“It Is Better to Want Than to Be a Debtor”
We often spend our finances buying what we really, really want. New, larger TV. More beautiful phone. The best clothes. Of course, this habit usually leads to financial hardship, and as the author of the article on money Natalie Bacon notes, “it is better to want than to be in debt.”
Quoting podcaster Andy Stanley, Bacon explains that as hard as it is to want something you can’t afford, it’s even worse to be in debt for something you can’t afford. Discussing the concept of financial margin, Bacon writes:
Instead of living so close to the edge of your cash flow every month, you should say no to more expenses and give yourself more financial gain … Wouldn’t it be nice if things weren’t so stressful every month? Creating financial margin is not easy, but whatever you can do to get closer to financial freedom, you must do …
If you have to go into debt to buy something, don’t buy it. Why? Because it’s better to want than to be in debt.
Of course, there is a lot to be said for what works for you . However, as a rule, most of us need more opportunities in life . Stretching your budget to buy something lowers your financial margin, and getting into debt completely ruins it.
This is a solid mantra to remember the next time you’re tempted to spend money. Tips on how to control your spending can be found in Bacon’s full post at the link below.
Better to want than to be in debt | FinanceGirl