Originally Posted by Florida Flyer

I think Lab Rat hit the nail on the head when he said:

"Many believe a bigger paycheck or more money is the answer, when in reality they desperately need a simple course in basic personal finance."

Personal Finance is less about how much you make, and more about how much you spend. A previous poster mentioned that after taking a 70% pay cut after a job loss, he still manages to spend less than he brings in (albeit after some major lifestyle adjustments). Although we would all like to earn more money, the reality is that we can become financially independent by saving more/ spending less. Saving is a less sexy topic to talk about than earning more money, but it's equally as important (if not more important) to achieving personal financial independence.

And on another note, I'm bothered by people who think that their job owes them a six figure income, a $500,000 house, 3 cars and a boat immediately after beginning their craft. This is the attitude held by people like the captains LabRat mentioned who makes $200,000+ a year, yet can never seem to get ahead. Living beyond one's means is the single most detrimental pitfall to personal financial independence. Remember that true wealth and financial independence are built over time and as the result of living within one's means...not merely as the result of a $200,000 a year job.

Like financial advisor Dave Ramsey says, "Live like nobody else, so that you can live like nobody else." (i.e. live below your means, so that one day you can reap the rewards of your financial discipline and live very well!)