| Sargent & Lundy Savings Investment Plan |
| YOUR GOALS VS YOUR SPENDING HABITS |
| The following excerpts are from an article in the Fall
1998 issue of "Family Money" magazine. The opinions expressed
by the author, Kathy Kristof, may or may not reflect those of the SIP Committee.
Why is it that some people can live within their means - no matter how modest - while others can't seem to live on $100,000-plus incomes without borrowing to the hilt? The answer lies in setting goals. People who are good about living within their means tend to have a clear idea of what's precious to them and a plan that will help them obtain those things, be they products or concepts. Because they have a big goal in mind, they don't mind passing up the constant barrage of spending opportunities that often nab folks. And they don't worry about keeping up with the Joneses. People who earn a good wage but can't live on it tend to see what they want and buy it without reflecting enough about the choices. For instance, if you buy an expensive house that you can barely afford, you've chosen to ramp up your career stress. After all, you'll have to maintain a good income to keep that house. In fact, you might even need two incomes, or a raise. If you want to live within your means, begin by figuring out what you
want, both now and in the future. Then look at the choices you'll have
to make. Are you willing to work more to get more? Are you willing to work
more now for the ability to work less in the future? Once you've settled
these questions, living on what you earn gets easier. |
This page updated on 9/14/98