For some of us one of the most challenging lessons in life is learning the art of handling money and knowing how to finance ourselves wisely. It seems that there is always some temptation to spend money.
However the world demands that every individual knows how to take care of themselves, how to be independent, self-reliant, how to finance themselves wisely, and how to make the most of their income.
One lesson we should all pass along to our children is the tragic consequences of debt, especially when incurred in early life. It has ruined many of the most promising careers. Nothing kills our enthusiasm, zeal, and creativity than feeling trapped and like we have our hands tied hand and foot by the curse of debt.
When we fall into the self-defeating habit of purchasing that which we cannot afford can lead to handicapping ourselves for many years. No one can be happy, no matter how optimistic who is forever in the clutches of poverty, of harassing debt.
I don’t know about you but I have made the conscious decision to no longer live beyond my means. There is an old adage which says the best way to get out of a hole is to stop digging. Starting today I am making the commitment to stop digging. And will commit myself to increasing my financial acuity.
I shall adopt Charles A Jaffe’s saying as my new mantra …. “It’s not your salary that makes you rich, it’s your spending habits.”