Transform your life and wallet with these lifestyle habits

With the constant stream of advice on saving money, it is easy to focus on budgeting and smart shopping. However, there’s another area that often goes unnoticed but can lead to significant savings—our daily lifestyle choices. Adopting positive lifestyle habits not only boosts our overall well-being but also helps us save money in different ways. Here are some habits that we can incorporate in our life:

 

Digital detox

Technology dominates our lives. From smartphones to laptops, we’re always connected. While convenient, this 24×7 connectivity comes with financial and mental costs. Going on a digital detox, i.e. taking some time away from our devices on a regular basis, can be incredibly beneficial:

• Social media platforms are filled with advertisements and nudges that tempt us to make purchases at the click of a button. It is convenient to browse through marketplaces, compare products, and buy on online shopping websites, from the comfort of our homes or on the go. This leads to impulsive purchases and overspending. By limiting our screen time, we cut down on these temptations, leading to fewer unnecessary expenses.
• Reducing screen time also means lower electricity consumption. Turning off devices when not in use can result in savings on utility bills too.
• Taking a break from gadgets, social media, emails, etc., reduces stress and anxiety, which leads to more focus and greater productivity. This is good for students, professionals, and individuals from all walks of life.

Mindfulness

Mindfulness is the ability to be fully present, aware of where we are and what we’re doing. By incorporating mindfulness in our spending, we can save money:  

• We can avoid falling into the debt trap when we are careful with our spending. This means paying less in interest and fees over time.
• Mindful spending means investing in high-quality items that last longer rather than frequently replacing cheaper, low-quality goods. This reduces long-term expenses.
• When mindful, we are conscious that our purchases align with our values and find greater satisfaction and happiness in our purchases, reducing the need for retail therapy and the accompanying expenses.

Regular exercise

Regular exercise leads to physical and mental well-being, which also benefits our finances.

• Regular exercise helps prevent chronic diseases such as diabetes, heart disease, and obesity. It translates to fewer doctor visits and lower healthcare costs.
• A healthy body fosters a healthy mind which can lead to greater productivity, better performance at work, and better decision-making. It can also result in career advancement, higher income, better personal financial planning, etc.

Meal planning and cooking

Many of us frequently dine out or order meals via food delivery services. User-friendly apps, tech-enabled networks and enticing offers make it tempting to order food from outside. While it is convenient, it comes at a price. It puts stress on our finances and our health as restaurant meals are expensive compared to home-cooked food and may not always be healthy. In contrast, meal planning and cooking at home is a wise lifestyle choice that pays off in the long term:

• Preparing meals at home is less expensive than dining out or takeaways in the long run. By planning your meals and buying groceries in bulk, you can save a considerable amount of money.
• When you cook at home, you have control over the ingredients. You can make healthier choices, which improves your well-being but also saves on medical bills
• Planning meals and grocery shopping enables us to buy what we need, reducing food wastage and saving money.

“We are what we repeatedly do. Excellence, then, is not an act, but a habit.”

– Aristotle

Incorporating good lifestyle habits doesn’t just lead to a healthier and happier life. It can also be a strategic way to save money. You can live better and spend less by taking digital detoxes, practicing mindfulness, incorporating exercises, and eating at home.