Monday, August 21, 2006

Money Monday

It has become imperative in this world that one live below their means rather than simply according to it. When my husband and I were first married, he made a good income and we planned our budget accordingly. For the first few years this worked well. After the birth of our daughter, our budget was a little tighter fit, but we were still comfortable. As the years progressed, something we did not expect began to happen. As the cost of living went up considerably, my husband's income only increased a little. Suddenly, our budget no longer worked, and we found ourselves digging a hole of debt. Had we been living beneath our means from the beginning, we could have adjusted our budget more comfortably. So, if you are newly married or thinking about buying a home, do not assume that your income will rise at the same rate as the cost of living or take out a mortgage that maxes out your budget. Learn to live simply. Have simple tastes. Learn to do without. You will be thankful in the long run. Posted by Picasa

1 comment:

Donna said...

I hear you. At one point we didn't have to budget or worry about money. But nowadays the industry my husband works in is in a slump, there have been pay cuts, no overtime and no pay increases in the last five years. It made me wish that we had been more careful before the need to slapped us in the face.