Thursday, September 22, 2016

Can You Make it?

Larry Burkett, in his book Debt Free Living, tells about a series of counseling sessions he had.

"Couple #1 came in making $30,000 per year and saying "There is just no way we can make it on that amount of money." After I looked over their bills, I realized they were right. $30,000 wasn't enough to live on.

Couple #2 came in making $60,000 per year and saying "There is just no way we can make it on that amount of money." After I looked over their bills, I realized they were right. $60,000 wasn't enough to live on.

Couple #3 came in making $100,000 per year and saying "There is just no way we can make it on that amount of money." After I looked over their bills, I realized they were right. $100,000 wasn't enough to live on."

The fact is you can never make enough money to live on. It is just not possible. You can ONLY reduce your spending to match what you make. You can only determine you will keep your lifestyle within the actual amount of money you have.

And the proof? I can probably find someone in this country who is cheerfully living within a salary less than yours- no matter what yours is- without debt right now.

I can also find those with a higher salary that are on the verge of bankruptcy.

It is NOT what you make that matters! It is what you spend. 

Next time: How much for what? A look at basic financial planning.

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