Posted Nov 28 2007, 12:01 PM by Karen Datko
Filed under: Debt, Spending, Family, Saving
Rating: This post comes from partner blog The Dough Roller.
If I could write just one thing about achieving financial freedom, it would be this: Spend less than you make.
Like all habits that lead to financial freedom, spending less than you make is simple to understand, but hard to follow. For some reason, we always want more. At times in my life I've made very little, and other times I've made a lot, but at all times I've wanted just a wee bit more. I find it just as difficult to live below my means today as I did 15 years ago making about one-third of what I make today.
The problem isn't about how much we make. We are the problem. This is critical to understand because until you identify the problem, you can't fix it. If you think the problem is your income, you'll spend your energy trying to make more money. While there is obviously nothing wrong with making more money, I speak from experience when I say that making more money will not make spending less than you make any easier.
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