Live Like No One Else

by Paula Pant on · 7 comments

There's a popular saying in the world of money management: "Live like no one else, so later you can live like no one else."

Sound redundant? What it means is that in order to be prosperous, we must depart from the beaten path. Instead of doing conventional things with your money, do something extraordinary – and you'll see extraordinary results.


Most People : Rack up credit card debt while they're in college. More than 96 percent of graduate students and 70 percent of undergrads have a credit card, and of those, more than 90 percent don't pay the bill in full each month, according to a new study published in the International Journal of Business and Social Science.

Off the Beaten Path : If you can't pay for an item NOW with the cash sitting in your checking account, don't buy it. It's a radical idea.

Most People : Graduate from college and spend every cent from their first real-world paychecks.

Off the Beaten Path : Socking away $5,000 per year ($416 per month) in a Roth IRA at age 22, instead of age 30, will yield you an extra $1.4 million dollars by the time you're 65. That's right: those extra 8 years of investing will net you a cool $1.4 million, if the market performs as it has been and you follow a moderate-growth investing strategy, according to Fidelity's MyPlan.

Remember: the majority of people don't have a million-dollar retirement portfolio. Creating one requires making moves that are off the beaten path.


Most People : Buy more house than they can afford and struggle to make the mortgage payments.

Off the Beaten Path : Buy a smaller home than you can afford, with easy mortgage payments, and invest the additional money on buying rental properties or dollar-cost averaging into the stock market. Alternatively, you could continue to live with roommates even after you're a homeowner, as I do. My roomies pay my mortgage, and I invest the money in buying more rental units.


Most People : Dream about taking risks – perhaps traveling the world or launching a business – but never take the first step.

Off the Beaten Path : Take the first step! A journey of 1,000 steps starts with the first one.

by Paula Pant

Thanks to wise money managing, Paula Pant has traveled to 27 countries, purchased a 99-year-old Victorian home near central Atlanta’s most beautiful park, and has never — ever — had a penny in debt. Her blog, Afford Anything, is based on one radical idea: money should never hinder your dreams.
Paula Pant
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{ 7 comments… read them below or add one }

KCLAnderson (Karen) April 16, 2012 at 7:19 pm

So very true!! And not just as it concerns money…I have found that when I live, work, play, love, like me, the rewards are just as valuable.
KCLAnderson (Karen)´s Last Fabulous Post ..When *I* Was A Kid…My Profile


David Stevens April 17, 2012 at 11:00 pm

Hi Paula,
Money issues aside, I can only live my Life and no one else’s…..don’t compare, live your own Life.
be good to yourself
David Stevens´s Last Fabulous Post ..Goals, Dreams, Longer term Visions…..why they are importantMy Profile


rob white April 18, 2012 at 7:23 am

Wow Paula. I love your practical advice. Million dollor tips, all. And I always like to say that, If it ‘aint’ practical it ‘aint’ spiritual… a successful life journey is a spiritual journey, and a spiritual journey requires practical common sense.
rob white´s Last Fabulous Post ..Spectacular View: How to Fine-Tune Your Failure so You May Enjoy SuccessMy Profile


Dan Black April 18, 2012 at 9:05 pm

Great and true points. In the past my wife and I did not use our money wisely. We have recently gone through the Dave Ramsey plan and are making steps to become debt free so we can save for the future.
Dan Black´s Last Fabulous Post ..The Importance of Personal VisionMy Profile


Galen Pearl April 18, 2012 at 11:04 pm

Great quote. I have often gone off the beaten track, financially and otherwise. I managed to get through undergraduate and law school debt free. I pay off my credit card every month, and my house is paid off.
Galen Pearl´s Last Fabulous Post ..Dog is God Spelled Backwards*My Profile


empowrdlife April 19, 2012 at 1:48 pm

Great advice Paula! Especially about saving as early as possible. The 8th wonder of the world: compound interest! 🙂


Deeone Higgs April 19, 2012 at 2:09 pm

This was great Paula, and so very true. Will Smith has a quote that I’ve come to love that says, “Too many people spend money they haven’t earned, to buy things they don’t want, to impress people they don’t like.”

I used to be a bit horrible when it came to how I spent money, I believed it was because I was raised without much of it coming up. However, I realized that was an excuse I would use to make myself feel better about spending what I didn’t have to spend. Oh but, when we know better, we do better, don’t we? Those lessons have taught me to watch and respect the money I make. And to use wisdom when it comes to spending.

Thanks for sharing these great insights. Cheers!
Deeone Higgs´s Last Fabulous Post ..Taking the Blame Out of Our Decisions and ChoicesMy Profile


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