Tag Archives: modest income

10 Ideas For Living a Satisfying Life on a Modest Budget

A modest budget doesn’t mean you can’t live a full and happy life, engaging in all of the activities you enjoy. The problem is that people have become to dependent on money for life satisfaction. It’s been said many times over that money doesn’t equate happiness. If you are making a modest income but you can easily pay your bills and still have a tidy amount of funds left over, there’s nothing wrong with this lifestyle. You can even save a little every month–that’s the wise thing to do. In fact, when you live on a modest budget in Canada (or anywhere) you need to have several expenditure and savings accounts, those like:

  • Emergency savings
  • Vacation savings
  • Holiday savings
  • Everyday expense account
  • Personal savings

This might seem like a lot of accounts to handle and manage, but it’s easily organized. When you live on a specific budget it is even more important to have something such as this established. In fact, this type of living style will help you feel more in control of your finances. We want to share 10 tips on how you can also live on a modest income and still engage in activities you really want to be involved in. Let’s get started.

You Can Enjoy Life on a Modest Budget

Below you’ll find many ways you can enjoy time with the family, or if you’re single, just doing those things that you enjoy doing. Money isn’t an obstacle when you practice the right kind of financial habits! While entertainment can be expensive in Canada (as can dining out) there are strategies to still be a part of that grand life!

  1. When you want to go on vacation but are worried about what you can and can’t afford, how about looking up that college buddy you chat with online? It’s probably been awhile since you visited, so connecting with old friends like this just might gain you free vacation lodging and maybe even some money savings on food too! It’s not taking advantage either, so don’t feel like you’re just being a burden. Just once a year or so is perfectly acceptable. 
  2. Have you ever considered a staycation? It is very likely there are multiple charms in your very own area that you’ve never visited. A staycation allows you to take a rest and enjoy the local arts and crafts in your city. You can choose to do what you want. Some stay in an isolated cabin just to rest and recuperate from the past years stresses. You’re proactive and decide what you’ll enjoy the most, but better yet, you don’t have to spend anything. 
  3. Fine dining doesn’t have to be expensive. You don’t have to think you can never enjoy the higher end restaurants! Go during lunch hour or happy hour and you’ll spend the same amount as you would at a modern middle class joint. Don’t you think you should enjoy the finer things too?
  4. A  movie out costs more than ever today, especially if you’re a family of four. But, the matinee is far cheaper than after 5! Also, some theaters offer concession discounts one day out of the week. 
  5. Instead of signing up for an expensive gym membership, consider starting an exercise routine outdoors. It is totally free and spring is the perfect time to refresh the mind and body!
  6. If you spend a great deal commuting to work, consider bicycling if it is within a 5 to 7 mile radius. You’ll not only save on gas but you’ll get in shape at the same time.
  7. You can sport the latest hair trend without paying a lot! Beauty schools often offer hair cuts, color and style fairly cheap, but you still end up with amazing results. 
  8. If you want to obtain more affordable housing in a nice area then you have to be willing to relocate. A little bit of investigating and word of mouth can help many find a home of their dreams at an extremely affordable value.  
  9. Clothes can be expensive, but everyone wants to look nice. A clothes swap is a great way to freshen your wardrobe and someone else’s at the same time. You can have a whole weeks worth of incredible clothing without paying a penny. 
  10. If you’re looking to fly somewhere on a getaway, take the redeye! It’s cheaper, less crowded and to most, far more convenient. 

These little tips and tricks can help everyday Canadians enjoy a modest life with the same privileges as most anyone else, but most importantly, with supreme satisfaction.