Can you live within your means?

It's a very simple concept. Don't spend more than you make. Don't spend ALL that you make. Everybody is likely nodding their head in agreement, as to the simplicity of living within ones means, as they read this. Why then does virtually the entire population live outside their means?

Some would even say, "It's impossible to spend more than you make", and I imagine some would even dare to say, "I never spend ALL that I make". Yet even as I have had these thoughts, I must admit that I always spend ALL that I make. Even though I have managed to save decent sums on multiple occasions, it disappears quicker than it accumlated. The past few years I've managed to spend well more than what I make. On average my expenses are 2k-3k a year more than my projected earnings. Impossible? No. Illogical? Yes.

Who here can honestly say they live well within their means. For those who do, what comforts have you been afforded in the long term? For those who don't, what do you attribute to your need to spend so freely?

 

I dont have a job, yet i still maintain a pack a day smoking habit, and a moderate drinking problem.

 

we do. now. we still don't have massive amounts of cash, but we've been putting away A LOT of money and investing. we live fairly simple, though. pretty basic. starting this year, however, we'll have enough money to start taking vacations somehwere tropical.

 

Have you ever factored the luxuries and opportunities that the money you don't have to spend on these things could attain for you?

 

You said you do, now, obviously indicating that thigns weren't this way forever. What would you say brough on your change of heart regarding financial matters?

The more enlightening question being: How did yourself and Dave handle the change, and what kind of life style sacrifices were required?

 

not really, the things i enjoy most dont cost any or very little money.

 

Yup. Same here.

I dont think I'm the right person to talk cause I dont work and never have worked.
However, I spend everything I get. Its usually enough.
And I have some money in the bank, which I cant spend now, but will get the money when I'm older.

 

At the moment I live on a month to month basis. It's impossible to save money on the salary of a volunteer, but I have no debts and never have had. I also have no doubt that when the time comes, I will save money again when I need to.

As regards what I have to show for all my past earnings. Two full passports, a shedload of memories, blackened lungs and a damaged liver.

I consider what I do to be living well, within my means also. I hate debt, but am lucky in the fact that I have nobody who is financially dependant on me.

 

yea... Ive worked under the table jobs before, but honestly i cant stand spending mass amounts of time doing bullshit slave work.

My first real job will probably be my profession, and i dont know what it'll be yet. Better pay good though.

 

The only time I did not was when I lived in California and made little money.

Other than that I have always at least lived paycheck to paycheck. Now I do much better than that because my business brings in way more money than I need to survive.

At this point I could be unemployed for a year and survive ok. I am not too extravagant though. I like keeping things pretty simple

 

I don't have the choice. I have to live within my means.

I've been independent for less than a year, and in that time, I've had three different jobs, and been unemployed for a total of three months.

Not the best way to start.

But I finally figured it out and got a job I can hold on to for as long as I need. I've had it since January, but I haven't started making money yet. I make enough to pay rent, utilities, and debt payments, but after that and daily expenses for food, cigarettes, booze, and drugs, there's nothing left to save.

However, I have a feeling that this summer I'll be getting more hours, and I won't have a gas bill to pay. So pretty soon, I should be able to put some money away.

 

absolutely not and thats why I have a credit card.

 

this is the first year i have been able to save a signifigant chunk of change...as i was promoted...given a raise and get tips to boot...making an hourly double digit rate around here is almost impossible but i did it...i lived off tips(still am) and saved almost all the money from each paycheck...all i have to show for this is my money...i refuse to spend it on garbage...

 

first you must realize that life is not about money. life is about living and although you're thinking that everybody lives, you're wrong. many people i know have died without living. most of them are still breathing.

 

ahh dont remind me of the money in the bank haha, I am always thinking about it, cant spend it yet too.
Also I don't have a job yet.

 

Hahaha...So do I. I have 3 actually. But you know, someone's gotta pay for that too.

 

Lol. One day we'll get to spend it...
Sometimes it does frustrate me that I cant spend it though. My parents wont let me, but its not even their money, its my grandmas. Ah well...

But you know, you gotta look at the future. Atleast you'll have a nice start when you graduate.

 

Life is not about money, but people should learn to support themselves. I have found that most people that say typical hippie sayings such as that have trust funds so they do not need to worry about money.

That brings up a point though. I try to spend enough to have fun during my days, but also enough to save some and pay everything I need to.

You could die anytime, so I think its best to find ways to enjoy each week that passes, if possible

 

Inherited money is not the blessing it seems for most. I wish you guys well in your use of the "money in the bank".

Sandal-Man, you say life is about living and not about money, but it does take money to live. Not for all, but for most. Some are born into a nice local where they can enjoy company and weather and sites non stop without fee or travel. This case doesn't fit most. Tell me, sir, how you would live a fulfilling life without money?

 

Yeah, if I graduate in this lifetime.
You're right though, its a really nice start ...Hopefully I will be at my senses when the time comes to spend it.