It comes as no surprise that many Americans are living beyond their financial means. As a result, many struggle just to make ends meet. This can be a result of how people view money. Some get very emotional about their money. Many wealthy individuals I have met over the years describe money as a tool to accomplish something. Here are some reasons to live below your means. 1. Teaching your children. Help them to be better savers and not buy on every impulse. 2. Reach your goals. You cannot reach any financial goal without a savings plan to get there. 3. Being content with what you have. TV advertisers want you to feel life is incomplete without their product. This is something I teach my children.
4. Allows you to give generously. It goes back to you reap what you sow. This holds true to how we give unto others. 5. Builds Confidence. I believe you feel better. 6. Have an Emergency Fund. This is paramount. Life is what happens while we are making plans. Hard times will come but, being prepared will remove a lot of the stress that comes with unexpected events. 7. Saving For Your Future. When is the best time to start saving? 20 years ago. The next best day is today. Hopefully, none of us will work ourselves to death. Retirement will show up faster than we expect. A little preparation can go a long way. 8. Reducing Stress. When financial burdens cannot weigh you down your stress level drops immediately when something hap-pens. I am always glad when something goes wrong and I can say to myself, “I am glad I have that in the bank.”