Imagine throughout the next ten years, you were to maintain the same standard of living, consistently. What would happen?
Well, this law can either work for you or against you. Imagine that you were to lose your job or even worse, lose a loved one. Now, imagine that you maintained the same standard of living. Although your income decreased dramatically, you did not adjust or make new sacrifices. Where would this lead you in five years?
Now, imagine that when an unexpected bonus or tax return came in, you simply ignored it and dropped it into a wealth building account. Or imagine, when an unexpected raise came, you decided not to change your spending habits, but rather maintain the same standard of living. What would happen over your lifetime?
Most people plan for and spend money before it even hits their account. Part of this is based on gratitude and not being content with what we already have. But remember, "To all who have, more will be given, and they will have more than enough." Matthew 13:12 (see also Matthew 25:29, Mark 4:25)
What are your thoughts?
This post was reposted from http://finlit.biz/business/the-standard-of-living-financial-law/, originally written on November 21st, 2013.
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