Mohan Thulasingam
In the modern world, the pulls and pressures are more for spending whatever one earns. The consumerism and materialism are the main culprits behind this pathetic situation. Even if an individual attempts to rein in the expenditure within the limit of his/her income, the lifestyle of the people in the surroundings would tempt and induce towards wasteful and extravagant expenses.
The aspirations and inspirations are the two vital factors that influence the human lives. The different combinations of these two elements produce the following three lifestyles.
1. Spend less and Save more – Frugal type where money is given importance.
2. Spend more without concern for the future – an Easy-going type that ignores the future, and
3. Spend and Save diligently – the Ideal type caring for the present and future.
The third lifestyle actually means ‘ Live happily within Means.‘ This is applicable for the individual and the government as well. The steps involved in this practical concept are narrated here below.
Aim high. Pursue with a systematic and pragmatic approach. Ambition backed by the right attitude coupled with sincere efforts is desirable, but greed definitely hurts. Work towards the next level sincerely, and Overcome the hurdles and problems patiently. Remember and appreciate the roots and routes that contributed to your growth.
Earn in the legitimate ways. Spend the money, time, power, and materials judiciously to get benefits and assets. Avoid wastes and unwanted expenditures. For example, a person disposed of the car that was less frequently used as the cheap taxi was available on the market. Sold the old furniture and scraps in the household to make money while created more space in his home. Instead of craving for more, managing what is on hand effectively prompts the way for a better future. Set aside a portion of the present income as savings to meet the future and emergent needs. Savings should not be at the cost of health and happiness. Restrict the borrowings to the emergency and the repaying capacity.
Remember to live. Money certainly facilitates but not the end of life. Any right-thinking person would discharge the duties without compromising the joys and pleasures of life. Many people tend to repent later for neglecting the finer moments of life as they remained money-oriented. It’s akin to a situation where two people were busy in bargaining the price for a great painting while a passerby admired the beauty of the artwork. Moreover, help others by sharing whatever is possible as donation, gift, etc.
Human life is a one-time opportunity. Live it fully and usefully.
There are two methods to live within means:
1- Before making purchase, ask yourselves do I need it? (This will easily help you to make discretion between need and want)
2-Procrastinate, i.e. defer the decision whenever you feel tempted to buy impulsively. (This may help you to overcome your impulsive purchases).
Though above two methods are effective but the power of purchasing by credit card and at a click of mouse is very tempting. This weakness is being exploited by the marketing companies. Real test is overcoming this weakness.