It’s not often that one comes across sound, concise advice. So, when I came across the following statement the other day, I took notice:
“Live below your means.”
This advice, writes Dr. Patrick Fagan, was given to a group of professional therapists, but it also translates to families.
“What children need most from their parents is their time. Time given is attention given. In family life and in marriage, time is love. Deliberately ‘living below your means’ affords time for family dinner, for hours with the children, for walks with your spouse, for family gatherings.
‘Live below your means’ is a strategic choice of monumental import that will enrich generations. Children need their parent’s time more than their money. Time together results in affection, confidence, and a great outlook on life and will greatly influence whom they choose to be their spouse. Real wealth is time for what is most important.”
Having grown up in a home where living below our means became a sudden necessity during an extended period of joblessness, I have to agree. Doing without has a way of bringing a family together and reframing what is truly important in life.
Thankfully, not every family will be forced into living on a restricted income. Yet many families desire a closer bond and would be happy if they could set aside extra money for a rainy day, thus making living below one’s means a reasonable and responsible move.
So what are some easy ways families can work together, live below their means, and build meaningful connections with one another? I offer five ideas:
