2. Dave Ramsey: «Financial peace isn’t the acquisition of stuff. It’s learning to live on less than you make, so you can give money back and have money to invest. You can’t win until you do this»
When thinking of wealth and assets, we often only think of one part of the equation: earning more money. Certainly, moving up in your career or scaling your business can lead to a higher income and more wealth.
But if you spend what you earn, without a care of how you’re spending the money, having more money will not lead to being wealthy.
Basic Knowledge
And there lies the other side of the equation: how and what we spend our money on. Growing our wealth and assets begins from ensuring that there’s a gap between what we earn and what we spend. Putting it into practice: Having a personalized budget is the foundation for building wealth. It’s absolutely crucial to know how much money you earn, and how much of it you’re spending it.
Without this basic knowledge and awareness of where your money is going, you can never be rich. So, if you don’t already have a budget in place, now is the time to create one that works just for you.
