Five wonderful ideas to help you survive in an expensive city

Isn’t it true that living in most of the world’s cities is becoming more expensive? To survive in such cities, we need to plan carefully and use resources wisely. What ideas come in handy in this respect? Consider these five great ideas when living in Edinburgh.

1. Create a side-hustle

Do not just rely on your 9.00 to 5.00 job or your private business. You need to find a side hustle to survive in such situations. It could well be that you have a second or third type of business that can raise you aloft. It could be that rarely used skill as a painter or artist or musician that you have not used to the full. You could be a writer who can contribute articles to newspapers, magazines or the internet. Whatever it is, exploit this to your financial advantage. Who knows? Before long, this could even turn into a full-time gig.

2. Develop a money mindset

Perhaps you wonder what money mindset means. It is that kind of thinking that places special value and importance on personal finances. Indeed, if you fail to take charge of matters, everything soon spirals out of control. To prevent this, start taking responsibility for your personal finance, and hold yourself accountable for every penny spent. Yes, you must start investing in your future now. This is what it means to develop a money mindset. Before long, you will master the game of survival in your city.

At the same time, do you ever dream of attaining financial freedom? If you haven’t done so in the past, it’s time to start dreaming. You need to make it your goal. Ensure you make this realistic too. Have realistic, attainable, measurable and specific money goals for the future. This doesn’t just mean working hard. Many have striven to do so but have achieved limited success. Therefore, have a plan and a specific focus.

3. Work to reduce costs

Living in a big, expensive city, you certainly cannot have your cake and eat it. You can’t have everything you need in life. Enjoy what you can. However, control your expenditure meticulously. Analyse how you spend. Generally, the main areas of spending are usually housing, food, and transportation. This is where you need to stop and strategise. What can be cut down on? Find out in what way you can cut costs. Make sacrifices.

For the student who lives alone, why rent a whole bungalow? Get a roommate or rent out a section of the residence if possible. If you must rent, live in a rent-controlled locality. If you are, perhaps, in your early 20s, for instance, and your parents are willing to keep you in, why not accept the offer, for a while, instead of renting your place immediately. This will help you save.

To cut down on transportation costs, live near the workplace and walk or ride a bike to work instead of using public or other costly transport. If your employer sponsors commuting in some way take advantage of it; do not let any benefit extended by the employer pass. To save on food costs, make your lunch at home and avoid eating out over the weekends. Your savings will amaze.

4. Try to get ahead at work

The money mindset and attendant motivation will help you. Remember, one of the best ways for any employee to raise personal income is by earning a pay rise. So, ask yourself: Do I generate enthusiasm and energy at work? Employers seek this and reward it. They also reward those going the extra mile, helping save costs by personal initiative and innovation.

Ultimately, remember that dedication and passion at work pays. Attend functions organised by competitor companies, who knows? They may poach you, with a higher salary.

5. Create networks

Go out and meet people with a similar mindset. This could be in social, community or workplace setting. By doing this, your value will go up.