Developing Contentment

“He is the richest who is content with the least.” Socrates

Contentment is the art of being satisfied with what you have. Make a radical commitment of gratitude and thankfulness for what you already have. Anything that appreciates (or is appreciated) goes up in value.

Step up to the challenge of getting debt free and living within your means. Test and see that buying less and paying cash for incidentals of life will help get back the true meaning of living.

Challenge your spending habits. On a scale of 1-10, will you use it? How often will you use it? It is of value to you? Can you afford it? Budgeting focuses on lack and attracts spending. Focus on savings; see the challenge of getting a bargain. Let the savings feeling supersede the spending feeling.

Use wisdom in planning and in spending. Be frugal; shop for bargains and sales. Time is currency. Are you willing to trade time with your family – which you can never get back – for time spend to get money to buy stuff.

Anything worth anything takes discipline. Most Americans put spending ahead of savings yet saving is what builds security. Spending patterns account for your future. Living within your income = happiness. Living outside your income = misery.

Develop a healthy respect for “Just $1.00”. Depending on your income tax bracket, you have to earn more than $1.00 to replace the $1.00. Fifteen percent bracket repays $1.41; 28% = $1.73; $31% = $1.82; 36% = $2.01; $39% = $2.16. When you spend, you are spending more than $1.00. When you save, you are saving more than $1.00.

Stop creating new debt. Credit cards cost you money. Even if you pay them off every month you are tricked into buying more than if you paid cash or check and actually saw it come out of the account. There is no such thing as a free lunch, i.e. earn cash back, airline tickets, vehicle, etc. Credit card users spend 212% more with plastic than with cash; it gives a false sense of having more money than you do. Opportunity costs. Do not be suckered into the “monthly payment” trap.

Number one cause of financial failure: THE INABILITY TO DELAY GRATIFICATION
Number one means of failure to delay gratification: CREDIT CARDS

Use your natural creativity. Remember, necessity is the mother of invention. Get control of your spending (and greed) and see how elimination promotes fulfillment.

I'd love to hear your insights.