Saturday, January 31, 2009

The "no spend" rule

Don't spend the money, Hayley. Don't do it.

Stuff is stuff.

You don't need it. So long as you've got clothes on your back and a stick of deodorant, you don't need much else. Stuff needs maintenance. You buy Thing #1 then you need Things 2 through 22 to go with it. And where are you going to keep all this stuff? How many sets of clothes can you really wear? Are any of your earthly possessions really that important? Owning it is not going to change your life, so why bother plunking down the cash when you could spend it on something truly worthwhile? Stuff will just weigh you down.

Loophole: Electronics qualify as stuff, no matter how good of an investment they are. Unfortunately, the same goes notebooks. Food, music, and most books, however, do not!

Saving is smart.

What do you want to do? Go to London? Take your friend out for coffee? Survive college debt free? Put gas in your car? Fund those mission trips without soliciting moneys? Takes money, fool. And ultimately, what's more important: that second pair of Chucks or a present for your mom? Do the math. All you need to do is look at the economy right now. People bought houses and cars and gadgets, leaving themselves with no money to pay the bills, causing debt and credit bubbles. Don't spend above your means. It's that simple. 

Loophole: Obviously, there's a time to spend. Saving for the sake of saving is just as stupid as letting it burn a hole in your pocket. Decide what you're saving for. It's called a budget!

It's the "no spend" rule. The hat was the only exception.

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