Spend Too Much – or Earn Too Little?

I'm not one for psycho-babble when it comes to money (i.e. "respect your money and it will respect you"), so I hesitated on posting on this topic. But I couldn't help but comment on this piece.

The main part of the article is from a new book that talks about "underearners" and how they can have a richer life. Here are the points I want to highlight:

Stanny said underearners' lives are anything but sane or mindful. Most live in financial chaos, battling with debt or living paycheck to paycheck even if they're making what other people would consider to be good money. They unconsciously sabotage their own progress with frivolous spending, procrastination or by failing to focus on what can get them ahead.

An underearner may work two or even three jobs without getting his head above water, yet still insist he couldn't earn more because it would involve working too hard. "But no one," Stanny said, "works harder than an underearner."

I can already tell that I'd hate this book. Too much "you're not making enough" and not enough "get your spending under control." But if you're in the mood for a bunch of "I deserve more" and "see it and you'll get it" sort of financial advice, this will likely be your cup of tea.

Comments

[John MacKenzie ( Adult ADD and Money)]

Reduced spending is a byproduct of respecting your money and your worth. Once you have an idea of what you are truly worth you won't be as likely to sabatoge your savings plan.

[Yaneth Castillo]

i have a lot of debt and I want to get read of my bills but I really do not how to manage my money. Any ideas of how I can eliminate my spending.
I am single have no kids.Please help give me ideas

[FMF]

Yaneth --

For getting out of debt, read the debt category I have. Start here and scroll down:

http://www.freemoneyfinance.com/debt/index.html

To save money, do the same with this link:

http://www.freemoneyfinance.com/saving_money/index.html

Finally, here are a couple good overall pieces on getting on track financially:

http://www.freemoneyfinance.com/2006/05/free_money_fina_10.html

http://www.freemoneyfinance.com/2006/05/over_onequarter.html