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Tag Archives: spend less

Why Higher Income Doesn’t Guarantee Financial Success

achieve financial success

During my three plus years as a personal financial blogger, the majority of interaction with the public has been overwhelmingly positive. However, there are always those who like to throw out how easy it must be for us to pay off debt, save for retirement, accomplish any financial goal because we make decent income. I know you’ve heard it or though it too. If I could just make x amount of dollars, my worries would disappear. In reality, higher income doesn’t guarantee financial success and here’s why. Higher Incomes Often Mean Higher Expenses While it’s possible to live like a broke college student forever, some lifestyle inflation as your income grows is inevitable. I used to happily stay at Motel 6 and eat cheap pasta and red sauce for just about any meal. As a forty something adult, the quality of travel and groceries that are now acceptable are just a couple of things that have gone up in price. I’m not sure if it’s having a higher salary or just being a grown up, but many of the cheap things that used to suffice don’t work anymore. Spending More Than You Make Results in Debt Whether you make minimum ...

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Reformed Spenders Adjust to Life on a Budget

It has been about three months since Jake at I Heart Budgets shed blood, sweat, and tears to create a budget for my family. I’ve tried to make and follow a budget before, but always got sidetracked and gave up. We also spent money without much forethought, so budgeting doesn’t really work in that scenario. For almost two years, we were on a no spending moratorium to pay off our credit card debt, not really a budget, but it worked. Now that we don’t have the debt, we want to make sure our old spending habits don’t creep back into our lifestyle. While we aren’t perfect, we are much improved, and I’ll share some observations about our new life on a budget.

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