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Living Below Means

Living below means

The article addresses the fact that we as a people lived above our means for long that we don’t know how to cope with the fact that we must now try to live before our means to get ourselves out of this slump.

Bill Bonner, the authors, talks about how the last hit in the recession will be a soft one. This, he feels, is due to the fact that we are experiencing a slow world growth and this will take ease the effect of the commodity prices, and keep inflation low.

We all despise inflation because it makes it seem like the more you earn the less you have.

My thought now due to this article is; Are we as a people capable of living below our means? We have always been accustomed to getting what we want. If we need a car, go get a loan. If we need a house go get a loan. Easy access to cash and capital made American susceptible to a expecting a high standard of living; which realistically they can’t afford. 

Personally I was never brought up to get what I can’t work to achieve physically. I never had to luxury of having cash without physical cash, and by this I mean to say credit and credit cards. My family in Jamaica work for every penny, and I do the same.

So are we capable? Can we get ourselves out this slump by living below our means?

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Categories: Uncategorized
  1. hpaukov1
    November 5, 2009 at 12:07 am

    I grew up on food stamps, and medicade. Today I work hard to live the way that I do which is I think average instead of low income. I am very proud of how far I have come from my child hood. I could live below my means but it would be very hard to adjust and bring myself down. I think that is the problem with expecting people to cut back. The pride people have for what they have today stands in the way of cutting back and saving instead of splurging. I personally have cut back especilly now that its winter in Myrtle Beach.

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