Is it time to cut your cloth according to your coat?

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Time is running out for the big spenders.

Job losses, rising prices, and increasing debt are swamping people.

Some people are at their wits end and bursting out in frustration at not knowing how to cut back.

Many family members have made bad decisions in their lives and are now begging for a place to stay and money.

It’s a difficult situation when you’re supporting others who can’t support themselves.

Some people still spend R1,000 on a lunchtime meal, including booze. Sometimes it’s not for two people but for up to R900 for one person.

For many, the boozy lunches are long gone.

People cling to their big houses and big cars even though they are battling to pay off debt.

It’s not easy to do that.

But if you are running into trouble and can see yourself becoming more and more vulnerable, you may be forced to do something about it.

If you’re making a fat income with good prospects, then all of this will mean nothing to you.

What does cut your cloth according to your coat mean?

It means that if you cut your coat according to your cloth, you only buy things that you have sufficient money to pay for.

Sounds simple enough, but many people aren’t up to cutting back.

If you do decide to cut back, you have to make a list of every single expense you incur, including daily, weekly, monthly, and annually. 

Most things can be cut back, even essentials, and luxury items should get the chop.

Cutting back may even mean letting go of motor vehicles and property.

It’s hard to face times like this.

But if you don’t do anything about it, you may be impoverished sooner than you think.


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