Posted in Finance

Charles Dickens was right

Charles Dickens wrote David Copperfield in 1850. In it, he introduced a character named Wilkins Micawber. Wilkins said something incredibly wise yet incredibly simple:

Income 20 pounds
Expenses 19 pounds
Result: Happiness

Income 20 pounds
Expenses 21 pounds
Result: Misery

That concept is fundamental to financial management. If your income does not cover your expenses, you will struggle in life whereas if your income does cover your expenses, even by a little bit, you will generally be happy financially.

When I apply that concept to my own life, I realize that I either have to earn more income or reduce my expenses when I am not in balance. The key is to make more or spend less.

Charles Dickens was right!

Author:

Norma Walton is an entrepreneur, mother, wife, friend and sister. When she is not working, Norma Walton – who is also a full-time mom of four young children in addition to being a real estate entrepreneur – can be found running after her children, trying to fit in a quick walk to the grocery store, or watching her children play hockey at the rink. She enjoys sharing her observations on life as they come to her and tries to always view the glass as half full.

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