Keeping up with the Joneses
I was reminded of the catchphrase when a friend called to confirm that my husband's batchmate tried to commit suicide because of money problems...too common. nothing surprising here. they were keeping up with the Joneses.
I've been wanting to write about Bo Sanchez's "Live Simply" in which he described the principle of living beneath your means. It has become so hard, what with all the consumerism that the West has influenced us with (sinisi na naman sa West!), all the online shopping that lures us into needless acquisition of material things, oh the list is endless.
money is not evil. love of money IS. wanting more and more and more (AND MORE) is never good. but so is spending more, and more, and more (AND MORE), especially beyond your means. i've read a few helpful articles about proper management of finances, being careful not to be miserly while ensuring frugality, there are over a thousand bestsellers on wise financial management, but i think the bottomline is still simplicity. it's not settling. neither is it about being miserly. i still struggle, but Bo challenges us to live simply and ruthlessly save 20% of our income.
20%?!!! Oh dear...Bo must be some radical crazy person who thinks he's better than us. AHA. until i let go and allowed my dear husband (who has 3 shirts that read KURIPOT, all given to him as a gift) to manage the finances. what a relief to know it's possible after all! of course, i had to put off a couple of appliance purchases (which our tiny house really couldn't take more of), a few cute tops (which used to sound like a really, really good deal!), and a lot less of eating out (which has reminded me i love to cook!).
SO. while my husband can't read this LJ entry, this is to thank him, for his mostly annoying comments on how spendthrift i sometimes am. because we are not out of balance with our finances. we have been wise with what God has given us, and we are faithful that He will entrust us with more, so that we can continue to reach out to others.
nerdy facts from Wikipedia:
One area in which "living above one's means" has caused negative social effects is that of credit card usage. In the first quarter of 2002, total credit debt was $660 billion. By 2005, the total credit card debt had increased to $735 billion. Americas' average credit card debt in 2007 was $8400 per household. By the end of 2007, consumer debt in America had risen to $2.5 trillion. According to the Federal Reserve, over 40% of households spend more than they earn.
Another recent example is the 2007 subprime mortgage financial crisis, in which credit was extended to homebuyers who were unable to afford the homes that they were purchasing.
the global financial crisis has got to remind us to keep our finances in tow (wink, wink, wink).
I've been wanting to write about Bo Sanchez's "Live Simply" in which he described the principle of living beneath your means. It has become so hard, what with all the consumerism that the West has influenced us with (sinisi na naman sa West!), all the online shopping that lures us into needless acquisition of material things, oh the list is endless.
money is not evil. love of money IS. wanting more and more and more (AND MORE) is never good. but so is spending more, and more, and more (AND MORE), especially beyond your means. i've read a few helpful articles about proper management of finances, being careful not to be miserly while ensuring frugality, there are over a thousand bestsellers on wise financial management, but i think the bottomline is still simplicity. it's not settling. neither is it about being miserly. i still struggle, but Bo challenges us to live simply and ruthlessly save 20% of our income.
20%?!!! Oh dear...Bo must be some radical crazy person who thinks he's better than us. AHA. until i let go and allowed my dear husband (who has 3 shirts that read KURIPOT, all given to him as a gift) to manage the finances. what a relief to know it's possible after all! of course, i had to put off a couple of appliance purchases (which our tiny house really couldn't take more of), a few cute tops (which used to sound like a really, really good deal!), and a lot less of eating out (which has reminded me i love to cook!).
SO. while my husband can't read this LJ entry, this is to thank him, for his mostly annoying comments on how spendthrift i sometimes am. because we are not out of balance with our finances. we have been wise with what God has given us, and we are faithful that He will entrust us with more, so that we can continue to reach out to others.
nerdy facts from Wikipedia:
One area in which "living above one's means" has caused negative social effects is that of credit card usage. In the first quarter of 2002, total credit debt was $660 billion. By 2005, the total credit card debt had increased to $735 billion. Americas' average credit card debt in 2007 was $8400 per household. By the end of 2007, consumer debt in America had risen to $2.5 trillion. According to the Federal Reserve, over 40% of households spend more than they earn.
Another recent example is the 2007 subprime mortgage financial crisis, in which credit was extended to homebuyers who were unable to afford the homes that they were purchasing.
the global financial crisis has got to remind us to keep our finances in tow (wink, wink, wink).