Is it ever, under any circumstances, okay to live beyond your means?

« Back to Previous Page
0
0
Marked as spam
Posted by Ryan Lockman (MONEY FORUMS: 4, Answers: 2)
Asked on April 10, 2016 9:26 pm
73 views
0
Private answer

Living beyond your means is taking a huge risk and generally living beyond your means is taking risks over and over again. It’s an enormous amount of work to climb out of a hole. It’s a much more rewarding and less stressful experience to just save your money for that special thing, vacation or whatever it may be.

Marked as spam
Posted by Chanel Rhodes (MONEY FORUMS: 1, Answers: 1)
Answered: April 13, 2016 1:59 pm
0
Private answer

I would say in general it is not a smart idea to lie beyond your means. I agree with Hannah in that sometimes it is justifies. Living beyond your means can create a big mess if you were to become unemployed or for some reason have to take off from work (get injured, sick, etc). If you didnt plan ahead of time and save up money you could put serious financial stress on your family.

Marked as spam
Posted by Scott Rivlin (MONEY FORUMS: 4, Answers: 7)
Answered: April 11, 2016 4:14 pm
0
Private answer

People live beyond their means all the time, so its definitely okay, but its not often beneficial unless you’ve got a plan.

For example, a person may choose to forgo a salary for a year or two as they try to start a business, and they may even go into debt during that time. Hopefully in that case the risk will pay off.

Another example might be if a teen mom decides to keep her child even if she doesn’t have the means to afford a kid. It’s not a great financial plan, but love makes it a really worthwhile bad plan.

Marked as spam
Posted by Hannah Rounds (MONEY FORUMS: 1, Answers: 54)
Answered: April 11, 2016 3:33 pm
« Back to Previous Page