ACCOUNTING FOR LIVING 6

I’ve always maintained that accounting is also for business. It’s concepts, relationships among accounts, system of balances are applicable in almost anything in life.

Accounting Solver presents a Balance Sheet for Living:

Keeping up with the Joneses is a great contributor to Stress. It pushes you into Conspicuous Consumption (e.g., a gas-guzzler luxury car instead of a cost-efficient model, designer clothes, etc) –which increases your Bills & Obligations and makes for great Stress.

The Joneses probably have more than $10,000 in unpaid credit card bills for which they are paying as much as 30% in interest & penalties, live in a house too large for them and very expensive to maintain, are behind in their mortgage payments & are about to be foreclosed, and are bankrupt.

image from Microsoft Clipart, graphics by Ren Garcia