Home
>
Personal Finance
>
More Money? My Cup Runneth Over...But Im Still Thirsty

town car ride to ohare Marengo Park Ridge taxi to Midway Naperville south of 95 limo Midway Lincoln Stretch limo rentals Deerfield travel from O'Hare Carpentersville .. Drug testing

More Money? My Cup Runneth Over...But Im Still Thirsty

Most of us, especially those of us who have debtor's disease (if you have it you know what it is!), have commented or at least thought, "If I could just win the lottery, or sweepstakes, everything would be better." Unfortunately, even if that big dream did come true things probably would get worse instead of better.

It's a strange phenomenon. It seems the more money you have, the more you need. It makes perfect sense. Given more money, most people would increase their standard of living. My question is, "If you haven't properly managed the money you have now, how do you expect that you'll be able to properly manage two, three, four, five or hundreds of thousands times more money?" A good question, huh? Food for thought. Maybe you need to start learning to properly manage what you have now while it's on a much smaller scale. Then you'll be prepared when that big lottery win, or sweepstakes, comes through!

Now you may think this is a crazy, nonsense theory. Surely a million is enough for anyone to be on easy street! I'm sure you have at some time heard rumor about people who fall into great wealth by some means or another, and just a short time later are back where they started or in even worse financial condition. Many of these instances end in bankruptcy.

Not convinced? Let me tell you about my own, smaller scale, experience with this strange phenomenon. Once upon a time, I was a single parent raising four children on an income of just under $20,000 per year. My children did not do without, and while I did begin my journey into debtors demise during this time, I had everything under control. Or so I thought.

By my understanding now, I certainly was not managing my money well. I was not properly preparing for variable expenses or emergency expenses that were sure to arise. Thank goodness for a great family infrastructure that gave help and support when needed! My monthly payments were well within my income, including debt payments. I monitored my debt to be sure I maintained a comfortable debt to income ratio. I felt that I had the proper perspective on my finances.

It was not until the household income increased due to marriage that I somehow lost that perspective and my real problems began. I blame a good deal of this accelerating financial ruin to "over confidence." This "over confidence" lead to an arrogant disregard of proper money management. Looking back, you know hind sight is 20/20, if I knew then what I know now, I would be way ahead of the game!

Since my new husband earned more than twice the income I had, I quit work to become a stay at home mom. I've been working since I was fourteen years old (and I'm no spring chicken now) so when he expressed the desire for me to stay at home with the kids, I jumped on it! But, this was not a contributing factor to my financial demise. It was the mindset I acquired when the household income increased.

My mindset was this, "If I took care of a family of five on my near poverty level income, surely I have no financial worries now." Life was good! At least for a while. Our standard of living changed of course. Typically, my cup runneth over??and I thirsted for more. Now we could afford to charge those things we "needed?" (I question it because, my definition of this word has greatly changed) and wanted without fear. I had that fear before. The fear of not being able to pay back the debt. I believe that's why I kept it under strict control. With that fear now gone and a new sense of false security replacing it??..debtor's demise set in quickly.

Before I knew it we were living paycheck to paycheck. Sometimes, I even found myself juggling funds around to make the budget balance. It didn't seem like so much money any more. I can laugh at myself now that I understand exactly how it happened. That delusion of grandeur mindset I had let little ol' me fall into. After all my research, I now know that I am not unlike millions of other people in this world. It's an easy mindset to get into. This is why more money will never make everything better until you learn to manage first and then spend.

Your best preparation for that big winning day is to start planning now. Even if that big money dream never comes true, you may be surprised what a little forethought and planning can accomplish. A good debt free spending plan and monthly budget that encourage frugal living will, at the very least, provide you with more financial security and independence.

Why heck, if you're young enough, you can plan your way into millionaire status. It can be done. It has been done! It's the guy next door who you may not even be aware classifies as a millionaire. He or she probably doesn't brag about it, and their lifestyle doesn't hint of it. But I bet that's one happy, stress free, millionaire who has everything he needs and wants. He's probably just about the nicest person you ever want to meet. Simply because he manages his money and refuses to let his money manage him!

So what are you waiting for? Quit wishing for more money and make a plan to manage and take control of what money you have!

Good Luck and Success

Live Debt Free to Be Free. You Deserve It!

Cheryl Johnson is a mother of four helping herself and others become and stay debt free. Publisher of Simple Debt Free Living at http://www.simpledebtfreeliving.com - A self-help plan, ideas, and resources for debt management, household budget planning, frugal and debt free living, and extra income opportunities Money Saving tips to maximize savings everyday, reduce expenses, and encourage debt free living.

limousine chicago service

In The News:

The Boy Scouts of America is trying to recruit a new generation of kids to join its troops with high-energy, high-tech activities that include thrill-inducing zip lines at a new adventure camp, apps and a television show.

The next iPhone or iPad from Apple is surely around the corner, and Google is getting into everything from cloud computing to car making. But what the cards hold for $100 billion behemoth Facebook is far from clear, experts say.

Rumors of the hairy humanoid known variously as the yeti, bigfoot and sasquatch have persisted for decades. Now scientists are hoping to make more of a case for the creature -- with the help of genetic testing, Reuters reported.

Scotty has finally been beamed up. The ashes of the actor James Doohan, who played Scotty on the 1960s television series "Star Trek," were launched to space this morning (May 22) on a SpaceX Falcon 9 rocket.

Cows are a red herring. The most dangerous potential source for methane release lies underneath thinning permafrost and glaciers in the Arctic. Ecologists have just mapped the seeps where methane is bubbling up, and they found more than 150,000 of them.

At a time when black magic was relatively common, two curses involving snakes were cast, one targeting a senator and the other an animal doctor, says a Spanish researcher who has just deciphered the 1,600-year-old curses.

Presidents Barack Obama and Bill Clinton, U2 frontman Bono and more honored the memory of late Apple founder Steve Jobs Monday in New York City at the 16th annual Webby Awards.

Humans' close relationship to dogs has so far obscured their history so much that it's not yet possible to use genetic data to tease out the details of their domestication, new research indicates.

A Jurassic mom's almost certainly painful death is perfectly preserved in a rare fossil skeleton, one of the many unique items that will go on display in the Houston Museum of Natural Science's $85 million dinosaur hall when it opens to the public June 2. We take a first peek at the exhibit.

A Jurassic Mom's almost certainly painful death is perfectly preserved in a rare fossil skeleton, one of the many unique items that will go on display in the Houston Museum of Natural Science's $85 million dinosaur hall when it opens to the public June 2.

The rise of Kickstarter's crowdsourcing platform means consumers can now vote with their dollars, investing in unique new projects that they believe in, from smartphone watches designed from e-paper to coffee joulies that keep your drink at the perfect temperature. Here are the 12 most funded design projects.

Jodie Foster may have seen proof of alien lands in the 1997 Robert Zemeckis film "Contact," but the real life astronomer the filmmakers based their sci-fi odyssey on didn't find so much as a tentacle.

A first-of-its-kind commercial supply ship rocketed toward the International Space Station following a successful liftoff early Tuesday, opening a new era of dollar-driven spaceflight.

Many scientists say it's just a matter of time before we find evidence it exists, and now, anyone can get in on the hunt -- as long as they have a computer.

The private rocket company SpaceX is officially "go" to make a second try at launching its unmanned Dragon capsule early Tuesday, May 22, from Florida's Space Coast.

The Supreme Court refused Monday to hear an appeal from a Boston University student who was slapped with a $675,000 penalty for illegally downloading 31 songs and sharing them on the internet.

The European Union has given Google "a matter of weeks" to propose remedies to antitrust concerns arising from its alleged dominant position in the online search market.

A Maryland student was awarded the top prize at the Intel International Science and Engineering Fair on Friday for developing a urine and blood test that detects pancreatic cancer with 90 percent accuracy.

Microsoft recently announced plans to strip the Windows interface to its basics -- flattening surfaces, removing reflections, and scaling back distractions. Here's a brief look at the Windows interface over its 27-year history -- and how it will look tomorrow.

Microsoft's So.cl social network opened to the public at large this weekend. The experimental research project combines social networking and search, the company said -- and the company swears it's not meant to compete with Google+ or Facebook.

More Money? My Cup Runneth Over...But Im Still Thirsty

Personal Finance Personal Finance