Welcome to the Frequently Asked Question (FAQ) message of the Living Below Your means (LBYM) Discussion Board.

You may find that your question has been asked before. So to save your time we have put together some of the questions that come up regularly.

Q: How do I know whether this is up to date?
A: If you got here via the FAQ link at the top of the message view screen then this is as up to date as we get. However do check for replies. If you just happened across this message while working through every message on the board then it may have been superseded.

Q: What if I have another question which should be in here?
A: Post a reply here and we will consider it for the next version. Thank You.

Q: What is Living Below Your Means all about?
A: A personal choice ;) It means different things to different people. For many, it means making conscious choices to use your money to do/buy things that are important to you. Many of the discussions involve spending less for the things you do choose to buy.

One basic tenet of LBYM is "spend less than you earn". But we all interpret LBYM in our own ways.

Here are some great posts from the board which explore this theme further:

J Kew - What is LBYM?
http://boards.fool.co.uk/Message.asp?id=2040012000001001&sort=id

Petrea - What does LBYM mean?
http://boards.fool.co.uk/Message.asp?id=2040012000332000&sort=id

Petrea - The Penny Jar:
http://boards.fool.co.uk/Message.asp?id=2040012000085000

J. Kew - The Millionaire next Door:
http://boards.fool.co.uk/Message.asp?id=2040012000092000&sort=collapsed

Petrea - Turn Yourself into a Business:
http://boards.fool.co.uk/Message.asp?id=2040012000096000&sort=collapsed

And some examples of LBYM in action:

Clanger32 - Complain about poor service
http://boards.fool.co.uk/Message.asp?id=2040012000367000&sort=id

ma1co1m - Offspring Going to University?
http://boards.fool.co.uk/Message.asp?id=2040012000517000&sort=id

Q. Are there any other related Discussion Boards?
A: Yes - these might be useful to you:

Dealing with Debt
http://boards.fool.co.uk/Messages.asp?id=2040017000000000

Retirement Investing
http://boards.fool.co.uk/Messages.asp?id=2040022000000000

Buying a Car
http://boards.fool.co.uk/Messages.asp?id=2040011000000000

General Insurance
http://boards.fool.co.uk/Messages.asp?id=2040013000000000

Bank Accounts
http://boards.fool.co.uk/Messages.asp?id=2040016000000000

Brokers
http://boards.fool.co.uk/Messages.asp?id=2040007000000000

Mortgages
http://boards.fool.co.uk/Messages.asp?id=2040003000000000

Endowments
http://boards.fool.co.uk/Message.asp?id=2040021000102000

Motorbiking Fools (as a TMF I'm allowed some privileges on FAQ contents! :-) besides it is more economical and road-friendly (and fun) than driving a car
http://boards.fool.co.uk/Messages.asp?
id=2330013000000000

Weight Control
http://boards.fool.co.uk/Messages.asp?id=2360003000000000

Books - Foolish & Financial:
http://boards.fool.co.uk/Messages.asp?id=2050020000000000

and the Personal Finance Archives are also relevant:
http://www.fool.co.uk/personalfinance/personalfinance/2000/pf2000.htm

You may also be interested in some of the boards in the Fool Cafe (for off-topic topics):
http://boards.fool.co.uk/Boards.asp?id=233

and maybe the Fool's Corner Boards:
http://boards.fool.co.uk/Boards.asp?id=2360000000000000

Q: I sometimes see NAE in the messages. What does it mean?
A: It is a convention on the board that we can use the shorthand acronym NAE to indicate that when recommending a service we have no link with that service. It stands for Not Associated or Employed.

You may also come across these acronyms:

AFAIK	As Far As I Know
BTW	By The Way
DYOR    Do Your Own Research
FAQ	Frequently Asked Question
FWIW	For What It's Worth
FYI	For Your Information
HTH     Hope This Helps
IIRC	If I Recall Correctly
IMHO	In My Humble (Honest) Opinion
IMO	In My Opinion
LOL	Laughed Out Loud
LTBH	Long Term Buy & Hold
OT	Off Topic
OTOH	On The Other Hand
P/E	Price/Earnings
PEG	Price/Earnings Growth
ROFL	Rolling On Floor Laughing
TIA	Thanks In Advance
TMF	The Motley Fool

TTFN Tata for now

Keith