More or Less?
Free the Cow had a post on the topline vs. bottomline focus of PF bloggers - do you try to earn more, or do you try to spend less?
Both views are have a great deal of truth - to quote Yet Another Blog about Money
What is your most valuable asset? You may be surprised. It isn’t your house, or your 401k, or even your 6-figure balance at Ameritrade (if you’re lucky enough to have one). It is your ability to earn an income. Over the course of your working life, your ability to generate income that can be saved and invested, will determine when you are able to retire, and what the financial quality of your life will be in retirement. No other factor even comes close.
If you want to get rich, focus on increasing your top-line.
And the converse - from What Makes Cents
But the reality of it is, how often do you get a chance to get a raise or a boost in your income. My company gives raises once a year, so I have one opportunity to increase my income. Yes, I know, each work day is a chance to increase my income, but I strive to produce my best work every day anyway. That’s a given.
…
It seems to me there are many more ways to decrease spending than there are to increase income. That’s why we all focus on decreasing spending. So, keep on saving money. And when your chance to increase your income comes around, be sure to get it for all it’s worth.
It’s easier to spend less. It’s more worthwhile to earn more.
But are the two mutually exclusive?
Written by 2cworth on May 16th, 2006 with
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