What does living a rich life really mean?
Is having a nice house, a nice car and enjoying the finer things in life living a rich life? Maybe. I used to think that’s what “a rich life” really meant. I’ve come to realize that this can be a part of living a rich life, but this isn’t what makes you rich. Or it isn’t what makes me rich at least.
Life is really just a collection of moments and memories. So, when I now think about living a rich life, I think about building a life rich in moments, rich in experiences and future memories. Given where I am in life right now, this sometimes means I need to choose – have a rich memory or have a nice(r) ‘thing. Would I rather be in a ‘meh’ Airbnb in Mexico for 6 months or not be in Mexico at all? Would I rather take the bus to do weekend trips for a month or rent a car and only be able to do one weekend excursion? I’ll take more experiences all day long. For me, living a rich life means I get to live a life on my own terms and fill it with memories and experiences that will stay with me forever. My rich life looks like running my own business The Healthy Food and Beverage Group from wherever I want, living in new places 3-7 months of the year and getting to live a life of adventure because that’s what I want.
If all that travel and freedom sounds expensive, it doesn’t need to be. Living a rich life on a budget is absolutely possible. So, how do you live a rich life on a budget?
My Top 3 Ways to Live A Rich Life On A Budget
- Rent out your home while you live somewhere new for less money. Doing this has allowed me to live in 6 different countries and over a dozen different cities in the past 5 years. Living for less than your current mortgage or rent payment doesn’t mean you can only live in South or Central America (although that can greatly reduce expenses), you just need to look for places allow you to be in a city you want to be in, so you can do the things you want to do at a lower cost than what you spend today, or heck, even if it’s the exact same living expense, isn’t your life richer being in a new city with new experiences than staying in the same place year after year? I’ve lived in Paris, London, Lisbon, and numerous other cities across Canada, Mexico and the United States. By renting my Toronto condo on Airbnb, I’m able to fully cover my mortgage payment and live somewhere new for less money or worse case I breakeven. Living somewhere new and not needing to increase my living expenses is absolutely living a rich life to me.
- Work life integration. When I get to work hard and play hard, that’s living a rich life to me. Sometimes this looks like working 12-14 hour days for 3.5 days a week and then being completely unplugged for 3.5 days like when I did a cross Canada road trip. Other times this looks like taking a surf lesson before work or unplugging to catch the sunset and go for a swim and then plugging back into work at night. For me, living a rich life doesn’t mean I have a set 9-5 schedule. It means I work when I can get the most done for both work and life. The key here is finding a way to live life while working and integrate the two together. I used to just work work work and while this gave me monetary wealth, it deprived me of true richness in life. Now, I seek places and opportunities to be ‘rich’ across multiple areas of life and it’s made all the difference in how I find happiness and accomplish growth and provide impact in the world.
- Spend on the things you’ll remember and live frugally on everything else Are your memories going to include how nice your accommodations were or how amazing your experiences were? In most cases, it’s likely going to be the experiences, not the nice white linen sheets you slept on. Now, for a digital nomad like me, where I’m staying does matter because I will sometimes work from home so a strong internet connection and a decent backdrop is necessary but it’s not where I like to spend my money. Living a rich life might mean living in a low budget home for a month, which then affords me the opportunity to work from a co-working space where I have the opportunity to meet other likeminded people. That to me is a tradeoff I’ll happily make to afford me the connections and community that’s so needed as a digital nomad. Other ways to spend on what matter for me including not typically ordering drinks when I’m out at a restaurant, making food and coffee at home and taking public transportation or walking. Not only do these lifestyle changes allow me to reduce my expenses, they also enhance my life. Less drinking, more healthy food and more exercise are all ways to live a rich life today and well into the future,
For me, living a rich life means I’m filling my mind and heart with what truly makes me happy and what really matters at the end of the day. Some of my best memories include eating homemade food on the beach, on a campsite or simply in a park with great company and great conversation. Money does not buy you the great memories or a rich life. The people around you build those rich experiences. The lessons you take from what you do build your rich life and the happiness you allow yourself is what a rich life really is. At times I need to remind myself of this, and so, this blog is a reminder that living a rich life on a budget is 100% possible and 100% worth it.