plonkee money an english-er's thoughts on personal finance

December 21, 2007

it’s not what you make, it’s what you keep

Filed under: philosophical — plonkee @ 12:00 pm

Pound Coins in a RowMrs. Micah is running a post on the best personal finance practices you’ve read this year, and this is mine. In many ways it’s a restatement of the old adage to spend less than you earn (or earn more than you spend). But I think it adds a nice flavour.

However much we make, we can actively do something to keep some. And when we compare ourselves to others, we shouldn’t compare what they spend with what we make, but with what we keep. We should strive to be a case of substance over style.

They say you only live once, so make the most of it. I agree, but it’s going to be a very poor most if I pay twice as much for everything as I need to.

They say that finance is boring, but studying money just a little can help you make the most of your hard-earned cash.

They say that being a millionaire takes a long time, and it does, but if you start now, little by little, you’ll get there in the end.

They say that saving money is no fun. They are wrong being frugal with the things that aren’t important to you, leaves more money to do the things that are.

They say that life gets in the way. Without sorting out your money, how do you expect to pay for your life?

They say that understanding money is too difficult. I say with all the help you can get online even rocket finance isn’t that hard these days.

They say that you deserve to treat yourself because you’ve worked hard. And they’re right, but treating yourself needn’t be expensive.

They say that debt is inevitable. This is true only for those who have drifted into it, the rest of us are choosing to be debt-free or not.

They say that the system is working against them, but they haven’t noticed that every single person can choose to try to do something different.

It’s not what you make, it’s what you keep.

Image Pound Coins in a Row by iainr

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