Expansion of Ideas
Cut your Coat According to Your Cloth
If you give a piece of cloth to a tailor to make a coat, the tailor will first measure the cloth and then decide what kind of coat has to be made out of it. He will not be able to make a coat that requires more material than the cloth provided. The same is the case with our income and expenditure. Our expenses should always be within the limits of our income. Otherwise, we are sure to land in debt and difficulties. The proverb thus tells us not to spend more than what we earn i.e. to live within our means.
This proverb applies not only to individuals but also to business establishments. Of course, a company may raise a loan to expand or diversify its business. But it must do so judiciously; otherwise it can even go bankrupt. Even the government of a country has to keep in mind its total resources while spending. If it does not do so and goes on borrowing recklessly from banks and foreign countries, it could result in severe economic problems for the country.
Hence the saying is of great practical value. Applying it in life makes one happy and contented.
Difficult Words and Their Meanings
- Expenditure: The action of spending funds; an amount of money spent.
- Debt: A sum of money that is owed or due.
- Difficulties: Situations that are hard to deal with; problems.
- Proverb: A short, well-known saying stating a general truth or piece of advice.
- Establishments: Businesses or organizations.
- Diversify: To make or become more varied; to branch out.
- Judiciously: With good judgment or sense; wisely.
- Bankrupt: Legally declared as unable to pay outstanding debts.
- Resources: Available assets or means, such as money or materials.
- Recklessly: Without thinking or caring about the consequences of an action.
- Severe: Very great, intense, or serious.
- Practical Value: Usefulness in real-life situations.
- Contented: Happy and at ease; satisfied with one's situation.