Why Your Income Doesn’t Matter

Flickr/milan.boers

Like many people, you’re likely working to pay down a mortgage, a car and some debt, all while keeping the bills paid. As these expenses pile up, it can be hard to save money for emergencies, retirement and your children’s education. Sounding familiar?

But instead of trying to reassess your budget, you conclude: “It’s not that I spend too much, it’s that I don’t make enough money to save!” Um hmm. Granted, it seems a logical conclusion, but it misses a key part of the equation: the money you earn and the money you spend hold equal weight. You see, your budget has two sides: one is indeed income, but focusing on that while ignoring the other (ahem, spending) is like trying to right a boat with a hole in the bottom…by acquiring a bigger bucket! You’re just not fixing the leak. Read the rest of my latest story on GoldenGirlFinance.ca: http://bit.ly/xxXuZ9

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