What is the difference?
Living an Earning
Most people are living an earning. They get up everyday to head off to a job they don’t care about or even hate. They work hard and get nothing accomplished. There is no sense of satisfaction in their jobs and their careers are going nowhere. They are however, making some money, maybe even enough to survive.
Unfortunately everything they have earned has been spent. They bought the nice car three years ago and traded it in, upside down on another car this year. Their mortgage is greater than their house is worth thanks to the recession. Although it probably would have only been a break even proposition without the recession.
What they do earn, for the foreseeable future, is also spent not just on the mortgage and their new upside down car but also on the credit cards, revolving accounts and student loans. They are in debt up to their eyeballs and they know it, but they have no idea how long it will take to climb out.
They are working for a wage that will only sustain a long, slow decline deeper into the abyss of debt.
Earning a Living
There are also people that are earning a living. They make enough to at least survive while some even thrive. These are the people that take a few minutes with each purchase decision to consider the impact it will have not just on their checking balance today but also on their financial future.
These are the people that realize there is always room for improvement, opportunities to reduce their expenses and the possibility to increase their income. When you are earning a living you recognize that the dollars earned today are not just to cover today’s expense but the costs you will incur in the future.
People that are earning a living recognize that they must spend less than the earn so there is always some earning left that goes towards a future free of financial worries, a future more likely to involved retirement and relaxation.
Which are You Doing?
If you are among the former it is time to switch sides. Come over to the side of fiscal responsibility, debt elimination and wealth creation. There is not magic pill or get rich quick scheme to take or buy there is only a change of lifestyle. You must be willing to sacrifice a little each day so that you will have the opportunity to enjoy tomorrow.
Are you among the latter? If you are already among those that are earning a living then you are among those that know there is still room for improvement. Are you already doing enough to ensure your future and financial well-being? It may be time to step it up another notch, reduce some unnecessary expenses or increase your income.
So what is it, are you living an earning or earning a living?
More importantly, now that you know, what are you going to do next?
Daily Yakezie Short Carnival
The Curse Of Making Too Much And Not Pursuing Your Dreams By The Financial Samurai
You and the clutter continuum by Simple Life in France
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