Galen Call Reverse Mortgage Specialist Monterey California

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galencall February 15, 2012

It Is Easier to Spend Less Than Make More

No matter how much or how little you’re paid, you’ll never get ahead if you spend more than you earn.

This little piece of wisdom is incredibly common sense when you think about it, yet with so many Blue Pig BankAmericans in debt it’s clear that not everyone follows it in practice.

Living within your means is one of the best ways that you can save your money and set yourself up for financial freedom and prosperity.

Living within your means is very simple, it means that you are spending less money than you are making.

This allows you to put the extra money into a savings account so that you can have a back-up fund for emergencies, save for large purchases, or fund your dreams and passions such as travel or a hobby.

If you are spending more money than you are making, there are two solutions to this problem:

  1. Spend Less.
  2. Make More.

Depending on your situation, most people will find that making more money is the harder of the two options. Usually to make more money you will either have to get a raise at your current job, find a higher paying one, or take on a second job.

This requires a lot of extra work and it is not always possible. Also, making more money can be inefficient, because whatever extra you make will still be subjected to taxes and is worth a lot less when it finally ends up in your bank account.

By far, the easier option is to spend less. If you’re like most people, you already spend a lot of money on things that you just don’t need.

The thing about cutting down your expenses is that although you might notice the difference at first, you will soon get used to life without those added luxurious and not even notice that they are gone.

Meanwhile, your savings will continue to slowly build until you are in a wonderful position of financial security and freedom.

 

Filed Under: Personal Finance Tagged With: Budget, Savings, spending

GALEN CALL


Manager, Reverse Mortgage Division
American Pacific Mortgage Corporation
dba TreeHouse Mortgage Group

Call Today: 831-645-1164
Fax: 831-643-1161
Galen@TreeHouseMortgage.com
NMLS #226129 | DRE #00908338
APMC DRE #01215943 | APMC NMLS #1850

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California zip codes served: 93940, 93901, 93905, 93908, 93921, 93933, 93943, 93950, 93953, 93955, and 93962

Copyright © 2023 American Pacific Mortgage Corporation. For informational purposes only. No guarantee of accuracy is expressed or implied. Programs shown may not include all options or pricing structures. Rates, terms, programs and underwriting policies subject to change without notice. This is not an offer to extend credit or a commitment to lend. All loans subject to underwriting approval. Some products may not be available in all states and restrictions may apply. Equal Housing Opportunity.


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