Learn to enjoy living within your financial means Published Jan. 27, 2010 By Steve McDaniel Airman and Family Readiness Center KEESLER AFB, Ms. -- Do you think you make enough money right now? How much money would you have to make for it to be "enough?" The fact is most of us will never make "enough" money. We'll always want just a little bit more. It's in our nature and advertisers, fashion magazines, and television reinforce that wish. So, what can you do? Like everyone else, you can play the game of trying to increase your spending power by juggling credit cards, tapping into your home equity, even playing the lottery and hoping to strike it rich. Or, you can learn to enjoy life with the money you make right now. There's nothing wrong with having ambition and wanting to increase your wealth. We should all desire to prosper. What trips most people up is that they increase their cost of living long before they have the means to support that lifestyle. While it may sound daunting, learning to enjoy life while on the path to greater wealth is key to a successful journey. There are four simple steps to get started on the road to enjoying life with the money you are making right now. Abide by the golden rule -- spend less than you make. Did you know that the average American spends $1.22 for every $1.00 they make? With a $50,000 annual income, you'll spend $61,000 that same year. That's $11,000 you have to borrow and pay back, and that doesn't include interest. In short, instead of having any disposable income, all your money is used to pay debts. Get your finances in order. Balance your checkbook regularly -- it's the only way to know where you stand financially.Pay your bills on time. Late fees and bounced checks not only ruin your credit rating and drain you of your money, they provide no benefit. Pay into a savings account. Set up automatic payments into a savings account and decline automatic teller machine access. Make it as inconvenient to tap into and give your money an opportunity to grow. Start a spending account. Just like a savings account, a spending account is disposable income you specifically set aside to spend as you please. Spend money on the things you want. If the Golden Rule and getting your finances in order are the keys to financial success, then learning to spend money on the things you want is the key to financial happiness. Stop spending money on the things you don't want, so you can afford to spend money on the things you do want. The hardest part of controlling your spending is deciding what you truly want and having the discipline and the focus to get it. To make this happen, you need to define your goals and post your goals where you can see them. For instance, if you really want to take a vacation to Italy, tape a note with the word "Italy" on your ATM card, your checkbook and your computer. The next time you go to buy something on impulse, and you see the word "Italy", ask yourself, "Does this purchase get me any closer to my goal?" If the answer is no, then walk away. There's no shame in putting an item back or telling the clerk you changed your mind--that's empowering. Know when to invest and when to bargain. One of the most powerful financial tools is knowing when to invest in an item and when to hunt for bargains. This is largely a matter of personal taste. Common sense leads you to invest in those things that are important to you and bargain hunt for the necessities or luxuries that are less significant. A general guideline is to invest in durable, important items and bargain on disposable, everyday purchases. For example, you might decide to invest in wardrobe basics, furniture and vacations, but find bargains on trendy clothes, groceries, books and movies. Be excited that you are making conscious decisions to obtain the things that are most important to you.