Article Finding joy in living well within your means

Many of us spend more than we realise. From grabbing a coffee each morning to buying lunch at work, these small purchases and habits quickly add up and can leave us living beyond our means without even noticing. 

Research has found that more than 26% of UK consumers spend more than they earn each month, at an average overspend of £190 per month (adding up to £2,280 per year).¹

The good news is that living well within one's means is possible while still finding joy in the everyday moments.  

You don't have to give up the things you love to live a good life. It's about being money-smart and not overspending. By having a better financial position now and in the future, you can focus on the things that matter most, like travelling, new experiences and the freedom to enjoy life how you want, without any financial burdens. 

Want to learn how to make the most of what you have? Keep reading for practical tips on finding joy in everyday life while living within your means. 

Living a minimalistic life 

It's easy to get caught up in the idea that you need a lot of possessions. With clothing styles constantly changing to match trends and new gadgets being released, it's no wonder that many of our homes are swamped with endless possessions that, more often than not, we don't need.  

But decluttering your home and reducing the number of possessions you have could help reduce stress levels, increase gratitude, and help you find a newfound contentment for the present moment. 

By avoiding excessive consumerism and living within your means, you’re more likely gain better financial stability and the freedom to spend your money on the things that really matter to you, such as experiences that create lasting memories. All of this could ultimately contribute to a greater sense of wellbeing and overall happiness. 

Finding contentment in what you already have 

Contentment comes from finding appreciation and value in what you already own. In a world that sees having more belongings and money as happiness, it's a refreshing perspective when you find happiness in the things you already have. 

You don’t always need to chase the next best thing. Maybe you have a favourite book that brings you genuine happiness every time you read it or a teddy given to you when you were a child. It’s more meaningful to have possessions that have significant meaning to us than constantly accumulating new ones that will probably get discarded within a few months. 

Enjoying hobbies and activities without overspending  

Not every passion requires a big budget. Some of the most rewarding hobbies and activities could cost next to nothing (or less than you expect). Picking a less expensive hobby can help you explore new or old interests without breaking the bank. 

Perhaps you could consider pursuing hobbies that use what you already have. If you own a camera (or even just your phone), start exploring photography for example. Pick your favourite location and try it out. Google tips and tricks on the different settings, learn how to use it and snap away.  

Enjoy simple pleasures like reading, writing, or drawing. These activities don’t require a significant investment and can often be done for free or with minimal funds. Starting a book swap with friends, family or colleagues can help keep costs down.

Combine hobbies with exercise. Go for a walk or a run and explore your local area. Not only are you making it a valuable way to spend your time, but you’re also helping to keep your body fit.  

Spend time in nature

In modern times, we tend to enjoy spending money when connecting with others, whether going out for lunch or having a coffee and cake in your local bakery. But there are ways to spend valuable time with your loved ones without spending a fortune or even a penny at all.  

Connect with others who enjoy the simplicity of life by doing free or low-cost activities. These could include going for a long walk in your local park or the countryside, gardening, or enjoying a coffee at home. 

Being outside in nature uplifts people's moods and provokes meaningful conversations, rather than sitting in overpriced coffee shops and conforming to society's norms. A study of 2000 people by researchers found that environments with more natural features are associated with greater mental wellbeing, rather than those with fewer features.2  

Navigating social pressures and money

It can be hard to say no to an invitation when your friends are going out. While there’s nothing wrong with going out and enjoying the odd weekend, it can quickly strain your budget when it's week in and week out.  

Don't let yourself be influenced by society's pressures or the fear of missing out (FOMO). It's okay to say no. Stay true to yourself and avoid comparing your life to others. 

A tip? Try making better comparisons. It’s human nature to compare ourselves to others, so trying to eliminate it from our thinking completely can be difficult. Our Financial wellbeing flipbook covers this topic in more detail. 

Remember, you'll never truly know anyone else's financial position and the burden they might face by living what they display as a 'glamorous life'. They might be showing up at every event but struggling a bit financially behind closed doors. 

Nurturing your wellbeing on a budget 

We all deserve to feel great, both mentally and physically. But nurturing yourself doesn't have to be an expensive task. It is possible to enjoy this sense of wellbeing on a budget while still getting the same high-quality results we look for.  

Opting for at-home, DIY beauty treatments is a practical and cost-effective way to indulge in your favourite wellbeing comforts while teaching yourself a new skill. 

When you think the average cost of getting a basic gel polish manicure (in London) is around £30 to £40, you can see the savings you could be making.3 Switching will cost a fraction of the price and could help you save more than you might think over the long term. 

Finding joy in simplicity 

Simplifying your life and living within your means isn’t about doing without. It’s about making responsible choices that align with who you are as a person and what brings you genuine joy. By making conscious spending decisions, you could find greater happiness in simple pleasures.  

Want to find out more? Visit our Money Tips hub for more articles like this, or read our Financial wellbeing guide to learn more about why financial wellbeing is important and what actions you can take.