Living Within Your Means

Photo Courtesy of: www.rapgenius.com

Far too often today I see people shopping and buying for status associated with those items. Spending outside ones means or spending without anticipation of your future financial situation will inevitably catch up with you. I know it certainly caught up with me and my husband.



If you are spending massive amounts on exterior baubles and non-essential items do you have a high-yield IRA set up somewhere? Or perhaps you are one of the many who have accrued massive credit debt as a result of your spending. 


I doubt those people you are trying to impress now will be impressed later when you are broke and elderly, inevitably reliant on public assistance because you failed to plan accordingly. My husband Orlando was this person when I met him, I was also this person at one time, however, we were both young and our priorities were different. On top of that, we had little guidance to steer us away from this path. This isn't an excuse by any means, because our actions were irrational and irresponsible and we are still paying for them now.

I used to get my nails and hair done once a month, wear brand new clothes I bought monthly, and yet didn't even have a car because I couldn't afford one on my minimum wage salary. Why because I wanted to impress those around me by enjoying things I always wanted to when I was growing up poor. 

Don't get it twisted, I am a child of welfare, a child of food stamps, our Christmas gifts came from Toys For Tots because my parents were both High School dropouts. That is not to say they didn't work hard, my parents did everything from bogging cranberries to cleaning movie theaters to keep a roof over our heads, but it was always a struggle to get by. There were times we didn't have heat or hot water, but my parents always pulled it off. My husband Orlando had a similar childhood so it was only natural to want more for ourselves. What we didn't understand then was the importance of financial restraint and fiscal responsibility.

We wised up quickly and gained maturity and wisdom. Being a girl I did it a little faster (LOL). We no longer see the appeal of shopping at high end stores, buying useless non-essentials, or living outside our means. In addition, we are planning for the future to ensure our children learn these lessons much earlier than we did.

What does living within ones means mean to you? Please feel free to contribute and discuss below.