How to Live Like You're Rich (Part 3)... Even If You Don't Have the Budget for It

Being rich isn't just about having a large bank balance, rental real estate, or substantial investments.  An important part of being rich is your mindset.  An "abundance mindset" sees opportunities – for relationships, personal growth, and financial security.  In contrast, a "scarcity mindset" sees problems and limitations – which can lead to fear, envy, hoarding, and stagnation.

(By the way, if you missed them, find Part 1 here, and Part 2 here.)

30 ways to live a luxe life as a minimalist (Part 3)

21.  Use your nice things.

Why are you saving that expensive candle someone gave you for your last birthday?  What are you saving it for?  Light it this evening and enjoy it.  Do the same with the expensive body lotion stored in your cupboard, the real jewelry in the pretty box that just sits on your dresser, and your "company" dishes and glassware.

It's true you might not be able to afford to replace the candle or the lotion once they're gone.  But if they just sit there, "saved" for "best," you'll never enjoy them at all.  What a waste.

The truth is, we don't think we're worth the good stuff.  If we're not in the habit of buying those treats for ourselves, we may not think we deserve them.  But someone thinks you deserve them.  Just turn it around.  If you spent good money on an extra-nice gift for a loved one, you'd want to know they had used and enjoyed the item, not that they had stuck it in a closet somewhere.

I'm giving you permission to enjoy the nice things that come your way.  Instead of living like you're poor and worthless, live like the valuable person you are.

22.  Read your news.

Don't watch it (along with ads and time-wasting repetition meant to keep you hooked) or get it from social media.  Choose one or two balanced, respected news sources (online or in physical form) and read what seems important to you.  Save time, and lose the gossip and aggravation.

23.  Choose a uniform.

Have a "signature look," like Jackie O. with her oversized sunglasses or Audrey Hepburn with her black ballet flats.  A hairstyle, hat, item of jewelry, skinny-jeans-and-a-tee, or even a favorite color can be distinctly "you."  Combine it with classic pieces in a few hues, and you'll always look tasteful and distinctive.

24.  Wear just a little fragrance.

You don't need to announce yourself with your perfume or cover up the body odor of someone who bathes once or twice a month (like the beautiful people of Louis XIV's court).  Restraint is elegant.

25.  Do the maintenance.

Clean things thoroughly (dirt and dust aren't luxe).  Repair what needs it.  Make your things look like new!

Yes, the wealthy can hire housekeepers to clean their spaces.  But if you're poorer, you have the advantage of a smaller home and fewer possessions.

While weekly (in some areas daily) cleaning is necessary for every household, having a place for everything is more important.  When you put things away after you use them (and teach your kids to do the same), you keep messes from starting.

Some messes are caused by failing to put things away, but others are caused by a scarcity mindset.  People hoard because they worry about needing those items.  Yet extraneous possessions steal your space and drain your energy.  When you develop an abundance mindset, you can let go of what you're not using, confident that you're amply supplied.

26.  Educate yourself.

Don't be the person who just scrolls through social media or mindlessly watches TV.  Choose something that interests you and learn about it.  This doesn't have to be expensive.  Take an online virtual tour of a world-renowned museum, such as the New York Met, the Sistine Chapel, or the Louvre.  Perfect a baking technique with YouTube videos.  Borrow library books and read everything you can about a historical era or person.  Be rich in your mind.

The world's greatest paintings are in public museums, and great music and film are nearly free for you to enjoy – if only you develop a taste for it.

27.  Remember the principle of diminishing returns.

If something is good, then more of it is better, right?  Well, even economists say "Wrong!"

That's because adding more provides a positive benefit up to a certain point, but then additional input starts to have a negative result.  You begin to receive less return for each incremental investment.

For example, one or two cups of coffee is great, but how about six?  You might really enjoy the first chocolate from your Valentine's assortment, but how will you feel after you eat the entire heart-shaped box?  Adding some technology can improve your productivity, but at a certain point, when everything you own is "smart," it becomes a burden to manage and maintain, and super expensive to replace.

So after a certain point, each additional dollar spent has a smaller and smaller effect on your satisfaction.  Yes, the difference between a $1,000 car and a $10,000 car may be huge in terms of looks, fuel efficiency, and plain old reliability.  However, the difference between a $25,000 car and a $35,000 car may be simply a matter of brand.  That safe, cared-for, modest house may be a huge step up from a sleazy apartment in a dangerous part of town.  But does the $1,000,000 home really offer so much more?  Turns out the custom crown molding, high-end toilets, and all the unused space might not return as much value as they cost.  Especially since now you need a lot more stuff to fill that home, plus a maid to help clean it.

It makes more sense to learn to be happy with the (smaller) optimal amount.

28.  Remove things that aren't important so you have money for what is.

You decide what that means.  Is Starbucks a luxurious treat for you, or is it just an unconsidered habit?  Maybe you'd prefer to spend your money on manicures or high-end handbags.  Maybe you'd rather have the money for theater tickets or a wine tour.  Just because the auto industry spends billions of dollars each year to convince you that parting with $50,000 of your hard-earned money will make you feel good doesn't mean that's right for you.  Maybe you'd feel richer with larger savings or an investment account.

29.  Practice gratitude.

People with a scarcity mindset think that if someone else has something good, it must be unavailable to them.  So they sit and complain about a cruel, unjust world.  But people with an abundance mindset are inspired by the success of others.  They figure there's an example to follow, something to learn, or a valuable relationship to build, and they get busy.

Cultivate an abundance mindset by paying attention to all of your blessings, large and small.  The beautiful thing about a gratitude practice is that once you begin, you train yourself to look for what's good in your life, which means that over time you see more and more to be thankful for.  It's the door to happiness.

30.  Be generous.

One interesting thing about millionaires is that many of them don't feel they have enough.  There's even a saying, "Rich is always twice what you have," and many of the very wealthy seem to believe that.  Often people with high incomes feel stressed, competitive, and insecure.

But you can afford to give a couple of dollars to the unhoused person who asks.  You can make a donation to the teen who's selling chocolate bars to raise money for choir camp – even if you don't take the candy.  When you buy a can of food for your pantry, you can pick up a second, and then take a big bag of stuff over to your nearest food charity.  You can make a small contribution to the independent artist whose video you enjoyed on YouTube, or even buy me a coffee.

You can afford these small gifts, and still make generous donations to the charities you care about, because you don't waste your money on unimportant, impulsive purchases.

There's a subtle message you send to your psyche when you give money (or anything else) away:  "I have enough."  That belief will cause you to feel secure and contented.  Generosity is the truest sign of wealth.

True riches

None of this is about actually having a high income.  You don't need to stretch your budget or go into debt for the high-end status symbols if you savor and appreciate the good things you already have.  That's how to live like you're rich.