Live Like You're Poor So You Can Actually Become Rich - Digest Your Finances (2024)

This is one of the simplest statements but has the most profound effect on your life and financial success. The question is “How do I become rich?” Well, my dear reader, the answer is quite simple.

It’s so easy to get carried away by the endless abundance of stuff. But what if I told you, in order to succeed financially, you actually have to learn discipline yourself and avoid stuff? To basically live like you’re poor, so you can actually become rich?

Let’s start off this article with one of Dave Ramsey’s famous quotes:

If you will live like no one else, later you can live like no one else ~ Dave Ramsey

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This is obviously much easier said than done. If it was so easy, everybody would do it! The simple fact is, if you only strived to only acquire what you need, instead of what you want, you would quickly supersede the majority of people around you!

We want stuff!

You need transportation, but you don’t need a brand new $50,000 car. You need clothing, but you don’t need a $300 pair of shoes. You need a purse to keep your wallet and phones, but you don’t need a $400 designer purse. Just because you can afford it (either you have enough in the bank account, or your credit card can buy it for you), doesn’t automatically turn it into a need.

This constant need to get the newest, shinest, and prettiest stuff is the biggest thing the majority of people suffer from. And ironically, while striving to look their best, will be the exact thing that will prevent them from ever succeeding financially. So instead of trying to live like you’re rich, you try actually live like you’re poor? Let’s dive a bit more into it.

Learn to live within your means

You have probably heard this statement before, but it’s so easy to dismiss it as just another thing people say to help you keep your finances in check. Let’s try looking at this thing called life from a different perspective.

If you are reading this, you likely have either a smartphone or a laptop. You likely have a warm bed and a roof over your head. It’s so easy to take these things for granted, and just want more and more. How about you stop for a minute, take a look around, and just appreciate what you have and stop the insatiable urge to keep buying and spending.

This is exactly why we don’t feel rich. It’s in our wiring to always keep wanting more and more. And once we have it, we want even more. This is exactly why they call it the rat race. And you have to learn to turn that part of you off.

You only live once

To most of you reading things, the first thing that came to mind was YOLO. An excuse people have created to live recklessly and acquire stuff without consideration of what effect that has on their future. But what if we turned it around.

What if you realized that because you only live once, you should focus on the things that really mattered? The things we are all obsessed with give temporary happiness. Think of the last pair of shoes you bought last year. Or the last smartphone you bought. Or even that purse. You were incredibly excited when you got them, but are you just as excited today? No. Probably not. And here lies the problem.

Life is so short, and things will not fill that void we all have to find meaning and purpose. Your purpose is not to buy the latest and greatest things, but it’s to live a long and fulfilling life.

The idea isn’t to literally live like you’re poor, like a homeless person, but instead, take a second to look around you in appreciation and practice a little discipline. It will go a very long way financially. Thank me later.

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