Jim,

Dr. James Dobson hits the nail on the head when he speaks to the essential ingredient for financial health: “Since we have limited resources and unlimited choices, the only way to get ahead financially is to deny ourselves some of the things we want. If we don’t have the discipline to do that, then we will always be in debt. Remember too that unless you spend less than you earn, no amount of income will be enough. That’s why some people receive salary increases and soon find themselves even deeper in debt....

“Consider the finances of the United States government, for example. It extracts more than a trillion dollars annually from American taxpayers. That’s a thousand billion bucks! But our congress spends hundreds of billions more than that. The point is inescapable: Whether it be within the government or a private individual, there must be a willingness to deny short-term gratification and to live within one's means. It isn’t easy, but it pays big dividends at maturity.” (James Dobson and Ron Blue, Four Guidelines for Money Management, www.family.org .)

Quick Cents Application Points:

1. How do you feel about being challenged to live within your means?
2. Discuss the areas in which you have the greatest difficulty denying yourself what you want.
3. Are you living within your means? If not, what can you do to scale your spending back so that you are living within your means?