Posted by: Anne | August 20, 2016

hard lessons: living beneath your means

Reasons You Should Live Beneath Your Means

* Teaching Your Children – Kids learn by example. When they see Mom and Dad being wise with money, they pick up on that. In fact, my kids all know about how we use cash and not plastic at the store. They are learning to watch prices and know that we always shop with a budget in mind.

* Reaching Your Goals – Perhaps you want to go on a dream vacation. Maybe you want to get a newer car. Whatever your dream, you can use the money you save toward reaching it.

* Being Content With What You Have – Learning that more is just more and does not lead to happiness is a lesson all of us need to follow. Knowing that you can be happy with what you have allows you to feel content.

* Being Able to Give Generously – I am believer in the philosophy that you reap what you sow. That is true with the way we give unto others. We can help those in need and find that when we do, we are rewarded 10-fold through other blessings.

* Building Your Emergency Fund – If you don’t have one yet, you need one. What happens when the air conditioner decides to stop running. Or, how will you pay the deductible for your vehicle when you get rear-ended at the stop light? This is why you need an emergency fund.

* Reducing Stress – Without financial burdens weighing you down, you instantly reduce the stress in your life. If something comes up, there are funds available to cover your expenses. No lying awake at night wondering how you will have to put food on the table.

Living beneath your means puts you on the path of financial independence. However, you need to make the initial decision to make the necessary changes needed, in order to make it a reality.

Read the full article at the source:
finance.yahoo.com/news/8-reasons-live-beneath-means-093021409.html

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