No. of Recommendations: 2
Now if someone wants to make a rational argument for why LBYM shouldn't be defined that way, I'll listen.

OK. I'll take a shot at it.

I'm going to start off by saying that I don't read every post on this board - far from it. I'd say I browse the more recommended posts and the threads those are in. So I'm not going to say I am an expert on this board.

But my limited observations seem to tell me that the term LBYM is more than just a mechanical calculation of assets, liabilities, income and expenses. It's carries value judgements along with it.

Those who LBYM are good people. They are responsible. They are doing the right thing. They are worthy of respect. Carried to an excess, they do no wrong financially, they only make correct decisions, they are the pillars of our community.

Those who Live Above Their Means are the bad people. They need to be corrected. They must change their ways. The are headed to ruin, and are the leeches of society. If they won't take the advice of the good LBYM people and amend their ways, they deserve what they get.

Am I making a bit of a caricature out of these descriptions? Of course. Caricature is based on truth, making the truth larger than life so it will be more visible.

But I hope you get my point. There is more going on than just running the numbers when you say someone is or isn't LBYM.

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