How to manage status (life style) with our limits without loan & advances?

Answer 1

To many people have champagne tastes on a beer budget.

Answer 2

There are a few rules that work for me:
Do not buy something you don't need for 'status'. Be it clothes, soaps, creams, rice, flour, vegetables, fruits anything.
If you think that your neighbors have higher income than you, shift to a neighborhood with a similar income-group of people. For example in Delhi, living in Preet Vihar can be very costly but living in Lakshmi Nagar and Shakarpur will cut down your living expenses greatly.
Make a budget. If you tend to overspend, allow yourself only weekly pocketmoney to spend like I do for myself.
Never take a loan or advance for 'lifestyle' until your budget allows you to pay EMIs.
Invest wisely. This will allow you to buy some of the things you want in a few years without going overboard.
Maintain a dream diary where you can note down everything you want to buy or do. Once you have enough money, then only spend on that particular desire and then highlight it as 'accomplished'.
DO NOT COMPETE.

Answer 3

Live within your means. You don't have to pretend your someone your not. Why do people spend 50% or more of there income on housing when that is way beyond what they should spend? Because they want status in society. They don't realize that true friends will like them no matter what they have. Guess most people just have a lot of fake friends.

Answer 4

One needs to be clear on What one wants from Life. One can be happy with 100 $ a month or unhappy with a million.

Status would mean How people around you perceive you. Isn' t it?

If you deal with life pragmatically, you would have good health & be mentally and emotionally well. That's it! Khallas...

Everything else is secondary. Happiness/ peace of mind shows and that's what one needs to seek.

Answer 5

The answer is simple. The performance of the answer is often tough. It is as simple as budgeting and discipline to follow the budget. It is as difficult as, "But I don't have the discipline." A person needs a minimum amount of income to survive. Once that minimum is met, then a person needs to actively decide where all the money goes. You choose what you buy and when you buy. Put it down on paper and stick to it. Many people buy on a splurge instead of planning. Vendors such as Wal-Mart call that impulse buying. They put all that stuff out at the register. You go there and see it. You grab it even though it's not on your list. You just went out of budget. Usually 50 cents won't break you. BUT 50 cents here and there adds up to hundreds or thousands over a period of time. If you are already on a tight budget then 50 cents could break you. I know of a case where a woman got her kids happy meals. She went out of budget by two dollars. Her check bounced. Her 20 dollar meal eventually cost her 150 dollars in fees. It costs to go out of budget. DON'T do it unless you know you can afford it. Don't make a habit of it.
NEXT: pay yourself. Put yourself in the budget. Make payments to yourself each paycheck. Note a portion for savings and a portion for fun and impulse buys. Then 50 cents here and there comes out of the budget for you. You won't go broke essentially buying stuff from yourself for yourself.

Answer 6

status connotes with stability and dignity.dignity comes with activities- - deeds.conditioning the mind the meaningful phrase waste not want not - self contentment are the factors for a dignified life status. aspirations should never develop into greediness.

Answer 7

Plan your budget and be disciplined on your spending.Resist the urge to splurge and reward yourself periodically for your discipline by going on a splurge when you have the money.Cut down on Creditcard spending and use Debitcards.

Answer 8

Don't spend lavishly....

http://www.freewebs.com/earn_dollars/

Answer 9

reduse expenses