No Means Yes in the road towards Financial Independence. What do I mean by that “No Means Yes” stuff?
By saying “No” to spending above my means and not buying junk, I say “Yes” to financial future by saving and investing.
The path to financial security is paved with “No”
To achieve financial freedom, I have said No to many things. There are people, places, and things I have said No to so that I spend less. There are endless temptations, distractions, possibilities, opportunities to spend money. There are many more opportunities to spend money than I have resources. Therefore, I must determine which to say No to and which to say Yes.
It is in these decisions, these determinations, that my path is chosen. I can choose over-spending and thereby get into debt and financial enslavement, or I can choose freedom and independence by selecting to put my money into savings and investment.
The Amount of Money Matters
A higher salary affords the opportunity to use some of that income for savings and investment. However, higher salaries usually mean higher spending. We feel we need rewards, we feel we need to live in a home that reflects our status, we feel we need to be seen at a certain level in life. Whatever the justifications, we end up spending more when we have a higher income. That is a dangerous condition.
A lower salary means we struggle to keep our heads above water. We are usually not in danger of an inflated view of our status is life. On the contrary, we are battling to survive financially. We often feel no room to maneuver, no room to cut expenses.
Not Just Less, But Also More
While most admonitions regarding frugality extol spending less, the other side of the coin is as equally important: earning more. When I was just starting out, I was in despair at my financial situation. I thought I had so little, and was daunted at the seeming riches available to some others. Now I know better: the world is not “fair.” But I can do my best to make myself better. There is plenty of disappointment available if I chose to wallow in it. There is enough fear to last a lifetime if I choose to let it run my life.
One Step At A Time
It is all too easy to be overwhelmed with the world and let it overcome me. Fear, disappointment, and so on. But if I put one foot in front of the other, do the right thing, then it is possible to live successfully.
The Way I Look At It
“Less now, more later.” That is the understanding I use to explain to myself how to handle spending less so I can save and invest. It works for me.
The Most Important Thing
What is it? What is the most important thing? Everyone has a lifetime to understand what their most important thing is. For me, it is peace of mind.
What works for you? What is important to you? Comment here.
The drawing of a beast is from “Book of Hours” attributed to an artist of the Ghent-Bruges school and dating from the late 15th century. Courtesy Beinecke Rare Book & Manuscript Library at Yale University.
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