Chances are that the level of debt that you have is in direct proportion to your earnings which is exactly where your comfort levels lie – not so much debt to keep you awake every night, but just enough to appreciate life and your hobbies at your maximum level of income. Living your life on the financial edge where an unexpected expense can put you in financial ruin.

It’s at that point that you’ll find yourself walking on a tightrope – and if you don’t change your path, you’re going to wind up coming up short in your financial goals. This is when you need to make sure that you have more money coming in than is going out. That simple rule will either make you or break you financially, depending on whether or not you follow it.

“Making money isn’t hard in itself… What’s hard is to earn it doing something worth devoting one’s life to.”
― Carlos Ruiz Zafón

Your earnings have to be greater than all of your expenses. Once you find yourself at the point of realizing that you’re living above your means, you have two strategies to work with that can get you back on track. One strategy is to reduce your expenses as much as you possibly can and the other is to increase your income.  If you just can’t see yourself living below a certain lifestyle, then your only real option is to increase your income.

Whether you choose to reduce expenses or increase income, or both, the result needs to be that you end up with money left over after all of your expenses are paid. By allowing yourself to have more income above and beyond your total expenses, you’ll be setting yourself up for the financial success you deserve!

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