A study by the financial services company Moneybox revealed that 53% of Britons aim to improve their finances in 2025 by setting clear goals and cutting unnecessary expenses.
As the saying goes, “A man lost to himself is as good as dead, and one who lacks the means lives in misery.” But is it really possible to live a good life without lots of money? Yes—it may not be easy, but it is possible to live well on less.
You work hard, even through sleepless nights, yet still find yourself complaining about poverty at the end of the month. You might ask yourself, “How can I live comfortably without overspending?” Let’s explore eight habits you should drop if you want financial peace.
- Living beyond your means
You earn a modest income, but your lifestyle doesn’t match it. Influenced by those around you living expensively, you try to keep up—and end up in debt.
The Rwandan proverb says, “Another person’s journey is exhausting.” Everyone has their own path, challenges, and secrets. You don’t need to live someone else’s life—live yours. Wealth doesn’t come from copying others but from having a purpose and managing your resources wisely.
Spending more than you earn leads to debt, stress, and anxiety. Taking care of yourself is important—but doing so at the expense of your peace and stability is a bad trade-off.
- Ignoring a budget
You might find budgeting tedious, but writing down your financial goals and plans can significantly boost your discipline and success.
Many people track their priorities—what they need, how much it costs, and when to do it. This prevents wasteful spending.
I once lived recklessly, spending without a plan. One day I looked at my bank account and was shocked. From that moment on, I committed to budgeting—and that’s when I began to build real wealth.
- Neglecting to save
American investor Warren Buffett once said, “Do not save what is left after spending; instead spend what is left after saving.”
Even in hardship, savings can be a lifesaver. But if you have no savings, who rescues you when trouble hits? It becomes a cycle of despair and constant financial stress.
According to the same Moneybox study published by The Scottish Sun, more than half of Britons are looking to improve their financial health in 2025 through intentional saving and reduced waste.
- Impatience
Some people settle for shortcuts because they’re tired of waiting for the right time. Others abandon their goals, thinking they’re not capable—yet success takes consistency and patience.
Impulse spending often stems from the fear of missing out when you see others buying things they enjoy. But those little splurges can quietly destroy your financial future.
If you want to live joyfully without going broke, you must train yourself to endure discomfort and delay gratification. Good times and bad will come—but your discipline must remain.
- Spending on small, frequent purchases
A drink here, a coffee there, a pack of phone credit today, a pair of shoes tomorrow—those small purchases add up fast.
Do you realize that no amount of money is too small to matter? Just because it’s “a little” doesn’t mean it’s not worth tracking. Ask yourself before every purchase: Do I really need this? You’ll be surprised how often the answer is no.
- Overlooking free opportunities
Many useful and enriching opportunities cost nothing—like public libraries, free events, or online courses.
I used to stress about affording books until I discovered libraries where I could read all I wanted for free. People often dismiss free resources, yet continue wishing for things they could already be enjoying.
- Lacking financial literacy
Most people never learn how money works in school—but financial literacy is something anyone can pursue at any age.
Learning how to manage money, grow it, and save it can lead to a happier, more stable life. It’s one of the most empowering skills you can develop.
- Believing that money alone brings fulfillment
Some say money isn’t everything, while others believe it can solve all problems. Both views miss the point.
You can have a lot of money and still be broke emotionally or mentally if you don’t know how to manage it. Happiness doesn’t come from how much you earn—it comes from how wisely you live with what you have.
Living a joyful life with less money is not only possible—it’s powerful.
