The benefits of putting yourself on a money diet

In this ever changing world it’s getting harder and harder to stay out of debt and very likely that we’ll be hooked by consumerism for the foreseeable future. But there is a way out and it starts with something very simple. Putting yourself on a money diet.

Money dieting is, in its simplest form, living intentionally in an aim to become financially independent. Think of your regular diet to lose weight or get fit. You restrict calories, eat healthier food, exercise and stop eating and drinking junk. Keep that in mind as we delve into what the money diet is.

You make sure you’re having a sensible portion of that pasta dish or apple pie. Think of money that way. You meet your friends on a trip to the bar and you have a few drinks instead of drinking lots. You eat a slice of pie instead of stuffing your face with the entire thing like a pie eating contest. That’s the simplest thing but often the most difficult for people to implement. Spending frivolously then looking at your bank balance and realising that there’s too much month left at the end of the money. The trick is to realise when you are about to purchase something unnecessary or something far to expensive that you could get a lot cheaper another time and take a minute and ask yourself this question: will this really add any value to my life?

Instead of apple pie, why not try some fruit? Let’s say your out at the mall and you’re looking for some new shoes that you need. Sure the new Air Jordan’s look amazing, but is that a wise choice? Sure McDonald’s looks appetising but what about those last few pounds you need to lose? Try and find some great shoes for a lot less. They do exist! Advertisers live to keep us consuming. They appeal to our subconscious mind and make us REALLY WANT the things they sell even though they add no value to our lives. If you can get to a place where you can say “I KNOW I don’t need this expensive thing, all I need is something practical” then you will have won most of the battle against over spending.

If you know how good a regular diet is for your body then you should by now know that money dieting is equally good for your bank balance. But, as someone with first hand experience, it is also good for the mind. There are arrays of psychological benefits to this way of life. Lots of people call it ‘Living Intentionally’. Living intentionally is making sure you are only using your money to purchase things that are required for you to live and things that really do bring a lot of value to your life. Many people who live in the world of ‘Minimalism’ say that after all the hard work of spending a lot less and making sure they live intentionally they begin to feel a lot happier. Happier in themselves. Not constantly happy, that’s called manic and is an illness, but truly content and free.

Is the money diet for everyone? I hear you ask. YES. It certainly is. It’s easy to see the benefits from doing this for people with very little money indeed but it’s also beneficial for people living in quite ‘normal’ lives with an ordinary job and car ETC. In fact it may benefit those in the middle ground more to learn that accumulating things and credit card debt isn’t the only way to live.

I urge you to try this for one month, fortnight or week – however long the duration is between your pay checks – and see how much money you have left before you receive your next pay check. Try it out, you just might find the freedom you are looking for.