Spend Only What You are Willing to Earn

by Bill on January 6, 2012

This morning I spotted a post over at The Simple Dollar in my email. It reminded me of another post I saw awhile ago at another blog I read My Two Dollars. Both were about spending only what you earn. Now while this is good advice, it only goes so far.

Here’s what I mean – someone could look at that and say to themselves how if they earned more, they could spend more. The problem here is this – how much are you willing to earn? How much are you willing to work so your spending power goes up and your debt goes down? We all know (or should be at least aware) that debt reduction is a part of a healthy financial lifestyle. But at the same time, expanding your earning potential also is a part of a healthy financial lifestyle. So how much are you willing to earn?

Here’s another reason I brought this point up. Jana over at Daily Money Shot wrote this post about part-time income. You have 24 hours in a day, and most people only need eight to sleep, so you have 16 hours per day left. No, you don’t have to work at Burger King, Walmart or be a gas pump jockey to earn extra money. But are you using your time effectively? Do you have a hobby, skill or knowledge that could bring in more money – giving you a healthier financial lifestyle?

Another situation I used to see all too often both driving taxis and managing pizza shops – people want the ability to “not feeling up to working” a certain day, but yet whine like a SOB when the money goes down. Yeah, explain that. The local Dollar General around the corner from me has this same problem; employees call off with such little notice you wonder if they are concerned about their paychecks. If you don’t go to work, you can’t spend what you don’t earn.

Along a similar note are the people who want to work only part-time or on a limited basis. No this does not include moms who work part-time, and raise kids; hell they’ve got enough hours filled already. This is the crowd that just doesn’t like getting out of bed, or would rather wait for better opportunities. Then wonder why bigger and better never arrive. It doesn’t arrive because you made no effort to make it happen.

Reducing your debt and increasing your spending ability always helps improve your financial health; but how much are you willing to earn to improve your financial health?

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