Time have changed. We can no longer spend carelessly, but we must live more simple, frugal lives.
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Inflation is high, tech is replacing jobs, and the cost of living is getting higher. In order to survive in this changing world, we must learn to change and adapt. In this video, I talk about 5 things we must accept as our reality and how to adapt to this increasing high cost of living world.
1. Things We Used To Do Frequently Are No Longer Affordable
Eating out, getting regular coffees, and spending more on other activities used to be afford things to do frequently. For example, going through the drive thru multiple times a week was affordable when there was a dollar menu; however, these activities are no longer affordable to do often and can destroy our budgets. In order to survive in this new world, we must adjust our habits and only do these activities on occasion.
2. Jobs Are No Longer Dependable
There was a period of time where people would work for one single company their entire lives. And because of that, they didn't necessarily have to focus on their personal finances as much. Those times, however, are over and jobs are not as dependable as they used to be. We cannot depend on a paycheck constantly coming in and we have to make sure that we are always prepared financially. We must adapt to this more uncertain world and make sure we create an emergency fund, live below our means, and prepare for the future.
3. Abundance Is Inflating Our Cost Of Living
In the United States, we have been on this quest of abundance for a while now where we are constantly seeking more and bigger. This lifestyle, however, is making our lives more difficult because we have more responsibilities, more debt, and more stress. Living this life of abundance is inflating our cost of living. We must adjust our lifestyle an seek a more frugal, simple life of less financial worries.
4. Time Are More Expensive Because We Have More Options
Although the price of things is increasing, the amount of services we take on has also been increasing. The average American spends $273 a month of subscription services and this number continues to rise, which is creating a unnecessarily high cost of living. It is important to not get every subscription service and adopt a more minimalist approach to services where you are intentional about the services you use.
5. Nobody Will Make Things The Way They Used To Be
The price of everything is going up and although it is nice to think someone can come in and make things the way they used to, that is unrealistic. The cost of living is going to continue to increase and we must accept that reality and change with the times. Now more than ever, it is vital to live a more frugal, simple life in order to survive the increasingly high cost of living.
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