Finance And Lifestyle - Are They Interlinked?
Finance And Lifestyle - Are They Interlinked?
When it comes to lifestyle, many debates spark up. Many people
have their own idea of what lifestyle really is. But it is clear
that finance and lifestyle need to co-exist in some form.
In order for you to afford a certain lifestyle, you need to be
in the right financial standing. If your lifestyle consists of
buying the latest fashion, then it is clear that you have or
should have a certain amount of money. If you don't have enough
money to maintain this lifestyle, then you need to stop spending
the money.
If you have a vision of what your ideal lifestyle should be,
then it is time you made your finances fit that reality. No
amount of dreaming will make things come true. There has to be
some form of practicality also, as money can go and debt can
rise.
Do not assume that a certain lifestyle is adequate for you just
because the magazines tell you so. The first thing to do is to
take a look at your finances and see if they will be able to
support the lifestyle depicted by the magazine or your friends.
The common mistake that most people make is that they think they
have more money than they actually have. So they spend more on
their ideal lifestyle just because it is a status symbol.
The philosophy is this: if they see that I am wearing so and so
or driving such and such a car, then they will not see that my
finances are in the red. Finance is the first thing you need to
consider when you opt for a certain lifestyle.
You will only look silly if your financial situation
deteriorates so badly that your house gets repossessed and you
have to file for bankruptcy. Live within your means and your
finance and lifestyle will be able to take care of each other.
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