Living in Poverty

They say money can't buy you happiness, but according to the research that is not completely true. Research indicates that money significantly impacts happiness up to a certain income level, where basic needs and security are met. This threshold varies by location but is often around $75,000. This tweet highlights the difficulties of living on the lower end of the income spectrum and how it can affect mental health. 

To Rent or to Buy

The Problem with Renting

There seems to be lots of shame with renting and I think it's valid. Rent has its place but, there are only a few reasons to rent.

1. Missing Down payment - You don’t have enough money for a down payment

2. Travel - You travel lots for work and renting is not financially reasonable

And that's it. 

Budgeting is Uncomfortable

Budgeting is like working out or dieting. It's not meant to be easy. When working out your body grows stronger with weight and resistance. Without resistance you will naturally stay at you baseline not growing stronger or fit. When dieting if you continue to eat at your baseline your weight will not alter. Change takes work. It takes effort. You cannot expect to gain muscle or lose weight without substantial shifts in your day to day life. If it was easy to gain muscle it would not be a billion industry. Constant visits to the gym or adjustment in meals. Budgeting takes similar effort. Everyone has their own baseline on budgeting with their typical spending just like they have their typical eating habits and workout routine or lack thereof. Baselines are comfortable. It is the natural state of all of us. In order to move one’s baseline, serious thought and effort is required. Step one is making a goal just like anything in life. 

Budgeting is like dieting, if you aren’t uncomfortable, you are probably doing it wrong.