I was reading an article on MSN this morning about housing prices nationwide and how the economic slump has affected all classes even the wealthy. This one statement jumped out at me:
In Denver:"Don't be fooled, Stan and Christine Penton say. Regardless of income, everyone has been hammered by the surge in gas, energy and food prices. They have friends with six-figure incomes whose power has been shut off over late payments." Six figures and they're sitting in the dark????!!!
What???? Ok it's called learning to live within or below your means. Writing a budget, not trying to keep up with the Jones', cutting up the credit cards and not buying your kid every new gadget they just HAVE to have! I don't get this....maybe I'm blind. Certainly, my family and I'm sure yours is having to adjust to higher gas prices (as a buyers agent this is tough to be sure), rising food and energy costs across the board. But when the going gets tough, tough love is needed and we have to curb the spend all now mentality.
My financial advisor is Dave Ramsey. His theme is: Learning how to delay gratification is the truest sign of maturity, financial or otherwise. Isn't that true? Can we live without the Wi or the new clothes or cars. I mean basics, food, shelter, utilities are first on the budget list. Making a six figure income and letting the lights go out is the most ridiculous thing I"ve ever heard.
Let's all keep each other accountable. We don't need...we want...and in these times I think the needs win out.
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