help you spend money you probably don’t have.
While we are becoming more and more a cashless society, there is a way you can get back control and that’s by switching from a credit card to a debit card. The debit card acts the same way but you’re only spending what you have and not what you don’t have on credit.
This is an awesome way to ensure you don’t overspend for those tempted to keep pulling out the plastic and losing control over their spending.
These suggestions are just a couple of basics that can be put in place today. However, in the end, it’s up to you and only you if want to live a financially free life.
It’s funny how we always find the money when it’s something we want and this is why we are a nation of spenders and not savers now.
If you’re serious about becoming financially free there’s an awesome resource available at “How to Keto Your Money” a 21-day kick start money program design to get you and your money is shape as quickly as possible.
Oh my gosh, can you believe it we’re now halfway through the year?
HELLO JULY! I feel like I only just came back from the January holidays.
Before we know it Christmas will be here and the stresses of having to make our money stretch that little bit further will be upon us.
So today, I feel it’s time to share some tips on preparing yourself before the year is out and having your money work a little smarter for you by looking at ways you can spend less and save more.
In this blog post, I’m going to share with you my top 10 tips on how you can spend less without feeling like you’re missing out.
So let’s dive into it.
No 1. Check Your Bank Accounts Regularly
First thing you need to do is check your bank accounts regularly. This first tip will save you a lot of money from extra charges and online fraud that seems to be happening more and more today because we’re buying more online.
Go online to your banking app or if you receive bank statements via post then check them. Look down at the debit column and make sure what’s coming out is what you’ve authorised.
Check to see if there’s been no internet fraud on your account, any subscriptions that you thought were cancelled that haven’t been and make sure there are no unauthorised amounts. If something doesn’t look right or you don’t recognise that transaction on your statement then call your bank immediately to get more information on what that debt is for.
Today with the click of a button via our fingerprint on our smartphones we approve new apps and before we know it we’ve subscribed to something that we hadn’t intended on having long term but have forgotten to cancel the subscription.
So make sure you go through regularly your bank account statements. This is the first step to keeping more money in your pocket.
No 2. List Your Debts Down
Listing your debts down will give you an idea how much you’re throwing away on interest payments that could be better used for growing your nest egg.
Look at your current debts, whether they be personal loans, credit cards, store cards or interest-free loans. Grab a piece of paper and at the top label it “Debts”. Then make 4 columns.
The first column you’re going to call it “name of debt” this is where the debt came from ie; the bank, company or person you took the loan out with
Next column you’re going to call “amount owed”
Then column 3 will be named “minimum monthly repayments” and
The last column you will label “interest rate”.
I’ve already prepared a worksheet that’s available in the resource area which you’re more than welcome to download to make it simpler and easier for you to get your debts down on paper.
Next, I want you to take a good look at what’s going out every month from the “minimum monthly payment section”. Add that column up to see how much you are giving away to the banking institution every month on your debts.
Ok so you may be going into heart failure right now and need resuscitating or you might be feeling ok realising that you don’t have as much debt as you had thought.
So what I want you to look at is whether there are any debts you can quickly pay off.
When it comes to your credit card call your bank or credit provider and negotiate with them for a reduced interest rate. If they’re not willing to look after you, research other providers who are more than happy to offer you a 0% interest rate on balance transfers for a specified period of time.
Banks are more than happy to talk to you about transferring your credit as they know secretly that you’ll never pay the card off before the free interest expires. But because you’re super smart – you will be paying down as much as you can on your credit card debt before the time comes due, so you’ll end up with a zero credit card balance in the end thus saving you hundreds and I mean hundreds of dollars in interest payments!
This is definitely one way of putting more money back into your pocket and seeing you spend less on monthly bad debt interest payments.
No 3. Start Using Cash
While you’re enjoying your interest-free credit card for the next 6 or so months make sure you leave your credit card at home and take cash with you. This will stop you from spending on purchases that you can’t afford and will also give you the chance to clear the current debt away.
Using good old fashion cash instead of using credit as this will see you spending less money because you’ll become more aware of what you’re spending your hard earned money on.
No 4. Your Small Change Adding Up Big
Save your coins!
How many times do you pay for things with cash and end up with small change and coins in your wallet or purse?
Go back to what your grandparents did and keep a jar in the kitchen cupboard and every time you get coins, add them into the jar. You’ll be surprised at how quickly it adds up to some decent dollars, which you can then use to pay off your credit card debt faster, or put towards your savings account.
No 5. Zero Monthly Bank Account Fees
Next, look for a bank account that has zero bank account fees.
Did you know you could save in excess of $500 per year just by banking with a bank that doesn’t charge monthly account keeping fees? There are plenty so shop around.
I recently did this with my personal banking accounts and I now have no monthly account keeping fees which add up to more savings and less spending.
No 6. Lookout For Foreign Transaction Fees
When shopping for a bank with zero monthly account keeping fees I want you to keep in mind whether they offer a visa debit or credit card with no foreign transaction fees.
Why is this important? Well, every time you use your credit card to buy things online whether it be via PayPal or using your credit card, you sometimes are buying in a different currency and when it converts back you may be paying a foreign transaction fee.
These are hidden fees that most consumers aren’t aware of.
In my business I use a range of apps and services that are generally from the US. When I had my previous visa debit card/credit card to pay for them – I was often slogged a foreign transaction fee and because I checked my accounts regularly started seeing this increase.
So I rang around to find out which bank or financial institution offered a card with no foreign transaction fees and luckily when I moved my personal and business banking halfway through last year I was able to take advantage of a card that offered “no foreign transaction fees”. This has seen me save hundreds of dollars a month.
I honestly hated seeing money disappear on fees, especially given I’m a money person who loathes having money come out of my account that I didn’t use or intentionally spend on. This has given me more back into my pocket, which I love.
No 7. Preloved Items
An area often overlooked is buying items second hand.
Don’t be too proud to buy something second hand online from companies like Gumtree or eBay – as you can pick up some awesome bargains. I also encourage you to go for a clean out around your home and look to earn some extra cash with items you can move on through the use of these free online selling sites.
For anyone struggling to get an emergency fund up to $2000, this is a great way to de-clutter while earning money on stuff around your house that is just gathering dust.
No 8. Bargain Shop & Shopping Online
Look for specials. Again don’t be too proud to get a bargain or special when you can.
Here in Australia, there is an app called “Fuel Watch” that lets you know the cheapest fuel for the day.
Filling up your car on the day that fuel is between 10- 15 cents cheaper will save you loads at the bowser.
There are other ways you can spend less and that’s by doing your shopping online.
We save hundreds of dollars by doing our shopping online and retailers encourage you by offering specials throughout your online shopping experience.
No 9. Discounts & Special Offers
Number 9 on my list is using Entertainment Cards & Discounts.
I wanted to share this one with you especially, as the other day my parents were buying their great nephew a 21st birthday present at BCF which is a camping and fishing store.
When they went to purchase his $300 gift card – they presented a card called The Entertainment Card.
This card offers many discounts and specials on things like dining out, shopping, travel & leisure to name a few.
So when they got to the checkout they received a 10% discount which meant our nephew is going to receive a $300 gift card that only cost my parents $270.
Bargain! Not just for my retiree parents but for anyone who loves to grab a bargain and save money.
When you start adding up the savings and discounts you can receive, it adds up to the hundreds sometimes thousands of dollars depending on what you’re buying.
So don’t be too proud to check out where you may be able to get a discount – as essentially you’re leaving good money on the table.
And lastly, another way for you to look at spending less and having more money is to…
No 10. Make Your Own Coffee
Yep, I know you love to go out and have someone make your coffee on a daily basis – I get it – coz I do too.
Why not look to invest in a coffee machine where you can buy good quality coffee beans or pods and then treat yourself once or twice a week to a takeaway coffee.
Today it appears that everyone I visit has their very own coffee machine at home.
Australians love entertaining and part of this is serving good coffee to our guests.
We are no longer happy with just servicing up our guest Moccona – we want to impress them with a good cup of coffee.
When you do the numbers – coffee machines depending on the type will pay for itself in no time.
An example of this is if you were to look at the upper end of a pod machine by DeLonghi – that’s fully automated you can pick them up new for under $350 – $400.
I’ve seen this fully automated pod machine come down to as low as $250 during sale times.
Now if you’re really clever like my husband he used points that accumulated on his credit card linking his spending to a points system and got our machine for zero dollars yep zero!
Now there are of course cheaper machines but for this example, I’m using the one we got for our camping travels as we have another bigger machine on the kitchen bench.
If you are purchasing 1, 2 or 3 coffees a day which I know a lot of people do it could be costing you around $10 – $15 + a day per person depending on what type of coffee you order and what size AND don’t forget to add in the sweet treat that normally goes with it!
We save hundreds of dollars when we travel around Western Australia because we take our little portable fully automated DeLonghi pod machine and we use the money we save paying for sightseeing instead.
So how long do you think it would take for your $200 – $300 coffee machine to earn its keep?
Well, it would take just on a month before it would have paid for itself and even less if you look at cheaper one.
Don’t believe me then do the numbers yourself – as you may be surprised at how much you are spending daily if not weekly on coffee.
Today there are so many ways to put more money back into your pocket while spending less and without having to cut costs or stick to a budget that most of us struggle to work with.
I trust this has given you some inspiration on how you can look at ways you could spend less, put more money back into your pocket and start feeling good about the way you can manage money better.
Where are the ways you could spend less while enjoying more money in your pocket?
Leave me a comment below as I’d love to hear from you.
Until next time here’s to your financial health, wealth & happiness.
