Balance, Not Deprivation is a section designed for any person. It is about recognizing the danger of being TOO much of a saver. Wow, did I just say that? Yes. As a former tightwad I recognize that aggressive saving isn’t about fiscal responsibility, it’s about fear. This section is about how to enjoy small indulgences for a reasonable price.

It is easy to get in a crisis mentality when creditor are after you. It can also get scary when you see people at your company losing your job…will you be next?

Many people want to run their finances based on emotion. When I feel happy I’ll spend. I’ll buy gifts, get a $4 coffee and an new haircut. Also, some people want to spend when they feel depressed. They think a new outfit will make them feel better when everything is crashing in around them.

Neither hoarding, nor spending is the answer to emotions. The best possible thing is to look at balance. You need to exercise control over your spending during both the peaks and valleys. That means having a budget that you establish when you have a LEVEL head. Then you stick to that budget.

You learn to tell yourself no.

I think that is one of our biggest problems. We want to find a reason to say YES to things we really shouldn’t say yes to. Then we get in panic mode.

If you see your department downsizing then scale back on some of your extras and put the money in savings. Stop using credit cards and look for alternate sources of income. But DON’T stop spending all together because you cannot sustain it forever.

Think of money like eating. You can’t starve yourself, or overeat, forever or you will pay for it in your health. Likewise you can’t save everything [or spend more than you have] or it will affect your financial health. If you realize you’ve gained a few pounds then resist dessert, don’t fast for a week. Do the same with spending. Scale back on what you spend-but don’t stop all together because you’re simply setting yourself up for failure.

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Bio

Tiffany Colter is a passionate freelance writer whose credits include Today’s Christian, Charisma Magazine, Toledo Business Journal, and the Afictionado E-zine. Tenacious in her approach not only to create a great story, but also to mentor other writers, Tiffany can always be found in the presence of a book or laptop. A former world traveler who is fluent in three languages, she strives to reach those who are hurting around her. She enjoys helping others build a strong business and writes a daily marketing blog for writers called the Writing Career Coach and a common-sense money management site, TheBalancedLife.com. Tiffany lives outside Toledo, OH with her husband, a recent cancer survivor, and their four girls.