Do you find the need to uphold an image that costs more than you make? Or do you find yourself buying products that you can’t afford, for the simple sake of your comfort or sanity? Yesterday, when I explained to a friend that I can no longer make sacrifices for miniscule things like hair conditioner, she told me that I need to live within my means.
Does suggesting that we live within our means imply that we should forsake personal comfort in order to have money in the bank? Should we thrift shop for work suits and never see first run movies? I told my friend that, my having worked for the past 14 years of my 28 year existence, I’ve earned the right to high-end conditioner and whatever other products or services that I deem necessary for my happiness and progress of my life goals. She simply asked; “have you?”
I’m not rich, but I figure that if I’m ever going to get that way, I’ve got to push myself in the general direction of the wealthy. The mere fact that I can now slide my hair brush through silky strands instead of a tangled mess, makes me feel more confident – and saves me at least five minutes each morning.
During our engagement, my husband and I were advised by a minister to live within our means. This man was pretty wealthy. He advised us to make wise purchases and never use credit. This man was happy and fulfilled and lived by his own advice. We have followed much of his advice. We don’t have cable T.V. because we prefer to afford movies at the theater. We eat most meals at home, and save tons for our business. I work out of my home, and have even downsized my home in order to simplify my monthly expenses.
But, there comes a point when we should not have to sacrifice for the sake of the future. We need to make ourselves happy now. And, as silly as it seems, material items play a small role in that.
Maybe it’s not in your means to hire an assistant or get a better computer. But, there is growth potential in both expenses. As entrepreneurs, I think we need to think beyond the box of what others may consider our means. Perhaps our means shouldn’t only be measured in money, but in potential and tolerance as well.
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Great post Gina. I’ve always been one for living within your means. If you don’t it can and most likely will catch up with you.
From the experience of several of my family members who have either filed bankruptcy or have had to turn in the keys to their home by living beyond their means.
Not only that but even if you have a business that makes good money you are most likely seriously hindering it’s growth because of the money you are taking out to support your lifestyle. If you were to reinvest that money into the company and make it larger and stronger then in a couple of years you could probably earn the income you are now but without risking the stability of your company and lively hood. It’s all about good timing and priorities.
Yes! Timing plays a huge role in when/how to spend money. And, the mistakes of others are like free lessons on whatnot to do in our own lives. Great points!