Simple Living: What does it mean?
The definition of simple - Easily understood or done, presenting no difficulty. So simple living should not mean give up all your belongings and technology. There are plenty of apps to help you keep life simple and why should you not be able to enjoy some of life’s materialistic toys. The reason life is not simple most of the time is because we make it difficult on ourselves take on a ton of debt and have no budget or financial knowledge, we do not discipline or children or teach them life lessons, we do not know our partners love language, we just try and get through our day job by doing the minimum. Without the proper knowledge on areas in our life it will never be simple, because to be simple we must have a good understanding on what we need to do. It starts with knowledge.
Keeping life simple in a financial manner is easy. You do not have to sell everything and live on a type of budget. Follow these rules for financial simplicity in life.
I use an app called Isavemoney. This is an app that makes you manual input each transaction, like an old school check book. In your budget you should account a section for a 10% minimum of your income to be put up. A good percentage of wages spent are 70% living expenses, 10% savings/investment, 20% any debt until debt free, and then investment. The less you spend on living expenses and getting out of debt the more you can invest and put to work.
The 10% you are putting up, make work for you. This is the definition of passive income and compound interest. This should be your focus but keep it simple, do not overcomplicate your investments. Also do not gamble, make wise decisions, and do not put your money in risky situations. See (Investing money for beginners)
3. Pay off debt
Pay off your debt as quickly as possible. Debt is not your friend; it is your enemy. You are usually paying interest on it as the Bible says the borrower is a slave to the lender. Pay off your debt owe no man anything. This is going to help you increase your net worth rapidly.
4. Buy The Place you want to retire.
Buy your own home, grow produce and be as productive as possible. Owning your own home is an effective way to build, wealth as you are not paying a property owner. You are putting money towards your own housing. Pay it off as quickly as possible and this will help you live and retire without a housing payment. Make your house productive as meaning be as self-sufficient out of it as you can.
5. Track your Net-worth.
Your Net-worth is your assets minus liabilities. Take the total of everything you own minus what you owe. There are plenty of apps for this. I personally use personal capital. It is my favorite out of all the ones I have tried. Make sure your NetWorth is increasing.
Keeping life simple with your relationships is easy as well. The key is to understand each other, know each other's love languages, temper, how they respond to certain things. This applies even to children. Remember the definition of simple is understanding/knowledge, like G.I. Joe moto knowing is half the battle, doing what you know is the other half, just know what you are doing. If you do not know someone's love language and it is the direct opposite of you, you may wonder why they do not understand your love for them or feel unloved. The 5 love languages is a book from Gary Chapman. You have Words of affirmation, Quality time, Receiving gifts, Acts of service, and Physical touch. If you do not know already talk to your partner and find out which one, they are. Then put it into action.
To me living a simple life is about sticking to the basics, having every area in life studied out in a simple manner so you understand what you are doing. Stop overthinking and overcomplicating life, it really is simple.
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