Most of us want to achieve richness in life, but “rich” is a very relative term. For the 1%, it may mean being able to buy anything and everything at all times. However, for most people, richness simply equates to having the luxury of not compromising their standards.
It’s not about pretending you have more than you have or buying things you can’t truly afford. Instead, this article will help you learn how to take an average income and still live with quality. Look at these three steps to living with richness:
Step One: Cease and assess your assets. Stop spending money. Yes, this may sound counterproductive to getting what you want, but in order to get there, you first need to do a complete evaluation of everything you own without adding anything to the mix. If it’s not a necessity, then don’t buy it.
Catalog your possessions room by room, item by item. Account for everything. With each item, you’ll ask yourself:
• Is this something I like and want?
• Is this something I need?
• Is it useful and do I actually use it?
• Does it add tangible or sentimental value to my life?
• Am I proud to own this item?
If the answer is a universal ‘no,’ then mark and catalog the item to be sold off. If you have a mixed yes and no for an item, then remove and catalog the item to be temporarily stored until you have a clear answer on its place in your home. The goal is to only keep what you love, use, and value. This process may take you a couple days, weeks, or even months to complete.
Step Two: Learn how to value quality or quantity. Countless people make the mistake of thinking that having more, more, more is a symbol of success, riches, happiness, etc. Eventually, they find themselves broke and surrounded by a lot of subpar possessions that they don’t use nor like. Suddenly, they’re stuck with having to relocate this stuff during moves, spending hours cleaning it, and not having funds or space for something they really do want.
Minimalist living adopts the attitude that less quantity equates to more quality. Think about how far reaching such a simple premise can be for you. You’re living a greener lifestyle. You’re not throwing your money away on costly items that are built poorly, serve little function, and are likely to wear and tear before you’ve even recovered from the expense. And, you’ll have the liquid funds to buy the things that do add value to your life when you need them.
Studies have shown that the average person only regularly wears 20% of their wardrobe. Now, think about the money you’d save if you don’t buy that 80% that’s ill-fitting, highly dated, poor quality, or that you really didn’t like when purchased.
Step Three: Define and seek your own quality on a budget. You’ve cleaned house on the undesirables. You’ve decided that quality surpasses quantity. Now, it’s time to define what quality items you need in your life.
A good place to start is by making a specific list of the top 10 things that will add long-term value to your life. Pick one item at a time to work toward purchasing.
Keep quality over quantity at the front of all your new purchases. You’ve heard the saying that only millionaires can afford to buy cheap stuff? It’s true.
Let’s say your top item is a new home office desk. You could go out and buy a desk where you screw together some particle board. You’ll likely be ashamed of its poor state soon and replace the item multiple times over the next few years. It’s added zero quality to your life.
On the other hand, the new you could take the time to search out a piece of quality-constructed furniture that will likely outlive you and be an asset to leave to future generations. It may take some saving, planning, and research, but the end result is something that adds long-term quality vs an endless cycle of costly replacements and revamping. Plus, you’re likely to have paid less for that one quality piece of furniture than you would to continually replace cheaper options.
How To Look As Rich As You Feel
Once you’ve adjusted your lifestyle with the above three steps, you can focus on how to portray yourself as the rich person you’ve become.
Of course, wardrobe is a biggie for most people. However, having the latest LV on your arm and having an Armani hanging by your desk isn’t what makes you look rich. A glimpse at some of the folks on reality shows proves that. Portraying richness is all about style, attitude, and how you carry yourself. Here are some tips:
Tip One: Go for fashion that’s personalized classy.
Keep your wardrobe versatile and timeless with classy staples that you can build off of with some personalized choices that reflect your individual style. By keeping the staples classic vs trendy, you’re ensuring the fashion life of your wardrobe is long-lasting and everything remains useful items you can be proud to wear indefinitely.
Tip Two: One man’s trash is another man’s treasure.
Don’t assume that quality only comes at a designer label price tag. Second hand, consignment, and factory outlet stores are full of treasures that may have simply not been the right look, fit, color, size, or fabric for its original owner or buyer pool. But, that doesn’t mean they aren’t perfect for your style and body.
Did you know that many expensive retailers use the exact same manufacturer and/or suppliers as the lower cost retailers? Yep, often that $500 blouse came from the same crop as the $50 one down the road. So, don’t look at name brand, price, or retailer. Instead, look at what a product is made from, the quality of the design and manufacturing, and how it works with your own body.
Tip Three: Carry yourself with class and proper etiquette.
It doesn’t matter how monetarily rich you become, class is something money will never afford some people. Again, a quick look at reality television stars flipping restaurant tables with $5,000 handbags underneath and pluralizing “I” proves this point. That said, those born of generations upon generations of wealth usually have one thing in common – etiquette. In order to look as rich as you feel, you must carry yourself with dignity, manners, grace, intelligence, and a positive attitude.
In closing, you can see that quality of life has nothing to do with the zeros in your paycheck or the need to keep up with Kardashians. All it takes to look rich on a budget is refocusing on a minimalist lifestyle, valuing quality or quantity, and acting as rich as you feel.