The Mindset
Creating wealth has more to do with your mindset than your paycheck. Why? Example?
Creating wealth has more to do with your mindset than your paycheck. Why? Example?
You can create wealth on a salary of $50,000 a year and you can be broke making $100,000 a year. It’s not so much the money you make, it’s what you do with those earnings AND how much you end up keeping on a monthly basis (savings). Acquiring the mindset of a saver instead of a spender can make all the difference in the world.
The savers mindset says you will pay yourself first (20% of your gross income is a good recommendation) and spend what remains. The spenders mindset says you don’t make enough money to save so you end up spending first and saving what remains, which usually is little to nothing.
The key here is the mindset. Become a saver! Reject the idea that you must spend what you earn on more and more “stuff.” One approach can lead to financial freedom and the other to bankruptcy court. The choice is yours. The choice is always yours!