We all want to live like a celebrity. Heck, I get the pull. Beautiful cars, big houses with a mother in-law suite (never mind you don’t have a mother-in-law), and being able to travel at a moment’s whim. It is a very appealing lifestyle.
I’m not quite rolling in the Benjamin’s so I have to “settle” for a different lifestyle. But, it’s still a pretty good one. I travel, own a beautiful home, have a growing net worth, and feel completely content.
In short, I live like a celebrity for a fraction of the cost and here is how you can too!
Decide what’s important to you.
Before you are rolling in the dough (and after) you really need to decide what are the most important values in your life. Take a deeper look into your life and see what is it that makes you tick. What is your “why?” Once you have identified your real why, you can start creating a life around that.
You might find that what’s really important to you is not necessarily taking luxurious trips to exotic locations and sipping pina coladas, but the ability to not feel tied down. It might be the feeling of absolute freedom that drives you.
Once you know what is really important, you can start building a life around freedom of location. It takes strategic thinking, but not necessarily a lot of money.
Find out what is important to you and spend heavily on that.
Save your money.
Yes, save, not spend. How the heck does this relate to living like a celebrity? Because, the more you save the more you earn. Eventually there is a tipping point where your money starts working for you. This is one of the best transitions out of the “trading time for money” mentality. Does it take time? You bet! But it’s so worth it. Imagine waking up to find you can survive on the interest alone and not even touch your contributions to this investment account.
Deload your risk.
I’m going to let you in on a little secret. I have a seemingly luxurious life because I have worked my butt off to pay off debt. Yes, I am 100% debt free. When you don’t have debt, you can say yes to more things than saying no. Start paying off your debt now, future you will be very grateful. Pay the debt off now, so you can say yes to spontaneous trips, paying for a car with cash and even buying your dream house without it being a burden.
Buy quality over quantity.
If you want to dress like a celebrity, learn how to get the biggest bang for your buck on a budget. There are name brand clothing sites such as Gilt.com, myhabit.com, or even the sale section of your favorite retailer. Another tip? Use the one-third rule. This means that you will buy one-third fewer clothing items, but spend one-third more. For example, if you typically spend $60 and get three shirts ($20 each), you would buy one shirt and spend $26+. It’s a small principle that reminds me it’s okay to spend on quality items that will last for a while. This will keep you looking professional, classy and trendy.
Learn to travel hack.
Traveling is amazing, but it can be very expensive. These tips will help you tame the travel budget and still see the world for a fraction of the cost. Travel to other countries and stay there for 3-4 weeks at a time. You can go live in Thailand, rent a pretty sweet apartment/condo, eat, and do all the touristy things for less than $4,000. Check out airbnb.com for some great deals on short-term housing. Travel during the off-season. If you want to save thousands and still have a great time, travel during non-peak months.
Also, try to book your flight 54 days in advance. I’m not sure what the magic is behind 54 days, but according to smartertravel.com, this is one of the least expensive times to book travel.
Be careful about hidden travel costs. Checking a bag can cost between $25-$50 and is a huge waste of money. That’s $50 you could be spending on drinks while lounging on the golden sand.
Find deals for your favorite restaurants.
Go online and seek out coupons for your favorite restaurants. You can find great deals at some of your favorite restaurants by seeking out discounts. Check the restaurants website. I live in Boise, Idaho. Occasionally downtown Boise works to promote the restaurants by offering specialized menus allowing the chefs to try their own new creations. Delicious, gourmet, meals at a fraction of the cost.
These are a few of the tips I have for you to live like a celebrity at a fraction of the cost. Of course, I have to admit, while all of this is fun; don’t forget that material items will not help you on your quest to happiness. The things that truly make you happy are the people around you, the friendships you build, and you hustling everyday to achieve your goals.