Do you want to grow your personal wealth? If you do, then you have to start spending less than what you are earning. That is the secret to building true wealth that will not be spent in a rush. A lot of us think that being wealthy is all about earning more money. That is why we end up spending a lot of time working and turning our backs to what matters most in life. We skip family events because there is a deadline to be met in the office. We miss seeing our children grow because we had to hop on a plane to fulfill the demands of our job. Despite all of these sacrifices, we are still far from being wealthy. Why is that? CNBC published an article that started with this sentence: Americans are spenders. That is our reputation. We spend so much money to buy a house, a car and a lot of useless junk. We also spend too much on our education. Some of us even put ourselves into debt just to keep up appearances. The article said that we are encouraged by the government to spend just so we can say that our economy is growing. Our economy is 70% reliant on consumer spending. That is why everywhere you turn, you will see signs, advertisements and endorsements with one message: spend, spend, SPEND! Truth be told, there is nothing wrong about spending. However, excessive spending can be destructive. Especially when you are borrowing the money that you are using to pay for your expenses.
Posted on: Sat, 29 Nov 2014 00:53:05 +0000
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