Learn to master money. Don't let money master you. Everyday people work for money enslaved by the system of the economy. Sucked into the world of consumerism, the hard earned money is wasted. So the endless cycle continues.
Some are fortunate enough to be blessed with an abundance of wealth. Some are smart smart enough and succeed at wealth creation by making their money work for them. On the other hand, there are those who try but fail miserably.
So why is it that the others fail at wealth creation? The answer is simple. They lack the discipline to commit to wealth preservation. Without wealth preservation, there can be no wealth creation.
So what's this all about? Well, if money is always wasted and never saved, then nothing can be set aside for long term profitable savings and investments. The key word being profitable. It's important to research and find a profitable way. Otherwise, all efforts will be wasted and the end result will be failure.
As easy as all this sounds, the sad reality is that it's difficult to fight human desire and bad habits. Instead of focusing on long term goals, all is wasted on the short term unnecessary luxuries. Buying overpriced expensive materialistic objects which could easily be avoided by buying equivalent cheaper alternatives. No further elaboration is needed on this matter. We all know what changes we need to make in our own lives in order to stop working for money and start making money work for us.
FOLLOW & UPVOTE then let me know in the comments so I can do the same. ALL quality comments will also be upvoted.
The problem with many of us when you look around and see what other have you'll feel like poorer than a poor person I drove by a rich areas today and God damned the cheapest house is over 700k all what came in my head @#%& me . I kinda believe the idea to increase income more important than saving
Absolutely. More income can be useful if utilized correctly. However, the more we earn the more we spend. That's the case with the majority of us.
True I agree in order to make money you have to spend money but up to a certain level after that it's profit but the million dollar question how can you get to that level
Totally valid question. Different people will have different answers.
For myself, if I can set aside 10% a month, it's good enough for me.
This is not same for everyone particularly those who are striving hard for their basic needs like food, shelter....on day to day basis, but i do agree that after a threshold line this can generalized for a mass of people.....Thanks
Yep
Everyone needs to set a threshold for themselves based on their circumstances
Agreed. However for some, they cannot or don't allow themselves to feel they are deserving due to their up bringing especially around money. They think and feel money is evil, or it's not easy to have more of it and are in a permanent situation of lack.
What we fear most is more of what we draw onto us. For such people, even if they come into huge amount of money they will do all they can to drive it away unconsciously. Upvoted!