Using your money wisely can pay many dividends for you over time. Learning to spend your money wisely is a habit most people must learn through discipline, it is usually not inbred into a person’s lifestyle. All, or at least most, of today’s advertising is focused on emotional appeal for your money, not logic and common sense. If we can think logically instead of emotionally we will be far better off in almost every situation we find ourselves in, especially financial ones.
We got serious about a self-reliant lifestyle several years ago and this article is designed to give the reader some food for thought, some direction and glimpses of things that worked for us.
One of the first things we had to adapt to was determining a “want” from a “need”, it took a while to develop that mindset, It was not easy and it took discipline, lots of discipline.
The ability to purchase things you need is governed by your own personal cash flow. Remember that cash flows both ways, in and out just like the tide. Our goal was to plug the money leaks in our cash flow pot. We are retired, so we are on a fixed income. Increasing inflation over time has eroded the buying power of everyone’s dollars. This really hits home when you are on a fixed income.