Margin is an alternative way to communicate “space.” Remember when the English teacher ruined your life by announcing that you must hand write a two page composition? She would say, “Be sure to avoid writing in the “margins.” In other words, it was important to maintain appropriate spacing. The same is true for your finances. Financial margin creates space in your life. During this series, I’ll be focusing on the real and emotional effects of living WITH and WITHOUT financial margin. Ready?
PART ONE – LESS STRESS
PART TWO – FREEDOM
PART THREE – IMPROVED RELATIONSHIPS
PART FOUR – FILL UP THE TANK
There are so many benefits to having financial margin, but one of the greatest is the ability to just “fill up the tank.” Let me explain.
When there is no financial margin, it may not be possible to drive to the gas pump and fill up the gas tank. Lack of margin means that one has to put $16 in one time and $37 the next. Whatever money is available goes into the gas tank. This can be very costly – especially in time costs!
When you are not filling up the tank every time, you lose time because:
- You have to fill up more often
- You have to waste time figuring out how much can be spent this time
For many people, it also costs more money because more visits to the gas station equal more trips into the convenience store to buy super-overpriced soda and snacks!
When you have margin, you can just “fill up the tank.”
Here are other ways this applies to having financial margin:
- You can buy the proven name-brand appliance instead of the el-cheapo model
- You are in the position of power so you are not subject to obtaining financing and buying the junk they are trying to sell you
- Pawning, short-term financing, and other highly expensive ways to obtain money become completely unnecessary
To me, the sacrifices to obtain financial margin are worth it just to “fill up the tank” every time!
Looking for more information on creating financial margin? Check out this resource (HERE).