Enjoy life while living below your means

@itsack (83)
Philippines
June 6, 2011 3:56am CST
How can you enjoy life while living below your means? Is this a good strategy to be debt free or increase your earnings? Or is living below your means punishing a self punishment in enjoying life? I hope to hear from you myLotters! Thanks!
3 responses
aerous
@aerous (13434)
• Philippines
7 Jun 11
Much enjoying life if you contented in what you have. If you want more and more to your life and not contented into it. You never enjoy your life because you always bother about your needs in the future...even if you have money to go anywhere you want. You can't enjoying it, because you always though about your business, money, and what you eat...
aerous
@aerous (13434)
• Philippines
8 Jun 11
I agree with you, friend. That is why more people is not contented in their lives because of that principles. If we are contented we can say we are happy because we are more satisfied in what going into our life. But if follow that principles you say. I don't think we attain the happiness that we want in life...this is the reason why we make mistakes and sin to our fellow...
itsack
@itsack (83)
• Philippines
8 Jun 11
Pardon me for the typo error in the second sentence of the first paragraph of my comment above which should be "There is a big difference..." Thanks!
itsack
@itsack (83)
• Philippines
7 Jun 11
Contentment really is a state so difficult to achieve and be a habit for both rich and poor people. The mindset of Poor people over money and wealth is "I need more and I want more" while the mindset of Rich people is "Some more, Some more!" Contentment and satisfaction is perhaps one of the hardest thing to decide over gaining money and financial wealth. It is in here where the classic Biblical verse comes alive: "The love of money is the root of all evil."
Sanjeev
@sjvg1976 (41131)
• Delhi, India
6 Jun 11
Yes off course this is best strategy to live debt free. If you want to upgrade your living standard then you must increase your earnings to take credits is not a solution. Taking loans is a temporary solution for me.Its not that once you take loans your condition becomes more miserable i think as you have to give installments now along with your other expenses. But then too it depends which loan you are taking as home i wont say will be bad as all of us know rate of land increases at much higher rates that the interest you have to pay on home loans.
itsack
@itsack (83)
• Philippines
7 Jun 11
I agree with you. Taking loans is not a bad idea as long as you have sure resources in amortizing it and a good backup plan should your monthly resources would lack or be delayed. It's better to increase your asset by increasing your equity rather than your liabilities.
Sushi_Tabachoi
@Sushi_Tabachoi (56)
• Philippines
6 Jun 11
I try to practice this as much as I can. I believe this works when done correctly. But if it feels as if you're punishing yourself in doing so, then you are living waaaay below your means. Life is short and is meant to be enjoyed. But how can you, when you're living like an ant always anticipating the rainy days ahead? Live below your means but not in the sense that you'd have to starve yourself to feed the piggy bank more. It only means that you'd have to earn more so you can support the lifestyle you want for yourself. I try to not spend the money I don't have yet, no credit cards - no debts. The operative word is try.
itsack
@itsack (83)
• Philippines
7 Jun 11
Yeah, you're right...and there's no harm in trying. For me, it's a sort of fulfillment buying things you planned for IN CASH, rather than feeling worried acquiring things through SWIPE. You can't really enjoy something you bought when there's something at the back of your mind continuously reminding you of "due dates", "interests", and "penalties".