I work as a bookkeeper and am shocked by how few people don't live within their means. It's a rare bird who does. And it doesn't matter how much money you make, mind you. Even the very wealthy and well-off overspend and can really mess themselves up.

But I think overspending is like living on a foundation of water. You can tip or drown and even if you don't, you go around feeling seasick all the time.

I've been on both sides of the equation.

i live within my means, but dream way beyond them.

I am Obsessed with living within my means. It just seems like the right thing to do. I don't know if it is because I have been reincarnated from times where debtors prisions existed. I have always felt the only money that should be spent is the money one has. This was very hard in my extreamly lean years. Now a days I have lots of money, so it isn't hard at all.


Partly to blame is society, media and such things. They sudgest that people need the crap to be compleat. They do this with advertising that borders on brainwashing. They pay very little and they price things to cost alot. People be trying to fill holes with crap.

I think George Carlin said it best when he said something like he needed to get a larger house because his piles of crap were getting too big.

i live within the margins of my means. i used to be far worse. and a year or so from now, i'm sure i'll be doing far better. the older i get, the more important financial responsibility has become. plus, the less stupid crap i want, so i'm more disposed toward doing smarter things with the money i make. if that makes a bit of sense.

it's hard for me to live within my means sometimes, for the simple fact that i'm single (uncle sam eats the hell outta my tax returns for that), i work a part-time job (even with the most money i've ever made in my life so far, but it still ain't enough after all's said n'done with the bills and rent), and the price of living's constantly on the rise.

thankfully, i still get by alright regardless of all that.

Yes, but I do spend a lot of money each month on living expenses.

my living expenses are fairly low, and i live pretty simply - no car, small apartment, no cable tv, don't go out drinking/clubbing much...also, as a city dweller, i opt for train/bus about 99.9% of the time - i'm not big on taking taxis.

i have never been able to live within my means

i am constantly doing more than i should, buying things that i have to make up money for later, and stressing over money....

its a horrible way to live really, but i have some really cool shit

define within your means...

ufoclub said:

expenditure is the same or less than income.


I try to live within my means but we sometimes have cashflow difficulties due to the nature of having our own business.

well some successful people would define it as saving/investing 25% of what you make... I spend a bit less then I earn, but don't save enough....

Reincarnate said:

I define it as not spending more than what you have. That your year-end profit and loss is in the black. It would be nice to save more, I agree.

I was kind of dumb as a student and racked up gigantic loans (six figures) Ouch! However, I have conformed and converted to not spending more than what I make and paying off my student loans bit by bit. I consider it almost a spiritual practice to live within my means, to live simply and responsibly. Even though my income is low and my living expenses are high, I manage with vigilance and austerity.

When I get an itching to spend, I simply look at what I DO have as abundance and work with it. It makes me much more creative.

The result after a couple years of this practice is that I feel I have a more solid foundation, not just financially, but by the fact that I can trust and depend on myself. And by living this way, my situation can only improve, as opposed to getting worse or staying the same. And that feels really good. Like the future is bright!

And believe me, from my job I've learned it's all relative. It's a state of mind. If your mindset is that you are lacking, you'll spend more than what you have, even if you're a millionaire. Not to belittle those who are just getting by, of course.

An interesting read on how self-made millionaires stay rich...



...by living well below their means.


tA

Tribal Disorder

http://www.soundclick.com...dID=182431

Also checkout Dave Ramsey's book The Money Makeover to learn about saving money and getting out of debt. Also checkout his site www.daveramsey.com Listening to this man help me to pay off a car loan and 9 credit cards. Money is still tight but I now save in my job's 401k and have a debit card too now. But my raises unfortunately don't keep up with the cost of living. I clip coupons and buy EVERYTHING ON SALE AT ALL TIMES!!!!!

rachel3 said:

Congratulations!

Yes, we live within our means. I think the thing is that we never had much growing up. Our parents struggled, so both my husband and I don't overspend. I mean, we treat ourselves now and again, but we aren't extravagant spenders. We only have one credit card, and we pay that off every month. Plus we always put money in savings... ALWAYS. My husband researches most major purchases that we make. I buy clothes on-sale or discount. We go to little hole-in-the-wall antique and consignment shops... We just enjoy it. We are just middle class, period. I don't think that either one of us aspires for wealth, per se, as much as we do security and happiness. However, we do enjoy buying gifts for our family and friends. We also will and have spent a fortune on maintaining our pets' health. So we do spend money on things that some people might think are frivolous, but they are important to us.
[Edited 12/16/05 17:10pm]