By Winnie Kihuga via fb
Living within your means is often easier said than done. If it were easy, as a nation we wouldn’t have debt problem.
Living beyond your means is pretty easy to do these days, especially since we live in a time when buying on credit has become the norm. But just because it seems normal doesn’t mean you aren’t doing harm to your current and future well-being.
We all know how terrible it feels to miss out or be left out of fun social events due to financial constraints. But don’t let your fear of missing out dictate your spending. You don’t have to follow the spending habits of your friends and family if that doesn’t align with your values.
Resist the pressure to have the same material things as the people around you and even the people on television. You may be able to use credit cards and loans to fake wealth for a short period of time, but you’ll pay for it later, and you’ll end up paying more since interest is added to your balance each month.
Any loan that one borrows, should only be invested in a business or to boost an already existing one, not to sustain a lifestyle.
Ask yourself what is important in life. Is it:
A big house
A big car
An expensive social life?
The only thing stopping me from having an expensive social life is I enjoy living within my means.
I mean, I could have a better phone. I could buy designer clothes. I could take more lavish vacations or purchase more luxurious furniture. But I find a significant amount of pleasure knowing my expenses do not exceed my income.
Spending your hard earned money on what you value makes it much easier to feel financially satisfied.
Staying out of debt means I am not being hunted down by creditors. It means I am not carrying a financial burden from my past while also trying to provide for the present. It means I have freedom to make choices with my excess income. It means I can save if I want, give if I want, or spend if I want. Because I live within my means, I enjoy a significant level of freedom that others do not.
It allows me to sleep better, carry less stress, and live a more calm, relaxed life.
Keep your circle small, keep only friends that have sense!
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