Earn more, spend less

  • Published
  • By Airman 1st Class Kali L. Gradishar
  • 92nd Air Refueling Wing Public Affairs
FAIRCHILD AIR FORCE BASE, Wash. --  When I heard the comment, "To save money, you must earn more and spend less," I actually laughed a little. I thought that was making things a little over-simple. But it's not.

As silly as the statement may sound, it is, in fact, very true.

We've all probably seen classic examples of the young man in his 20's. He decides he wants a car that attracts attention, so he buys a sports car. He may have a good looking car, yes. But what about those payments? They're over the roof, not to mention the cost of a monthly insurance payment.

So, what the young man ends up with are bills he's struggling to pay and a good-looking car that just sits in the driveway because insurance is too expensive. Surely he would have been much better off buying a lesson expensive, used car that might be a bit less charming, but affordable none the less.

Another classic example is the woman who needs to replace her wardrobe every few months. Pieces of clothing go out of style every season and then it's off to the mall once again with plastic card in hand.

The credit card bills rack up because she has an expensive taste for the name brand stiletto shoes and the imported fine leather hand bags. Pretty soon, she'll be drowning in a sea of debt because she hasn't quite learned that it is unwise to spend more than you have.

Then there are the folks who are going through hard times. An unexpected expense arises and they, too, will fall into debt.

There is hope, of course, in the simple statement made before. "Earn more and spend less."

If you say it out loud, it sounds really easy. It's not. It can be hard, but it can also be necessary.

If at all possible, find a way to get promoted quicker in your career. Or, if it becomes necessary and you can handle the workload, get a second job. Cut back on the amount of money you spend on eating out, movies, clothing and other non-essentials.

Doing so may just take that burden of financial stress off of your shoulders.