The meaning of 'living within your means'
Submitted by see-thru on Fri, 02/20/2009 - 11:28
NEW YORK (Money) --
Question:
I've been having an argument with a co-worker about the difference between living "within your means" and living "below your means." I'm hoping you can settle the issue for us. What do see as the difference between the two terms? --Mark E., Peoria, Illinois
http://money.cnn.com/2009/02/19/pf/expert/below_means.moneym...
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I think "living beneath your means"
is a phrase that Ron Paul used to describe what would happen to Americans who have been "living beyond" their means for the boom years. It becomes necessary, because we are in debt, to pay much of what we earn in settlement of past expenses, thereby depriving us of the means to maintain the lifestyle appropriate to our income.
What if
you are stretching it trying to fight for liberty and against the very things that are taking your "means" away from you? Seems the people with the "means" won't do it or there aren't enough of them or they aren't doing enough. What is the price of liberty? Unfortunately we now live in a country where the more money you have the more freedom and rights you have so the ones with means don't see the importance of our mission like some of less well off do. Seems there is a price for liberty. Either your "means" or the risk of your life and freedom. Boy that sounds depressing.
There are some things you can do that don't cost alot but they don't accomplish alot either. All of the things we are trying to do in this r3VOLution cost money. Anyone else running low while trying to prepare for basic survival? I am afraid they are throwing things at us faster than we can we can stop them before it is too late if it's not already.Should I give up because it's beyond my means to fight it? I think that is thier strategy.
Answer that question please. Do I stop fighting for liberty because I don't have the means or won't if I continue? Do I give up my modest home? My pets? Food? Or do I give in? I'm sure there are many in that position. So where are we? Lawyers? Guns? Money? Lawyers lol. or should I sell my guns for money? I don't think it would be enough money to help.
Chonk123
I see your in the same boat as many of us. You bring up some very interesting comments. Yes, I've really run low preparing for survival. I can't buy the gold and silver everyone else mentions. My savings is in food and weapons, that isn't cheap either. I'm learning to give up basic things and it makes me angry at times, but it is the reality, I'm just trying to learn how to emotionally adjust. I think that is where we win, when we keep our moral compass and don't let the material define us. It definitely is easier to give up things when you have a lot to begin with, it's another story like you say when it's your home, your pets, food etc. Buy the way, never ever sell your guns, that is what helps protect everything else. I think the answer to when you stop fighting for freedom is when your dead. We all just have to do what we can with what we have. The spirit of freedom is in our heart and soul and can never be taken away no matter what our circumstances.
chinkadaro
I've
always been VERY basic especially for a woman. But I need some jeans. They are wearing so thin you can see my worn out undies underneath lol. be nice to have something decent to wear to go to the general assembly and the state convention ect. But the hell with them. At least I am participating and helping get things done. Get more real work done in jeans anyway right? Kinda funny some of the candidates seem to gravitate towards me and talk to me alot. Kinda seems to make the upity committe members look over with puzzled expressions. Like why is he talking to her. he he. Maybe it's refreshing for the folks who deal with politicians all day to be around a real person who doesn't suck up or play games. I tell em like it is and call em like I see em what I expect from them. As it should be. They work for us darn it. But I also thank them when they stand up for what is right and carry a bill like the no real ID bill and get it on the floor. Looks like we are just about in the clear here in Va.
Maybe
they're talking to you because they like the looks of those thin pants. Just sayin.
The two statements can mean the same thing.
To "live within your means" is simply not spending more than you earn. "Living below your means" would be like a millionaire who lives in a cardboard box. The problem with living within your means is that, many Americans are already working two jobs and are barely making it. Pay for the working class has not kept up with inflation for at least 30 years. Things are going to go down hill faster than most expect, I think, since things are worse than most imagine. The middle and upper class have no clue to what is going on, for the most part. Notice how everybody keeps saying (our leaders) that we have to make credit available? But nobody talks about paying the working class enough to live on. It is the working class who will stimulate the economy. That is how this started, with men like Henry Ford and George Eastman paying their workers more than subsistence wages, that is how our economy originally boomed. Not by giving greedy bankers and businessmen more money.
Enjoying Your Life to the Fullest
As long as you don't expect others to pay your debts through the forced redistribution of their wealth.
Living within your means is
buying only what you can pay cash for, a nest egg for emergencies.
Living beneath your means is living payday to payday using credit to get the things you can't afford to pay cash for.
So
should you only buy a house if you can pay cash for it? Or a car? Who can do that? I guess there would be no housing crisis or forclosures because no one would have a house except the extremley rich. No children either. Never know what they might cost ya. How do you budget for your old used car repairs when it breaks down? The price of gas going way up? Wich leads to everything going up. There goes the rainy day funds. How do you budget for a runaway government? I think we have been set up to fail. The best laid plans can be destoyed in a flash these days. Yet I notice how quickly people are judged for "living above thier means" when they weren't 1 yr ago. We all need to be able to see the future now at a time when most people don't even know what has already happened?
Good point
Hard to live within your means when the rules change over and over.
no
that's called living above your means
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woo hoo!
living within your means
well that would mean I didn't have to pay 50% of my wages in taxes : )
Sorry, just had to add that. I guess that means you only spend what you got left after taxes and hope it covers everything. Inflation keeps changing everything, so what would cover one month may not make it the next. So I would also say it is quite a challenge.
chinkadaro
Living within one's means is better, although..
living below one's means, saving a little for a rainy day, is good. But putting everything into a savings account to live off the interest is down right vile. Although, it isn't as bad, as say someone who buys gold and buries it, that is sinful.
Money needs to circulate to generate an economy.
Yes,
We definitely need to kill all those evil people who buy gold. I think burning at the stake is the preferred method.
IMO
Living below your means allows you to save more than within your means. 'Below' helps during hard times (e.g., the economy).
It means
making priority choices whose costs are 'within' the sustainable earnings/income of the person/family.
Living 'below' your means, would be having a sustainable living, but making priority choices that are very frugal in proportion to the earnings/income.