A nice short article on the Wall Street Journal on why living below your means and building up a nice nest egg is so important.
I’ve always asserted that wealth to me personally, is the freedom to do what you want, when you want and not to be held down by the your financial situation. For example, staying in a job you hate because you can’t afford a lower paying job that you might actually love.
If you’re locked into an expensive lifestyle, you won’t just suffer financial stress. You may also find it tough to lead the life you want. What is wealth? To me, it isn’t a particular sum of money. Rather, it’s the freedom to spend your days doing what you’re passionate about and what you think is important.
Love your job and earn enough to cover your living expense. Even if you don’t have much money in the bank, you should consider yourself rich, because you get to spend your days doing what you enjoy.