November is celebrated as a time of gratitude—a period to reflect on what we have before the focus shifts toward getting or giving what everyone wants. However, being thankful throughout the year not only improves our well-being, it benefits us financially.
When you first move away from home, resist the urge to have everything your parents provided while you were growing up. It took them time to save up for things like a nice home, washing machine & dryer, and top-tier appliances. Enjoy the struggle of simpler days instead of immediately putting yourself in debt.
As you become more established in life, be satisfied with what you have. This will help you guard against the temptation to buy what you don’t need or can’t afford. Yes, your neighbor’s shiny new SUV may have Wi-Fi and drop-down video monitors, but try to keep in mind that your car still gets your family where it needs to go. Don’t confuse luxury with necessity.
Appreciating the cash you do have will help you spend less & save more. When you understand the value of a dollar, you won’t be as likely to decimate your savings to get possessions that don’t really matter. This grateful mentality also demonstrates the importance of having funds for the future. It will inspire you to make wise investments & increase your monetary stability.
Eating out every day can take a big bite out of your budget. Buying groceries and cooking at home is a great way to save, especially during the holiday season. And before you go shopping, take inventory of what’s in your pantry. Use what you already have if possible—get creative.
America’s middle class is quite wealthy compared to other parts of the world. Most of us have roofs over our heads, clothes to wear, clean drinking water and, if you’re reading this article, internet access. Keeping this perspective will give you peace of mind when rough financial times come. Plus, you’ll be more likely to give to charity which, as mentioned here, can be both fulfilling and have positive economic returns.
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