Good morning. I went golfing a while ago with a friend who I know doesn’t earn a lot of money, yet he had a $500 golf set. His driver alone cost over $150. I asked him how many times a year he golfed and he said only once or twice. Once or twice! And yet he thinks he needs to have a top of the line golf set. I mean, come on, if you’re golfing once or twice a year I would think a decent $200 golf set would do just fine.

I have come across a number of people with this same trait. They think they need to have “The Best”. There is nothing inherently wrong with that except these are people that can’t pay their bills each month. Their money picture is all out of balance, meaning, in some areas they are lacking and other areas they have too much. Their house is falling apart or they can’t afford to pay their bills and yet they’ll go out and buy an item and it will be the top of the line or the biggest or the best and of course the most expensive.

Another example is an individual I know who is struggling with money. She went out and bought a brand new $700 computer. Now a $700 computer may not seem like such a big deal to most of you, but I know for a fact that you can purchase a great computer for around $400. I recently got one for my family and it works great and is very powerful. I don’t know what she got for the extra $300 but I guarantee you she doesn’t need it. All she is using her computer for is to access the internet and do simple word processing. But for some reason she was compelled to get “The Best.”

Its purchases like that that baffle me sometimes. Whether it’s a computer or clothes or a car or a camera – if you’ve got the money then go ahead and get the best. But if you don’t have the money you shouldn’t be buying top of the line items.

I’ve never bought a brand new car in my life and I don’t know if I ever will. You can buy great used vehicles for a fraction of the cost of new ones. I pay cash. I don’t go into debt. The car I drive right now is a great car and it didn’t cost much at all. It has all the luxury features, all the bells and whistles, and I’m very happy with it. Mostly I’m happy because it didn’t cost me a dime in interest. I paid for it with a check. It’s a fraction of the cost that many people, who make less money than me, spend on their brand new cars. I can then take that extra money and do fun things like go on a cruise with my wife, which is what I’m doing next week. I would much rather use the money for other things than sinking it into a vehicle or an expensive computer.

The point I’m trying to make is this: If you have the money, great. I don’t have a big problem with you having nice things or even the best things. I do have a problem if you buy those things when you can’t afford it. If you’re struggling and you can barely buy food or clothes for your kids then why do stupid things like buy an expensive car or an expensive computer or an expensive camera that you don’t need? Why do you think you have to have “The Best?” You can get along fine with good quality things. You can be perfectly happy and content without the 72″ big-screen TV – really! Many people do.

The next time you feel compelled to purchase “The Best,” stop and think. Why are you buying it? Are there cheaper models that will do just fine? Can you purchase it used? Can you skip the purchase altogether? Be wise. Think before spending. The best may end up not being the best after all.

Thank you.

Master Yourself, Master Your Life

Copyright © 2009 Gary N. Larson

Affluenza Epidemic

A recent book gave a name to this affliction and in fact is the name of the book. It is entitled Affluenza. In the book affluenza is defined as “a painful, contagious, socially-transmitted condition of overload, debt, anxiety and waste resulting from the dogged pursuit of more.” The book reported that Americans each spend more than $21,000 per year on consumer goods. Our average rate of saving has fallen from about 10 percent of our income in 1980 to zero today. Our credit card indebtedness has tripled in the 1990s and currently equals $2,293 in credit card debt for every man, woman and child in the United States. More people are filing for bankruptcy each year than graduate from college.

Many of us do very well with our finances and manage to stay out of debt and live within our means. However, there are too many that have fallen victim to the affliction of affluenza.

What is the True Source of Happiness?

Let’s think for a moment about happiness and where it comes from. First I want to do a little test to see how well your happiness prediction abilities are working. I want to present two different futures for you to contemplate and think about and then decide which one you would prefer.

The first one is of you winning the lottery to the tune of $100 million.

The second one is of you becoming a paraplegic – of losing the use of your legs and being confined to a wheelchair.

So which future would you choose? You may think that is kind of a stupid question. Of course you would choose winning the lottery – who wouldn’t? A person who wins the lottery would be so much happier than someone becoming a paraplegic. Right?

Strange as it may seem they have actually done studies on these two groups of people. They studied how happy they were one year later after either winning the lottery or of becoming a paraplegic. The fact is that one year later lottery winners and paraplegics are equally as happy with their lives. There is absolutely no difference in their level of happiness.

When I asked a number of people I know where they felt true happiness came from they, mentioned their families, serving others, doing what’s right, being out among nature, and someone even said living within your means. So happiness isn’t found in more and better things. It’s mostly found in the things of life that are entirely free.

Jesus Christ made this statement:

Beware of covetousness, for a man’s life consisteth not in the abundance of the things which he possesseth. (Luke 12:15)

Misery of Debt

When my wife and I were first married I tried to start my own business. After a year of trying to make a go of it we found ourselves deep in debt and behind on all of our bills. It was a horrible experience for us. Every time the phone rang we would hate to answer it for fear it would be a collection agency calling. We had had enough and finally decided we would do everything we could to pay everyone back and get completely out of debt.

We liquidated the business and I got a job making $4.25 an hour. For the next year all of my paychecks went to paying off debts. We lived like church mice. I drove a $250 car. We cancelled our phone. During the winter we heated only one room of our little rental house. There were times when it got so cold that the water in the toilet would literally freeze. It was a long and difficult year that we spent getting out of debt. But it was a glorious day when the last payment was made and we were completely free of financial bondage. It was a hard lesson to learn but we did learn! Today, my dear wife and I are completely debt free and love every minute of it!

Heber J. Grant said:

If there is any one thing that will bring peace and contentment into the human heart, and into the family, it is to live within our means. And if there is any one thing that is grinding and discouraging and disheartening, it is to have debts and obligations that one cannot meet.

Live Within Your Means

What I’m about to say is going to sound old fashioned and out of style. But I know the value of it because I have lived it and know it is true.

I urge each of you to honestly examine your own financial circumstances and determine now to live within your means. Prepare now for the future. Be modest in your expenditures. Save for those things you feel you need. Pay off debts as quickly as you can. Begin saving a little money on a regular basis. I promise you that if you will follow this counsel you will feel more secure and experience greater peace and happiness in your life.

Thank you.

Copyright © 2008 Gary N. Larson