Why Live Below Your Means Won’t Work For You?

Why Live Below Your Means Won’t Work For You?

The age old and widely acceptable personal finance advise is – Live Below Your Means. It means spend less than you earn. This is the personal finance advise that is widely propagated by the personal finance advisors, gurus and bloggers from all around the world.

But well, Unfortunately, this personal finance advise is no longer effective to ensure financial success. This is because the governments and central banks from all around the world are printing new and new money like hell out of thin air which is causing inflation and hyperinflation and diluting the purchasing power of the existing money in the economy.

Thus, living below your means won’t be practically possible. Once upon a time (Before 1971), this advise was really effective because our money was backed by gold (The Gold Standard). Thus, living below your means and saving money was really worth.

This is because before 1971, saving money means saving gold. But in 1971, the US Government has removed the gold standard and the dollar became the free float currency and after that other countries of the world also removed the gold standard from their money.

Thus, today living below your means and saving money means saving printed paper (Paper money/Modern Money) only which will going down in its value because of the inflation.

Since 1971, the US Dollar has lost almost 90% of its value. And recently in 2007-08, the US Government has printed literally US $ 1.2 Trillion out of thin air. Thus, sooner or later the world will experience the hyperinflation. Your money in your pocket, bank savings accounts, Fixed deposits and Pension plans will become worthless. It will shrink in its purchasing power making you poor.

Living on the pension plan income is now just a dream. Unfortunately (For the Middle class), the rules of money have been changed in 1971. But Fortunately (For the Rich), you can learn the new rules of money very easily and play the game of money like rich and become rich.

Today Living below your means and saving money is one of the most dangerous financial advise that can make you middle class or even poor.

This is because you are saving something (Modern money which is not backed by gold) which is going down in value while to become rich, you will have to save something (Assets) which will go up in its value weather you work or not?

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