Get Sufficient Income - concept #8
If you don't have sufficient income, it's worse than having irregular income. So, make certain that your employment, small business activities or investments will provide you with enough money to do the things you need and want to do, and provide you with sufficient cushion for the unexpected.
Having almost enough money to meet your needs is still inadequate and troublesome, no matter how close it comes.
Money is like rain. A little sprinkle is encouraging, but not much help. An inch or more is sufficient, if you get it regularly. A downpour can often be wasted if you aren't prepared to catch it for use later on.
Remember, money provides you with options. More money will of course provide you with additional and expanded options, so you want to make certain that you are earning sufficient income since you'll want to enjoy a continuous flow of options throughout your life.
If you recall the issue of wealth accumulation in money management, you'll remember that wealth accumulates much faster when you couple higher savings with higher earnings. That's because the higher earnings allow you to put more money into savings and still feel comfortable about it.
I've known individuals that have been "under-employed" for many years, and not by choice, yet they continue on that way year after year. These folks just don't understand the money game all that well. The idea is to play the game, not be played by it.
If you find yourself with income that isn't sufficient, then you'll need to do something about it so you can get back in the game with the rest of the folks that are playing with adequate sources of income. You can't expect to play Monopoly for very long if your only income is the $200 you get from passing go.
Eventually, the rest of the players will bump you out of the game with the "rent" on their properties. Remember, money gives you options, so don't paint yourself in the corner with limited income. That's the equivalent of being "benched" in the money game.
Done with Sufficient Income, back to The Money Game