The concept of money is an odd one, the world revolves around money – but its value is ultimately related to the things we can buy with it.
However, the feeling of being “rich” isn’t limited to the pounds we have in the bank but how we spend our money – so, even if you have a small budget you can still feel rich! Here are six important habits to adopt so you will feel like you’re living the life of luxury on any budget.
1) Find a Basic Level of Financial Security
This is the first step on your journey to financial freedom! Urgh – yes, we know it’s not particularly exciting but once you’ve reached this stage, it will take the weight off your shoulders when it comes paying for unexpected costs or emergencies that would have previously left you with no money until payday.
A few quick tips to help you become financially stable include:
- Creating a monthly budget
- Paying off any outstanding debts first
- Setting up an easy-access savings account, separate from your main current account, for emergencies
- Spending some time looking at different savings options to maximise the returns
Check out our helpful guide dealing with debt on a tight budget. Here you’ll find eight steps to get you started.
2) Keep it Clean & Live the Dream
It might not seem like an obvious way to feel rich, but if your environment is free from chaos, it will help you feel calm and in control. No matter where you call home if it’s clean and organised it will help you to feel relaxed and comfortable – one of the many side effects of leading a rich life.
Here are a few quick ways to keep your home tidy – things which you can add to your daily routine and don’t involve hiring a housekeeper:
Dedicate 20 Minutes a Day
Each day apply a good 20 minutes to hoover, clean all your surfaces and put away any items which are not in their home. Depending on how many rooms you have in your home, it may be easier to do a room a day?
Have a Weekly Deep Clean
You may think that this is the most boring way to feel richer, however, if you put on some of your favourite music, it will help to make it more enjoyable. Set yourself cleaning goals to achieve before the song ends or create a playlist based on how long you think it will take you to clean your home – and once it stops. You stop. This puts a time limit on your cleaning, so it doesn’t feel like an endless task.
Create a Welcome Space by Doing Your Dishes & Wiping Surfaces
Doing the dishes before bed is a guaranteed way to feel calmer in those busy mornings – regardless of the size of your kitchen. One tip is to tidy as you cook. Done with that frying pan? Great! Then wash it and put it away. After eating a filling meal, the last thing we want to do is the washing up – so make future you happy by getting a head start on those pesky dishes!
Organise Your Fridge & Freezer
What is it people say? Healthy mind, healthy heart? – something like that anyway, but by implementing this tactic to your kitchen fridge, freezer, and cupboards. Remember to put the items you use the most in easy to reach spaces and dedicate different shelves or areas to specific items which need to be used.
3) Appreciate the Small Things in Life
One of the most important things if you want to feel rich is being grateful for what you already have. Practising gratitude can easily be implemented into our daily routine. A lot of people tend to write down what they’re thankful for in their life – however if you don’t want to commit to this, set a reminder before bedtime to tell yourself three things that you’ve appreciated today and why.
If you’re not convinced – think of it this way: if you earn £500,000 a year but are envious of your friend who earns £1M then you will never feel rich or empowered. Practising gratitude costs nothing, but it will help you to address what is actually important to you in life rather than always wanting more.
4) Empower Yourself Financially
So, this falls into the financial security category – but important to mention, nonetheless. For most of us, money is not infinite and needs to be managed effectively to see us through each month. Although having more money won’t necessarily make us feel more empowered – how we manage it will. Some small steps that can help you to feel more in control over your finances include:
- Checking your balance and statements regularly.
- Creating a realistic budget that you can stick to.
- Starting an emergency/rainy day fund (for more information on how to do this read our guide on building an emergency fund).
- Organise your debts and start a repayment plan if you have any debts you’re putting to the back of your mind.
- Speaking about money openly with your family, friends, or partner.
5) Use Your Time with Intention (e.g. Find a Hobby)
Time is really the most precious thing we have, so the time for Netflix and Naps is over – it’s all about using your time intentionally and with purpose. So, instead of vegging out in bed watching Netflix, look for a new hobby to try (obviously, under current circumstances with the pandemic that’s somewhat limited) but it’s worth investing your time into something that brings you joy.
We can guarantee that spending eight hours watching Netflix will feel a lot different from practising an instrument or going for a hike and when COVID has subsided, why not look into joining a group with similar interests where you can fine-tune your new skills.
6) Upgrade Your Self-Care Routine
Okay, so this is all about investing some time and money in yourself to make the time you have to yourself that little bit special. Also, not sure if you may need reminding – but it is absolutely okay to treat yourself sometimes! Especially after taking care of all the difficult financial aspects of life.
These are some ways to invest some quality into your ‘me time’:
SHOWER: Over the course of a year, we are said to spend on average 60+ hours in the shower! For somewhere where we spend a large amount of our time washing away the day, why not invest in a waterfall showerhead to make your shower go from a solid 5/10 to feeling like a brand new (and relaxed!) person.
TOILET: Invest in quality toilet paper (at least when there aren’t shortages due to COVID). Basic toilet paper certainly gets the job done – but have you tried 4 ply before?! Trust us, you won’t look back. Plus, depending on the size of your household the extra couple of pounds spent on quality won’t blow your budget.
SLEEP: We spend a lot of time in bed – whether you use it for only sleeping or tend to spend the majority of your day in bed, a good quality bedding set will make all the difference. Spending an extra £10-£15 will help you to get the comfort you deserve and can last years if cared for properly.
Adding a Little Luxury will Make all the Difference
There are tonnes of ways you can add a little luxury to your life – especially after this hectic year we’re all experiencing.
The key to feeling rich is to apply a little luxury to the aspects of your life that occur often and avoiding the more materialistic items which are heavily marketed to us – which won’t bring us long term happiness. Find something that works for you and start to feel like a million pounds!