It sounds like such a simple concept doesn’t it? I think we all realize that we can’t spend more than we make and expect that to work for very long. Franklin D. Roosevelt said, “Any government, like any family, can for a year spend a little more than it earns. But you and I know that a continuance of that habit means the poorhouse.”
If Roosevelt is right that “you and I know that a continuance of that habit means the poorhouse”, why do we continue to spend more than we make? Is it simply a case of “keeping up with the Joneses” and trying to live a lifestyle that is above our means? For those in their 20′s or 30′s could it be that we are trying to achieve the same lifestyle it took our parents 20+ years to achieve? I believe for most of us it’s simply a lack of planning and intentionality with our finances. The money comes in and goes out without any game plan or intention.
As one of my favorites Henry David Thoreau once said, “Almost any man knows how to earn money, but not one in a million knows how to spend it”. Again it’s a pretty simple concept but not too easy to execute. Please give me a call if you are interested in learning more about creating a game plan to intentionally spend less than you make. Thanks
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