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If youre willing to live on an extremebudget, many seemingly impossible options open up to you.
You could work part-time, setting your own hours, perhaps working remotely.
Or you could work full-time in your dream career.Or you could reach millionaire status within a few short years.
But those more obvious benefits form just the tip of the proverbial iceberg.
But he added that it just isnt as hard as most people assume.
Brian Meiggs, founder ofMeiggsMedia, has lived the extreme frugality lifestyle.
Living on a limited budget teaches you invaluable lessons about financial discipline, prioritization and creativity.
What are some of those invaluable lessons?
Your budget can look more like a leaky sieve than a watertight bucket.
Resourcefulness and Self-Sufficiency
Meiggs continued, Living on a tight budget encourages a mindset of resourcefulness.
You learn to make the most of what you have, finding affordable alternatives for your needs.
Pick one thing to not completely get rid of or, at least, compromise on.
Think of it asone little luxury.
Typically, the extreme budget lasts until a goal is met.
Be extremely clear on what the goal is and what success will look like.
In the end, old habits die hard, Luetters said.
But the same holds true on the other side of extreme budgeting.
The habits formed during your frugal budgeting days dont necessarily go away.
They stay intact over time.
Its a product of going through the experience that changes a person or a couple.
Old habits die hard, and I rarely splurge on anything Im the Warren Buffet of tech.
I dont live in a mansion and driveonly one car.
Its served me well, and if it aint broke, dont fix it.
She added, The riches of life are from living simply.
I later discovered it was armored, as kidnapping risk was high.
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