Mountain American Credit Union has seen many benefits of being frugal in families and children:
- Children are very perceptive, if their parents choose not to live financially stretched, they’re more likely to do the same.
- When parents choose to live beneath their means, children less likely to associate material things with their happiness and self-esteem.
- Children learn the importance of memories over material possessions.
For many of us, the idea of living beneath your means sounds uncomfortable. Maybe it’s time to consider the benefits of living as if you have less. Here are 4 tips on how you could boost your wealth:
- Spend less now to have more later – Stick to a budget.
- Raise children with good financial habits – Children don’t just listen to what we say, they watch what we do and absorb our habits.
- Use thoughtful purchasing to create better memories – Living below your means doesn’t mean skimping on making memories.
- Less stress because you have less debt – If you have been living above your means, you’ve likely been acquiring debt.
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