Do you live within your means?

Colecash · 07-18-2007

Living within your means is the most important step to financial independence. By spending less than you earn you can live debt free and invest for the future. Unfortunately, most people live up to their eyeballs in debt and any setback they simply will run out of money. How are you doing with this?

Deirdre · 10-13-2007

I think it is very important that people make out a planner, on it they have what money is coming into the household and starting with the most important list in order the items that need to be paid.

Whether you are paid by the week or the month your planner must reflect this.

When you have your planner filled out total up all your outgoings and minus it away from your incomings and you will be left with a figure that you can spend freely till your next pay cheque.

If people stick with their planner they will remain debt free however if we spend more than our incomings we will be engrossed in debt quite quickly.

Kaja · 01-13-2008

Sadly...no. I spend more than I earn. I love shopping! I know that is so wrong so I'm actually trying to change.

pc368 · 02-11-2008

Nope, I don't. But then again, I'm a student, so I'm more or less meant to do so... Will do so when I get a full-time job though.

Aggzzu · 02-12-2008

I should learn that rule.. I spend more than I earn. And that must be bad. Really bad. I just got a lot to buy and I need to have fun too..

07-18-2007	#1 (permalink)
Colecash Junior Member Join Date: Jul 2007 Location: Indiana Posts: 20 Rep Power: 0	Do you live within your means? Living within your means is the most important step to financial independence. By spending less than you earn you can live debt free and invest for the future. Unfortunately, most people live up to their eyeballs in debt and any setback they simply will run out of money. How are you doing with this?

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10-13-2007	#2 (permalink)
Deirdre Member Join Date: Oct 2007 Location: Ireland Posts: 46 Rep Power: 0	I think it is very important that people make out a planner, on it they have what money is coming into the household and starting with the most important list in order the items that need to be paid. Whether you are paid by the week or the month your planner must reflect this. When you have your planner filled out total up all your outgoings and minus it away from your incomings and you will be left with a figure that you can spend freely till your next pay cheque. If people stick with their planner they will remain debt free however if we spend more than our incomings we will be engrossed in debt quite quickly.

01-13-2008	#3 (permalink)
Kaja Junior Member Join Date: Jan 2008 Posts: 15 Rep Power: 0	Sadly...no. I spend more than I earn. I love shopping! I know that is so wrong so I'm actually trying to change.

02-11-2008	#4 (permalink)
pc368 Junior Member Join Date: Feb 2008 Posts: 7 Rep Power: 0	Nope, I don't. But then again, I'm a student, so I'm more or less meant to do so... Will do so when I get a full-time job though.

02-12-2008	#5 (permalink)
Aggzzu Junior Member Join Date: Feb 2008 Posts: 10 Rep Power: 0	I should learn that rule.. I spend more than I earn. And that must be bad. Really bad. I just got a lot to buy and I need to have fun too..

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