Living Under Your Means - Hard Money Bankers
Living under your means is very important when try to become wealthy. The most wealthy people on their planet only spend a small fraction of their income on their living expenses. The rest of the money they put to work. Recently I read 'The Richest Man In Babylon'. It reaffirmed things that most people know about money, but it is very good to read if you have not. Being able to pay yourself out of your income in order to put your money to work in smart investments is the only real sure fire way to get yourself out of the rat race. If make $100,000 per month and you spend $100,000 per month you are no closer to being wealthy than someone who make $1,000 per month and spend $1,000 per month. Just like in life, your business should follow the same rules. Be sure to not spend all of your business income on expenses that are not put back into the business to grow it and therefor grow the income. Live under your means as it is not as hard as people like to think. We all have monthly expenses that we can easily live with out. We all don't have to have the finest brand items and there are lots of alternatives. Do yourself a favor and put 1/10th of your check aside every month into a savings or growth account. Run a compound interest calculator and see how much that is worth in 20 years. That might help motivate you to not live above your means.
Ian Walsh215.839.3271
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