“If you want to live decent, live within your means, but if you want to live prosperously, live below your means.” – Economics Professor no one would know
If you have to financially stretch yourself to sustain your current life-style, odds are you’re trying to live beyond your means. Why is that bad? Because if one financial domino tips over in your life, so will all the others… Usually.
Living within your means is good. However, if you want to advance your current position, that won’t get you there too quickly. That’s why Dave Ramsey loves to say “if you want to live like no one else, you need to live like no one else.”
This is what he means: If you want to be financially healthy, you need to be radical by doing what it takes to get there. For some time, you may have to live below your means. What does that mean? Most things are self-explanatory, but here’s a start:
– Muster up your will power
– Discipline yourself in your spending and saving
– Kill the debt & resurrect the savings
Whatever economic ‘bracket’ you’re in, own it. Don’t focus only on being a savvy spender, be a savvy saver! For a couple of savings tips click this for wisdom.
It may be tough to live below your means, but it has been proven to be beneficial in the long haul…
If you’re serious about it and feeling rather radical about it, consider reading The Total Money Makeover: Classic Edition: A Proven Plan for Financial Fitness!
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Cheers & God Bless
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