Be Careful To Live Within Your Means For A Happier Life

You should live within your means because debt is a terrible type of stress.  When you have a large amount of debt you feel as if you are weighed down and can’t enjoy life for worrying over the debt all of the time.

What does it mean to live within your means?  It means that you are not drowning in debt.  It means you are not trying to live in a lifestyle above what your income can cover.  It means that you are content with what you have and that you realize little that is paid for is better than a lot that is not.

It is a good goal to live within your means.  What are some steps you can take to do that?

Don’t make purchases you can’t afford.  This means don’t go looking at brand new cars when you can barely pay the payment on a used one.  Scale back your expectations.  Focus on what feels better, a new car with a huge car payment due you can’t pay or an older car that is paid for.

Stop trying to keep up with the Joneses.  In other words, stop focusing on what others have and appreciate what you have.  Don’t worry about the fact that your sister bought a new house or your best friend just took a fabulous vacation.  Appreciate the fact that you were able to pay all of your bills this month.

Another way to live within your means is keep your income to debt ratio in an affordable amount.  You should have money left over after you pay your bills for the month instead of having month left over at the end of your money.  Put off new purchases until you can fit them into your budget.

Studies show that if you live within your means you are happier and more content so make this a goal of yours.