Are you feeling the annual financial pinch after the holidays and wondering if you’ll ever experience January without it? You might be tempted to cease all spending and set severe restrictions on your enjoyment for the next few months.
But before you do that, consider a mindset shift. Rather than following a path of scarcity and deprivation, try embracing these ideas for living well while spending less.
Abundance is often equated with material wealth. Yet true abundance isn’t about how much you spend but how much joy, contentment, and meaning you derive from life. With a few simple shifts in mindset and habits, you can live abundantly while spending less.
We put together this 2-part series on how to Live Well while Spending Less, and here are the first 6 tips:
1. Redefine Abundance
The first tip is to understand what an Abundant lifestyle means for you, and upgrade your mindset around it.
Abundance starts with gratitude. Take time to appreciate what you already have—your health, relationships, and daily comforts. By focusing on these, you shift your perspective from scarcity to sufficiency. A great way to do this is to journal each day 3-5 things for which you’re grateful. Another way is to keep a small token – a stone or coin – in your pocket, which always reminds you to stay in gratitude for all that you have.
It also helps to have purpose. Whether that’s your family, your career, or serving others, having purpose – or a mission, if you will – helps foster a sense of satisfaction and fulfillment.
2. Prioritize Experiences Over Things
Material possessions lose their novelty, but experiences enrich your life and create lasting memories. Opt for activities like hiking, visiting a local museum, or hosting a potluck with friends instead of buying the latest gadgets or clothes. Going for a walk with a friend has the added benefit of improving your mental, physical and emotional health.
3. Embrace Minimalism
Living with less can lead to greater freedom and clarity. Declutter your home and keep only what serves a purpose or brings joy. Not only will this save money, but it also reduces stress and fosters a sense of simplicity. You can sell unwanted items (on Facebook Marketplace or another platform) and use the money to pay down debt. Having less clutter also frees up mental capacity and simplifies decision-making.
4. Cultivate a DIY Mentality
Learn to do things yourself, from cooking meals at home to repairing household items. DIY not only saves money but also provides a sense of accomplishment and aids in skill-building. You could even turn these skills into additional cash by charging a fee to provide these same services to friends, neighbors, colleagues or clients.
5. Seek Out Free and Low-Cost Opportunities
Salina offers lots of free or low-cost activities. Next time you’re feeling sad about not being able to afford to go out, get creative instead. Host a movie-themed party where you select the movie and everyone brings an on-theme dish. Or have friends meet you at a local park for a game of wiffle ball or frisbee golf.
Check out this list we compiled of free or low-cost activities, and explore these opportunities to enrich your life without spending a fortune.
6. Practice Mindful Spending
No matter your age, the human mind can sometimes behave like a toddler. The minute you try to deprive yourself, like putting yourself on a tight budget, is the same minute your inner child says, “But I want it!”. 😆 Before you set aside your best intentions and make an impulse buy, ask yourself, “Do I really need this? Will it add value to my life?” And most importantly, “Will my future self thank me for buying this?”
Delaying gratification often leads to more intentional spending, which ends up contributing over time to a feeling of “living well”.
Living an abundant life doesn’t require a big bank account. It’s about making intentional choices, finding joy in simple pleasures, and nurturing what truly matters. By spending less and focusing on life’s riches—health, relationships, and experiences—you can create a life that feels genuinely abundant.
Click here for Part 2 in our series on Living Well while Spending Less.
