Spend less than you earn is a buzz statement or advice that is almost becoming a cliché. In fact, it is included in some of the money principles by different money experts I have read their articles.
You may have been told to spend less than the amount you earn on several occasions. This is an excellent monetary principle that ensures that you remain disciplined.
When you possess that discipline, you will learn how to spend your money while maintaining a right balance.
However, this principle has been modified or even argued against. Some entrepreneurs believe that such statement or advice doesn’t represent abundance.
A penny saved out of thrift is still a penny. There isn’t any glaring difference. They argue that if you are living below your means then, it probably means that your skill isn’t earning you enough money.
This is a broke mindset. When your income isn’t enough to cater for your basic needs, it becomes even difficult to live below your means. Your means isn’t good enough, so why bother about living below your means.
You need to step up your finances, cater to your needs and have some left over to save. No saves money at the point of hunger. When you are hungry and depressed, you start thinking about how to salvage your stomach not saving.
The fact remains that when you start having enough money, you can feed very well, think and come up with ideas that would beef up your financial life.
Some great entrepreneurs have even concluded that living below your means depicts a negative state of the mindset that could deny somebody financial happiness.
At this juncture, you have a sole responsibility of working your way out of low finances in many than one ways.
The corporate ladder has many stages from generalist, specialist, expert to influencer level. Which ladder do you currently belong to?
Find your way to the top, develop the necessary skills needed to make this happen