Comments on: expanding your means

By: Why Playing Financial Defense Is A Sucker’s Game

Why Playing Financial Defense Is A Sucker’s Game — Tue, 22 Dec 2009 07:15:03 +0000

[...] can expect to meet a similar fate. Steve at Brip Blap has often written about the importance of expanding your means, and I agree with [...]

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By: writerscoin

writerscoin — Mon, 07 Dec 2009 08:23:04 +0000

Great point Steve, but I think the reason why this is so far beyond most people is that they can't even get to the “live within your means.” So expanding their means isn't even in their consciousness. And if they somehow managed to do it, you know what they'd do? They'd go out and buy Wiis (guilty), Kindles, and iPhones with the money instead of reinvesting.

By: writerscoin

writerscoin — Mon, 07 Dec 2009 01:23:04 +0000

By: Ken

Ken — Sat, 05 Dec 2009 12:41:42 +0000

Good point. We need to see who we can 'increase' to really get ahead. Cutting expenses, while healthy in most cases, will only partially solve the problem LONG TERM.

By: Chad

Chad — Sat, 05 Dec 2009 03:12:27 +0000

I'm kind of on board. No reason not to try and find alternative income sources. Also, no reason not to cut Starbucks lattes for home brewed.

I am still amazed that you like that snake oil salesman Kiyosaki. I amazed because I actually enjoy your blog. I don't think I have found another blogger who likes Kiyosaki I respect.

By: Collette

Collette — Fri, 04 Dec 2009 01:07:08 +0000

This hit home for me, have linked you in my own blog as I quitting soda altogether is one of my New Years resolutions. You are an inspiration (and not just cause you beat the soda fiend )

By: thriftyapp

thriftyapp — Thu, 03 Dec 2009 14:31:01 +0000

This is flawed. I agree that increasing your means is helpful if not critical for financial success but you're wrong about saving.

Saving $5 isn't necessarily once and done. For expenses you continue to incur; utilties, food, etc.; saving $5 can be replicated over and over again.

Also, if one person saves $5 and another makes $5 every month, who is better off? The saver since the person who made $5 has to pay taxes on income.

By: Early Retirement Extreme

Early Retirement Extreme — Wed, 02 Dec 2009 23:39:41 +0000

The real constraint is that most people think of wealth in terms of money. However, what if you could get the same utility for $10 less. How much would that be worth? What if you could get twice the utility for $20 less? That would be worth four times as much. Go that way and focus less thinking in terms of monetary transactions.

By: ctreit

ctreit — Tue, 01 Dec 2009 00:58:13 +0000

You could also say that most of us would rather make more money. The fact is though that our expenses have a way of increasing with our incomes. Very few incomes are ever enough. If you live your life on the expectation of an ever increasing income, chances are that you will end up in pretty heavy debt. – I know plenty of people who have modest incomes, who live very well, and who are very content with their lives. I don't know why they should change their lives around or why they would want to follow Kiyosaki's grand vision. What would these people gain?

By: Akemi Gaines

Akemi Gaines — Mon, 30 Nov 2009 18:46:27 +0000

I love this!
It's true, the majority of people are conditioned to cut expenses rather than brainstorm to create additional income source. The problem of this approach is 1) It makes life lean -- like, miserably lean, just a few steps before (mental) starvation 2) It kills our innate creativity.

Steve, I just released a new eBook on self-employment. It's completely FREE (no email or anything required). I think you like it. Check it out on my blog.

Blessings,
Akemi