Comments on: Should You Focus On Spending Less Or Earning More?

By: Check out the latest carnival - Blunt Money

Check out the latest carnival - Blunt Money — Mon, 05 Feb 2007 14:59:08 +0000

[...] Not Made of Money wonders, should you focus on spending less or earning more? [...]

By: Paul

Paul — Mon, 05 Feb 2007 14:52:16 +0000

Depends on whether you have a prosperity consciousness or a scarcity consciousness. People that think the pie is fixed will focus on the latter, while others will seek the former. And a better job is not the only way to increase income. Of course, no matter what, if you live slightly below your income, you will always be better off.

http://extremeperspective.blogspot.com/2006/12/prosperity-or-scarcity.html

http://extremeperspective.blogspot.com/2007/01/is-generating-wealth-obligation.html

By: Golbguru

Golbguru — Fri, 02 Feb 2007 10:04:56 +0000

The way I see it, earning more seems more proactive…and spending less seems more reactive…When you earn more, you have more flexibility..you could very well save more too, but even if you don’t save more, you still won’t be in trouble (within reasonable limits). Even if you don’t save more, at least you would be enjoying a better life (hopefully, assuming you spend that money on sensible things).

If earning doesn’t increase, then the only option is to save less.

Having said that, it’s not easy to be proactive all the time (for example its not easy to just say “ok I will get a higher paying job”)..that will keep you on your toes and constantly under stress. It is tough…but it pays dividends

By: Not Made Of Money

Not Made Of Money — Fri, 02 Feb 2007 09:49:57 +0000

Meredith,

Thanks for your comment! Sounds like we have similar lives…my job is also saving more by spending less.

Dana