"Most people believe the key to wealth is a high-paying job. Yes, it's easier to amass assets if you have more money coming in each month, but the true secret to increasing your net worth is to spend less than you make.
"It is a cliche; but it is the fundamental, absolute, non-negotiable reality of money. To escape this trap, you need to understand that income is not wealth. The level of your wealth should be measured by the length of time you could maintain your standard of living without an additional paycheck." J. Kennon
|I see, I want, I buy?|
Want to see how someone in his 20s is becoming wealthier by the day? I am talking about Matthew Seah. The chart he shared with me will blow your mind away: Becoming a millionaire next door.
It is about saving as much money as we can by keeping expenses low. This means that we should not buy luxury goods especially not in order to impress people when we have made some money!
I understand that we are human and sometimes we need to pamper ourselves a bit but, please, don't go Buying a $500,000 watch after 3 years of work to make a point. The long and short of it, If we are not rich, don't act rich. Chances are that once we are rich, we won't bother.
Finally, don't get tempted by the dark side. Learn The secret to avoiding financial ruin.
On that sombre note, have a happy long weekend.
1. Two questions to help us build wealth.
2. An essential habit to becoming richer.
3. The millionaire next door.
4. A fast track to wealth building.
5. From rich to broke?