The definition of 'the good life' varies from person to person and sometimes to culture, but few consider poverty a good thing. Knowing how to live a prosperous life is better than hoping to win the lottery or somehow beat the system. There are proven ways to achieve financial and emotional stability.
Some want a lot, while others can be satisfied with food, shelter, and clothing. Those who need status symbols might not aim for the lifestyle of the rich and famous. However, they want a car new enough to be shiny, clothes that reflect this year's fashion, and a house they can show off to friends. Others like driving a car that's paid for, wearing clothes until they wear out, and having a modest home with a mortgage that's not a burden.
For most people in developed countries, it's possible to achieve an adequate lifestyle. Sometimes cultural mores dictate sharing when you personally have more than enough. Native Americans have a tradition of helping less fortunate relatives rather than living ostentatiously. Christians often hold to the teaching that it is more blessed to give than to receive.
In the United States, people generally have more than they need, and the economy has grown dependent on 'conspicuous consumption'. More than half of American economic activity is centered on retail sales and dining out. Of course, when people buy goods and services, it provides employment for others, like waiters, store clerks, and cashiers.
On an individual level, experts say a budget is crucial to good money management. Most of us hate the idea of a strict spending plan, but studies show that this discipline is good for everyone. Fixed expenses come first; what is left over is carefully portioned out. This eliminates impulse buying and restores balance to lifestyles that may be out of whack.
A good budget works. It's amazing how income that appeared to be woefully inadequate can actually leave a bit over for savings. Money management also lessens the major cause of marital discord - fighting over money. If everyone knows what can be spent and how it will be used, there's a whole lot less to argue about.
Avoiding debt is also key. Buying on credit makes every purchase more expensive. Apart from the worry over how to pay monthly bills, and the care needed to make payments on time, spending money that you have to borrow at interest makes no financial sense at all. This is one reason why saving is such a great habit. If emergencies arise, there will be money in the bank to help you cope.
Other things enter in. Christians advocate tithing, saying that God blesses the 90% left in such a way that you are better off after giving than before. Hard work is still a great tool. People who have a good life have often labored hard when young in order to enjoy their golden years. Working to your strengths, investing as you go, understanding tax breaks, and resisting the human craving to have ever more stuff help make dreams come true.
Some want a lot, while others can be satisfied with food, shelter, and clothing. Those who need status symbols might not aim for the lifestyle of the rich and famous. However, they want a car new enough to be shiny, clothes that reflect this year's fashion, and a house they can show off to friends. Others like driving a car that's paid for, wearing clothes until they wear out, and having a modest home with a mortgage that's not a burden.
For most people in developed countries, it's possible to achieve an adequate lifestyle. Sometimes cultural mores dictate sharing when you personally have more than enough. Native Americans have a tradition of helping less fortunate relatives rather than living ostentatiously. Christians often hold to the teaching that it is more blessed to give than to receive.
In the United States, people generally have more than they need, and the economy has grown dependent on 'conspicuous consumption'. More than half of American economic activity is centered on retail sales and dining out. Of course, when people buy goods and services, it provides employment for others, like waiters, store clerks, and cashiers.
On an individual level, experts say a budget is crucial to good money management. Most of us hate the idea of a strict spending plan, but studies show that this discipline is good for everyone. Fixed expenses come first; what is left over is carefully portioned out. This eliminates impulse buying and restores balance to lifestyles that may be out of whack.
A good budget works. It's amazing how income that appeared to be woefully inadequate can actually leave a bit over for savings. Money management also lessens the major cause of marital discord - fighting over money. If everyone knows what can be spent and how it will be used, there's a whole lot less to argue about.
Avoiding debt is also key. Buying on credit makes every purchase more expensive. Apart from the worry over how to pay monthly bills, and the care needed to make payments on time, spending money that you have to borrow at interest makes no financial sense at all. This is one reason why saving is such a great habit. If emergencies arise, there will be money in the bank to help you cope.
Other things enter in. Christians advocate tithing, saying that God blesses the 90% left in such a way that you are better off after giving than before. Hard work is still a great tool. People who have a good life have often labored hard when young in order to enjoy their golden years. Working to your strengths, investing as you go, understanding tax breaks, and resisting the human craving to have ever more stuff help make dreams come true.
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