In the old days, you used to impress people by having “more” – a bigger house, nicer cars, fancy clothes, and so on and so forth. Thankfully that trend is now changing. It’s moving from “bigger is better” to “less is more.” Living below your means is the new flex. So why is that a good thing, and how can you do it for yourself?

Flex for the Climate

If we’re ever going to successfully fight climate change, we as consumers needs to change our consumption habits. It can’t be about driving the Hummer that gets 2 miles per gallon, or the McMansion that uses 17 times more energy than it needs, or whatever else.

The thing is, unless it becomes desirable to do so, most people aren’t willing to sacrifice their “things.” It’s human nature: we won’t voluntarily give something up unless we get something in return. If that something is social capital – you know, looking good to the people who matter to you – that works.

That’s where we’re getting to now. It’s almost a form of showing off to be able to say “Check me out, I have so much money, I spend way less than I earn.” Now that’s pretty sad if that’s your reasoning for living a minimalist lifestyle, but hey… I guess, as Machiavelli once said, the ends justify the means.

Flex for Your Relationships

According to a post from MarketWatch, fighting about money may be the number one predictor of divorce. Even if it doesn’t go that far, it just goes to show the effects that money worries can have on a relationship.

If this sounds like it describes your situation, as yourself: what if money were no longer a concern in my relationship? How much stronger would they be? By removing money as a stressor, it frees you up to work on – or just enjoy – other areas of your relationship.

Happiness is Living Below Your Means

To really make the shift toward living below your means in a sustainable way, it can’t actually be about flexing to your friends. It needs to be about the intrinsic satisfaction that you get from the journey. Maybe that satisfaction comes from knowing that, the less you spend, the more you’re saving for your future self. Maybe it comes from feeling good that, by living below your means, you’re helping to reduce your carbon footprint and do right by the planet.

Whatever it is, it has to be about how you feel about your own choices, not what others think of you. So what are some ways you can spend less and save more?

Stop Driving the Latest Car

I’ll never understand people who constantly upgrade to the latest model of whatever it is they drive every year. If Warren Buffet can drive the same vehicle for 20 years in a row, so can you. You’ll save yourself a ton of money in lease and interest payments, all without impacting your ability to get from Point A to Point B.

Now, if you’re a car person and get joy from owning and maintain an expensive vehicle, that’s your thing. Again, that’s not about what others think – it’s about where you find joy. In that case, read on for some other areas you can live below your means!

Stop Giving in to Peer Pressure

I can’t tell you how many times I spent way, way more at the bar than I should have when I was younger. And so much of it was because I felt pressure to keep up with friends and acquaintances. I wanted to fit in, so I bought another overpriced drink, and then another.

Then, at some point, I learned the four most powerful words when it came to ending peer pressure: I can’t afford it. It wasn’t even a lie… I couldn’t afford to keep living the way that I was. But it was insane how much of a shift I saw from people around me when I started using that phrase instead of just trying to say “no.”

In peoples’ minds, it was no longer about being Buzz Killington; it was a money thing, and that changed everything. I’d still go out with friends and coworkers; but it was always on my terms. When I said no because of money, nobody pushed or questioned it. It was the most liberating thing I the world, and I learned from that moment forward the power of just saying “I can’t afford it.”

Cancel Memberships You Don’t Use

Do you really need 5 different streaming services? How about that gym membership you signed up for last New Year’s and haven’t used since?

By cancelling some of these services, you can put more money back in your pocket each year, all while not even noticing any changes to your quality of life. Easy win.

Pick up a Side Hustle

The pandemic brought a lot of headache – it still does, thanks so soaring inflation. But I also saw a record number of my friends and colleagues start side hustles during this timeframe. See, spending less is one way to live below your means… but so is earning more and putting all that extra money away.

Whether it’s copywriting, running a paid blog, creating and selling art, or professional speaking gigs, there are tons of ways to make money off of skills and hobbies that you already enjoy doing. A quick Google search will give you a world of inspiration!

Wrapping it Up

I’m so glad the view of frugality is shifting. Living below your means deserves to be viewed as a boss move, and living this way arguably matters more now than it ever has. So what are you waiting for? Ditch the Gucci shoes and McMansion house with 17 bedrooms and upgrade to a tiny house and a pair of Allbirds.