There is so many words that can describe situation when a person spending reluctantly. But sometimes, to achieve financial success it necessary if you try to downsizing.
What actually is downsizing?
In my perspective of view. it means either thinking about to cut cost, minimize the expenditure to survive in the future.
Downsizing and substituting means replacing your current properties or lifestyle to a “cheaper” version.
Examples are:
• Your monthly fixed expenditure
If your currently monthly home installment is too expensive, switching to a cheaper home is more practical.
• Your vehicle
If you have two cars, why not sell off one of it or to switch to two modest and affordable vehicles.
• Your lifestyle
No more Starbuck, TGI Fridays or Chillis , watch movies every weekends at cinema or branded stuff. This should save more money over the long term. Do not splurge immediately on expensive equipment but slowly build up your money first to acquire them one by one.
Downsizing and substitution makes it less painful to manage your money. This is preferable to eliminating expenses where you sacrifice and give up something. Rather than total elimination, you find a cheaper alternative that is more budget friendly. Do you think downsizing and substitution would work for you?
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