Interesting phrase I heard today while watching a couple of financial management related videos on people’s takes on what it takes nowadays to remain debt free. I guess we all heard of the phrase \u00e2\u20ac\u0153Live within your means\u00e2\u20ac\u009d which essentially means that you shouldn’t say buy things that you can’t realistically afford. Example, using your credit card to buy something that costs $4000 when you only make $1000 a month isn’t the way to go.<\/p>\n
There was one comment that said the main point should be to spend less than what you can afford to ensure that you will always have some money left over. An example that was used was a car. If you want to buy a $15,000 car where you saved exactly that amount to buy it then you should look to buy a $12,000 car. If you budgeted your meals where you can spend $20 a day on food then you should buy things that are $15 instead. Again, the notion was that this way you would always have money.<\/p>\n
I highly agree with the notion that you shouldn’t ever spend all of your money as you should always have something left. That’s one thing that I do all the time when it comes to handling money to ensure a healthy financial portfolio. I guess the main difference is that I wouldn’t try to deprive myself of buying something lower for the sake of simply saving money. But instead I just can’t buy the item in general if I don’t have that money nest.<\/p>\n
So like with the example of a car if I was deadest in purchasing a certain type after thorough research I would still be inclined to buy it as I assume I did that research and made my decision based on value, needs and functionality. However, if in total it costs $15,000 then I probably wouldn’t even buy it unless I have say $20,000.<\/p>\n
In my opinion, I just find that way more appropriate where you don’t have to settle for less necessarily as instead you are just working even harder to get what you want. Course, I’m sure my method is a lot harder if you aren’t already financially disciplined. So in that sense, I can see how the above can be a good way to train yourself with your money and spending habits.<\/p>\n","protected":false},"excerpt":{"rendered":"
Interesting phrase I heard today while watching a couple of financial management related videos on people’s takes on what it takes nowadays to remain debt free. I guess we all heard of the phrase \u00e2\u20ac\u0153Live within your means\u00e2\u20ac\u009d which essentially means that you shouldn’t say buy things that you can’t realistically afford. Example, using your […]<\/p>\n","protected":false},"author":1,"featured_media":12165,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"jetpack_post_was_ever_published":false,"_jetpack_newsletter_access":"","_jetpack_newsletter_tier_id":0,"footnotes":"","jetpack_publicize_message":"","jetpack_is_tweetstorm":false,"jetpack_publicize_feature_enabled":true,"jetpack_social_post_already_shared":false,"jetpack_social_options":{"image_generator_settings":{"template":"highway","enabled":false}}},"categories":[5],"tags":[35,5954,21,2933],"class_list":["post-2781","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-financial-management","tag-finance","tag-financial-management","tag-money","tag-spending-below-your-means"],"jetpack_publicize_connections":[],"jetpack_featured_media_url":"https:\/\/www.al6400.com\/blog\/wp-content\/uploads\/2014\/02\/9.jpg","jetpack_sharing_enabled":true,"jetpack_shortlink":"https:\/\/wp.me\/p6VnHC-IR","_links":{"self":[{"href":"https:\/\/www.al6400.com\/blog\/wp-json\/wp\/v2\/posts\/2781","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.al6400.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.al6400.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.al6400.com\/blog\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.al6400.com\/blog\/wp-json\/wp\/v2\/comments?post=2781"}],"version-history":[{"count":1,"href":"https:\/\/www.al6400.com\/blog\/wp-json\/wp\/v2\/posts\/2781\/revisions"}],"predecessor-version":[{"id":2782,"href":"https:\/\/www.al6400.com\/blog\/wp-json\/wp\/v2\/posts\/2781\/revisions\/2782"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.al6400.com\/blog\/wp-json\/wp\/v2\/media\/12165"}],"wp:attachment":[{"href":"https:\/\/www.al6400.com\/blog\/wp-json\/wp\/v2\/media?parent=2781"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.al6400.com\/blog\/wp-json\/wp\/v2\/categories?post=2781"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.al6400.com\/blog\/wp-json\/wp\/v2\/tags?post=2781"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}