While talking to various Millennials and reading articles devoted to the generation online, I heard and saw that we like convenience. Be it living close to work (and paying higher rents) or having dinner delivered (with an added fee), Millennials enjoy it. However, when times become tough and we must downsize to survive, we, like our Boomer parents, choose not to. Why? Because that means we failed. Yet, downsizing is not failure.
One Reason Why Downsizing Is Not Failure: It Shows Maturity
Downsizing is not failure because it shows maturity when a person realizes he or she has to make changes to improve their condition. Yes, it sucks to move into more affordable housing that’s in a less-fashionable part of town. When you have to decline a friend’s invitation to go out to dinner because it’s outside of your budget is embarrassing. So what!
Maturity requires one to be uncomfortable at times because doing the right thing will not make everyone happy. Heck, sometimes it will even make you angry. Yet, as adults, we have to do what we have to do to survive.
Even now that I make more money and I’ve paid off my debts, I don’t spend wildly. Do I want to? At times, yes, but I don’t. My maturity helps me maintain my willpower when it comes to spending money because I know that will harm certain financial goals I have.
Another Reason Why Downsizing Is Not Failure: It’s Not Permanent
Downsizing is not failure because it doesn’t mean these changes are permanent. Yes, the downsizing period can be short, but it can also be long. When I went on my debt-free journey, it took five years of living lean to accomplish that goal.
So if you have to cut back and give up your car or have to take on roommates, just know eventually things will get better. You will get another car one day. Or you will be able to afford to live alone or with a partner.
Finally, don’t let any negative thoughts depress you about your situation. While it’s fine to have those thoughts, it’s not fine to dwell on them. Again, tell yourself this way of life is not permanent.
Final Reason Why Downsizing Is Not Failure: You Are Helping Your Future Self
Downsizing is not failure because you are taking care one of the most important people during this time: Yourself.
It’s very easy to get caught up taking care of others and forget about your needs. I do it, my mom does it, we all do it. So when you make the decision to decrease your expenses, you help your future self.
Let’s look at it this way: If you had money problems and continued to spend without changing anything, in the future you would be in a worse position than you were in the past. If your future self could meet your past self, he or she would be very angry at your decision.
I’m very happy that past Brittany made the decision to 1) get out of debt and 2) stay on the debt repayment journey when it took much longer than expected. Past Brittany could’ve given up, which would’ve made my present life much different (probably worse) today.
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