Financially Poor?

Do you consider yourself financially poor? I do not perceive myself as "financially poor" though I'm sure everyone has their own definition. Each year our income has been dropping for the past 3 years, since hubby's pay has been decreasing with cuts in pay and hours from his job. I'm sure some of our acquaintances might think we are "financially poor", as hubby and I turn down all invitations to go out to the movies, concerts, dinner, lunch, etc with the excuse that it's just not something that we can afford right now. In actuality - can we afford it? - short answer is Yes - do we chose to make the choice of saving our money instead - Yes. Priority for us, is making sure all our bills are paid in full each month, whether it be the mortgage, insurance, electric or credit card.

We have monthly contributions to our Retirement Plans and Emergency Funds automatically deposited. We treat these as bills. Then whatever is left over, can be for the expenses of life. We contribute to the local SPCA/Animal Shelter each month and when we are flush with cash in a month, we try to make an additional contribution to the SPCA/Animal Shelter, above and beyond what we already do.

Do we have lavish amounts of extra cash left over each month - No. But we are secure in knowing our bills are paid and we have savings building up. In fact, most months, we don't have any extra cash for even an extra loaf of bread at the grocery store, but that's okay, our priorities are taken care of. We are definitely not contributing to Consumerism. There are many things we would like to buy, but they are merely wants. So we will not be buying them.

Hubby and I sat down the other day and talked (fantasized) what we would do if we had extra money each month going forward and we were both on the same page, our frugal ways have now become habit and we would just put more into savings for retirement. We wouldn't be out buying the latest fancy gadgets or vehicles. Our minds have made the switch of successfully determining "Needs" vs "Wants".

We have a very simple, yet balanced life, and we are happy together. We have everything we "need". We have made great memories together and will continue to do so in the future.

We probably don't make as much as our peers on an annual basis, but we do have our priorities taken care off and in the end, and that is what matters.

As some financial experts like to say "It's not how much you make, it's what you do with it"