This phrase of living within your means is a very old adage that dates back years ago. As a manner of facts, my parents told me this, my grandmother told me this and I’m sure your parents must have told you the same along the way.

However, after living for over 60 years, I still see more people than I thought I would that is not following this old phrase of wisdom. It puzzles me why some people continue to write checks of “LIFE” that they can’t afford to cash which gets them in trouble. I’m sure that you may know some of these people yourselves because I have run into several of them myself and I feel sorry for them.

Additionally, as this behavior continues year after year they will end up living in a hardship situation and that is not good. What makes this situation worse is that too often this bad financial habit starts to occur in their children’s lives and that is how so many people remain in a difficult financial predicament for years. Once you get into this kind of difficulty, it’s hard as hell to get out of.

Living within your means does not mean that you can’t buy some extravagant things in life, which many of the people who live on the edge complain about.  You just have to be smart at when you choose to spend over your normal budget. As long as you don’t do so too often, you’ll be okay.

I have learned this important lesson about trying to live within my means after making some “DUMB” mistakes myself. However, now that I’m older, I’m so glad that I decided to go back to listening to what my parents told me about living within my means. I have followed this process for years and it is paying off for me and my family.

I have also encouraged my children to do the same. I believe that it’s our responsibility to pass this wisdom of living within your means along to the next generation. In doing so, hopefully, they will not get deep in debt which can stranglehold their lives for years.

Although today’s children listen only to part of what you tell them concerning money-saving tips,  I’m happy to report that my children are following 50% of what I’m telling them. However, I see that they are working diligently to increase this number up to 75% which makes me feel so much better.

I know that if I don’t stay on them about keeping on top of their bills as a way to live their lives, their bills may find a way to fall back on me. And, I don’t know any parent that wants that to happen to them.

So the moral of this article is, you have to start using this process yourselves and you have to also show our next generation that “living within your means” is more than just words, it’s a lifestyle. I can attest to the fact that this process will help you and your family if you choose to do so.

Finally, if you do your part by following what our parents and grandparents told us regarding the same, our precious loved ones coming behind us may have a better life in handling their money manners and that’s the goal “LIVE WITHIN YOUR MEANS”.