Are you living a simple, but enjoyable life?

Keeping your life simple makes your luxuries all the sweeter.  When your life is crowded, it is next to impossible to really enjoy what you have.

In addition, you appreciate your indulgences so much more when they are fewer and farther between.  The contrast they create makes them stand out.  So, if you want the best life possible, keep it simple.

Keeping Life Simple

For some reason, humans have an amazing tendency to complicate every situation they touch.  We clutter up our lives by always wanting more.  We have been deceived into believing that “more is better” when in fact it is not.  More is draining.  It costs too much to continually want more and I’m not just talking about money.  More stuff costs you time, resources and energy.  Is it all really worth it?  Does it truly make your life more enjoyable?  Is it even possible to truly appreciate it all?

A few years ago, I began a personal economic recovery.  Initially, it was all about money.  I was living above my means and I needed to correct that.  I started by becoming a lot more frugal and cutting many unnecessary things from my life.

What I found was that there are a multitude of benefits to simplicity that lead to getting a lot more enjoyment out of life.  In other words, I found that more is NOT better.  It was quite an eye-opening realization for me.  I’d never really thought much about simplifying.  I always thought the path to happiness was paved with bigger houses, more toys and lots of luxuries.

As a result of my awakening, I continued to simplify and pretty quickly adopted some completely new attitudes about money, spending and possessions.  These drove me to continue down the new path I was on to see where it would lead.

Now, in terms of my finances, I’m debt free except for my house and that alone has tremendously improved the quality of my life.  Overall, I lead a fairly simple existence.  I’m not fanatical about it.  I don’t live an austere life by any means, but I have learned to keep things simple because it is more enjoyable, less stressful and just a better way to live.

Adding Back a Few Luxuries

When my wife and I began correcting how we handled our money, we cut back on just about everything.  We trimmed most of the luxuries out of our budget so we could throw every possible penny at the debt snowball we used to pay off everything we owed.

We were so convinced that our debt was stealing our joy that we were willing to do just about anything to get it paid off.  Now that we’ve accomplished our goal, we’ve decided to lighten up a bit and add back in some luxuries.

We are still trying to keep things fairly simple.  We don’t want to complicate our lives with things that don’t add much value or that we can’t afford (i.e. pay cash for).  We have a whole new appreciation for getting something new and we really do get joy out of the luxuries we are consciously choosing to add back to our lives.

Here are a few of the things we’ve done:

1.  Bought a Newer, Nicer Car

Last year, for the first time in my life, I paid cash for a new car.  Well, it wasn’t really new.  It was just new to us.  But, after driving a couple of cars that were several years old and had some ongoing issues, this newer car is truly a luxury for us.  Of course, it lacks one feature that all our other cars had when they were new – a payment!  I can tell you that it drives even better without lugging around a multi-year loan.  The simplicity of just paying cash for a car is awesome.  I’ll never go back to the old, complicated way of making this purchase.

2.  New TV, Cable and DVR

When we got frugal with our finances, we cut our cable television service back to just the first 25 channels.  It was just enough to get the local stations.  About a year ago, we bought a new flat-screen, LCD television to replace our old clunker.  Along with it, we added back full cable service and a DVR.  I know there are a lot of negatives to watching television, but with the DVR we are able to record and watch what we really like.  Our family has definitely enjoyed this luxury.

3.  Replaced Several Household Items

In the last year, we have bought new privacy fence, a hot water heater, a new dishwasher, a new washer and dryer and a new central air conditioning unit.  I don’t know that all these things are luxuries, but if we weren’t debt-free yet and if we didn’t have cash in hand to make these purchases, then we wouldn’t have bought them.  We would have done without most of them at least for awhile.  These items make our lives more comfortable and simpler.  I’d hate to have to heat up water on the stove just to avoid a cold shower.

4.  Took a Trip or Two

My wife and I love to travel, but it can be expensive.  We cut back quite a bit there for a few years while we were working on our finances, but since then we’ve been able to take a few nice trips.  We don’t go overboard, but we do enjoy the luxury of being able to travel.  Again, we pay cash for these trips so we don’t complicate our lives by charging up credit cards along the way.  This way, when we get back from our travels, our lives are still simple and unburdened.

5.  Thinking of Starting a New Hobby

Now that there’s a little more discretionary money in our budget, I’m thinking of starting a new hobby.  For a long time, I’ve wanted to have a home aquarium.  I think aquariums are so beautiful and the whole thing really intrigues me.  To this point, I’ve just been reading about it and trying to learn what all is involved, but I’ll probably make some purchases pretty soon.  I’ve decided to go with a freshwater aquarium at first because there’s less startup costs and I think it might be a little easier to maintain.  Our simpler lifestyle gives me the freedom to try things like having my own aquarium and that makes me happy.

Simplicity with Luxuries = Great Life

Our simpler, debt-free lifestyle has definitely added quality to my life.  Yes, I love having a few luxuries around, but I’m cautious not to overextend myself financially or otherwise.  I’ve learned that everything you bring into your life comes with some responsibility.  So, I’m embracing two ideas – a simple life is a good life and less is more.

What are your thoughts on this?  Have you tried simplifying your life?  How did it go?  Leave a comment on this article and let me know.  I’d love to hear from you.

Photo: Copyright PhotoXpress.com

For many, money is tighter now than it used to be.  Some have lost jobs or experienced reductions in income due to fewer sales. 

Whatever the specific circumstances, it seems that a lot of people are interested in budgeting and getting out of debt.

I’ve written quite a bit over the last year about living on a budget and paying off debt, but it might not be easy for a new reader to locate the information they need.  Therefore, I’ve created this guide. 

I hope it proves to be a useful resource.

How and why to get started with budgeting

These articles will help you understand the benefits of budgeting and provide resources to start your own budget.

• Now Is A Good Time To Be Living On A Budget – why you should consider starting a budget in the first place.
• 79+ Brilliant Budgeting Resources You’ll Love -  the ultimate guide to personal finance budgeting ever assembled! 
• We Use YNAB For Our Envelope Budgeting System – the things I love about using YNAB as my personal finance software.  Hint: it makes everything so easy!
• 20 Ways To Trim Your Budget And Survive Hard Times Ahead – ideas on how to reduce monthly spending.
• Personal Finance Budgeting Priorities In An Income Crisis – how to set the right priorities when allocating your money when your income has reduced or dried up.

How to successfully live on a budget

Living on a budget is about 10% knowledge and 90% behavior.  Get your thinking right and your budget will naturally fall into place!

• Things I Learned Living on a Budget – Part 1, Part 2, & Part 3 – lessons about money that I learned when I first started budgeting.
• Budget Living- 3 Good Habits That Outlived Their Usefulness? – three essential habits that make living on a budget work.
• Budget Living: How To Stick With Your Personal Spending Plan – three suggestions that will help you stick to your budget no matter what!
• A Rigid Budget Will Die A Quick Death – how to create some flexibility in your budget to make it last.
• How To Avoid Buying Things You Do Not Need! – tactics that will help you keep from spending beyond your budget.

How to become and stay debt-free

There are many advantages to living a debt-free lifestyle.  This is not about doing without!  In fact, it is really about how to have so much more.

• Debt-Free Is The Path To Financial Success – why debt-free living is desirable and some myths about debt are exposed.
• Establish A Personal Finance Emergency Fund – why you need an emergency fund and how to set one up.
• Getting Debt-Free Using The Debt Snowball Technique – how to pay off all your debt using the debt snowball technique as recommended by Dave Ramsey!
• Snowflaking Will Melt Your Debt And More! – introduction to snowflaking as a compliment to the debt snowball technique for paying off debt.
• I’m Saving Up To Pay Cash To Buy A Car – a practical example of how I am living to avoid debt.

What to do once you are on a budget and debt-free

Are you already on a budget and debt-free?  Great!  These articles will help you to take the next step to financial freedom!

• Your Income Is Your Best Tool To Achieve Financial Freedom – how to use your current earnings (no matter what they are) to become financially independent.
• 8 Tips For Investing Money To Build Wealth – how to start investing your money and make it work for you.
• How Much Money You Have Defines Your Life – why money is so important to living life to the fullest!

Most of what I’ve learned about personal finance came from spending time with the fantastic books in my reading list.  I offer them up for your enjoyment.  I hope this information proves as useful to you as it has to me!

Photo by greggoconnell

A lot of people that are truly successful with money live a debt-free lifestyle.  If they do borrow money, they pay off the debt early to lower risk and avoid paying interest.  In order to become more financially successful, let’s set a goal to become debt-free.

This may seem like a very audacious goal, but it is achievable and in probably less time than you think.  I know because my wife and I paid off all our debt except our mortgage earlier this year.  So, I can personally testify that this is possible for the average person to become debt-free.

The advantages of debt-free living.

There are numerous advantages to living a debt-free lifestyle.  Before you commit yourself to any goal, it is important that you understand why it is necessary.  Therefore, I want to highlight a few reasons that you should firmly decide right now to pay off all your debt.

1.  Being debt-free lowers financial stress.

Do you feel nervous about your financial position?  Do you start sweating profusely or have to down antacids by the handful every month when the bills arrive?  If so, then you are a prime candidate for considering a debt-free lifestyle.  Is it all really worth it?  Wouldn’t it be better to hunker down, pay off your debt, and eliminate the source of your stress?  Why live this way?

I can tell you that living without debt is a lot better way to live.  It ends the emotional roller coaster which alone significantly increases one’s quality of life.

2.  Being debt-free lowers your financial risk.

Debt is risky because you commit to paying it back on time or agree to suffer some prearranged consequences.  The consequences may include things like paying penalties, incurring higher interest rates, and/or forfeiting your collateral.  If you pay cash up front for purchases, you totally eliminate this financial risk.

With debt you have a greater potential downside if you lose your job, suffer a personal disaster, or encounter a serious health issue.  Why take the risk?

3.  Being debt-free opens up your options.

Debt is a trap that limits your choices.  You are tied to paying it off one way or another.  It becomes a ball and chain that robs you of your freedom.  Once you have a pile of debt, then you have to keep your nose to the grind stone because you lack financial margin.  One little trip up and your whole house of cards is going to come tumbling down.  It doesn’t have to be this way.

Becoming debt-free gives you back control of your life.  It gets the creditors off your back and allows you to make the decisions again.

Debt myths revealed and lies exposed.

There are numerous falsehoods that exist and are perpetrated by institutions that make a profit by charging consumers interest on loans.  It is important that we first recognize and debunk these myths before we can embrace a debt-free lifestyle.

1.  Debt is not the path to a better life.

Banks and financial institutions have done a fantastic job of selling us on the idea that credit cards, home equity lines of credit and car loans give us financial power.  This is simply not true.  What this debt does is line their pockets with profits.  We’ve all enjoyed the “priceless” MasterCard commercials, but it is time to realize that true financial freedom comes from being debt-free not charging items we cannot afford!

Do you want to continue taking financial advice from people that need the government to bailout their businesses because they’re broke?  Not me!

2.  Debt is not a tool.

Okay, debt is a tool.  It is a tool to make bankers rich, but it is not a tool to make you rich (unless you are a banker)!  I think the financial industry has recently proven that you cannot borrow money from one place, invest it in another and make it work for the long-term.  It is just too risky.  This will get you in a bind and fast. 

Just take a look at all the people that took out adjustable-rate or balloon mortgages.  They borrowed money, invested it in a house they couldn’t afford and bet that they could refinance it before the day of reckoning.  It was a gamble and they lost.  This is not the way to win with money.

3.  Debt is not inevitable.

Many of us were raised to believe that the way to get what you want was by using debt.  We saw our parents buy things on credit cards and other consumer loans.  We grew up thinking that a car payment was just a way of life.  We were trained for instant gratification.  When you want something, just whip out the plastic and get it.  Of course, this has caught up with many of us over the years. 

It is time to realize that debt is not inevitable.  It is possible to live without it.  We can do what our grandparents or great grandparents did.  We can wait until we have the money before we buy things.  I know it is a radical idea, but one whose time has come.

4.  Debt-free does not mean fun-free.

I think that some people believe that the only way to enjoy life is by living beyond their means.  Have you ever listened to Dave Ramsey’s radio show?  Do the people that call in seeking his advice because they are drowning in debt sound like they are having fun?  No!  It is just the opposite.  I never get enough of hearing the calls where people are calling in to celebrate their freedom from debt!  You can hear the joy and relief in their voices. 

Becoming debt-free opens up your life to happiness and prosperity like you’ve never experienced!  When was the last time that you were debt-free?  Were you happier then?

Get on the right path to financial freedom!

Nugget of financial wisdom: True financial freedom begins when you become debt-free and start living within your means.

You really need to grasp the truth above if you want to win with money.  Over the next several days, I will lead you through the steps to achieving financial freedom from debt.  However, unless you embrace the ideas I have written about here as the absolute truth, then it is very unlikely that you will succeed with money.  Ninety percent of what determines your financial success lies in your attitude toward money.  Once you acknowledge this basic financial principle, then you are well on your way to financial freedom!

What are your thoughts about debt and becoming debt-free?  I’d love to hear from you.  Please leave a comment below with your opinion.

Photo by danesparza

The first cornerstone of financial wisdom is personal responsibility.  You have to take charge of your money and get things under control!  No one else will do it for you.

I believe this with every fiber of my being.  I also believe that this is the ultimate solution to the problems we are having in our economy.  The quicker that individuals wake up and start applying sound financial principles in their lives, the sooner things will improve.

Do you need financial wisdom right about now?

With things tightening up in the economy, I think more people than ever are looking for some tried and true advice for succeeding with money.  Are you one of the people that needs financial wisdom?  Ask yourself these questions:

• Are you sick and tired of never getting ahead financially?
• Are you broke despite earning good money? 
• Are you constantly running out of money before the end of the month?
• Are you afraid you might lose it all from what’s going on in the economy? 
• Are you up to your eyeballs in credit card debt?
• Are you worried about losing your job because you live paycheck-to-paycheck?

If you answered yes to any of the questions above, then you are ready to get back to the basics when it comes to money. 

Need sound financial advice?  Stay tuned!

Over the next several articles, I am going to write about basic financial wisdom.  The advice I will share is in no way a get rich quick scheme.  In fact, getting rich is not the point.  Instead, I want to start at square one because I think that’s where many Americans are at.  I am going to write about topics such as:

• Debt-free living – yes it is possible and no it doesn’t hurt!
• Controlling your money with a budget – this is where freedom begins!
• Frugal up! – finding places to cut back to move ahead!
• Creating an emergency fund – it feels good to have money in the bank!
• Getting out of debt – pay off all those bills!
• Planning for the unthinkable – get your affairs in order before something happens!
• Creating a nice little nest egg – live with dignity when you retire!

I promise to address each of these topics in a down-to-earth, old-fashion way.  I will keep it straight-forward and easy.  I didn’t think this stuff up myself, but I know it works because I have used it to manage my own finances for several years now.  I will also point to others that give the same advice just so you know you can trust what I am saying.

Don’t miss any of these financial wisdom articles!

As always, all of my articles here at MySuperChargedLife.com are 100% free with no strings attached! 

Here is my first nugget of financial wisdom to share with you – Do not pay for things that you can get for free!

Simple enough?  I thought so.  However, there are a ton of people everyday that pay large sums of money to get this same advice. 

I guess they perceive they are getting something better or more trustworthy because they are paying for it.  However, I have found the truth to be just the opposite.  I have found that the best advice is usually free.

Therefore, I encourage you to sign-up today to receive my articles absolutely free.   You can get them via your favorite RSS reader or in your e-mail inbox.  This will ensure that you never miss an article!

Please share this with others so they can learn to take responsibility for their finances! 

Leave me a comment and let me know if there are specific topics you would like me to write about.

Photo by Rob Lee