As articles are written, there may be some words or phrases that you may not know. This page is designed to help define those words and phrases and clear any confusion you may have.
Definitions:
- Means: this specifically relates to your available financial resources. You may see “means” in the context as follows:
- “Living above your means“: You are spending more money than you earn. You are exceeding your financial resources and relying on external sources like credit cards or loans to maintain your lifestyle.
- “Living below your means“: You are spending less money than you earn. You are living within your financial resources and are saving or investing the surplus.