“Spend less than you earn”… mum always told me. Thanks mum.
I could teach you every technique and strategy to make money online but if you can’t control your spending habit, you’ll be going around in circles for a long time.
I’m amazed how many people ignore this simple but most golden of all golden rules of becoming rich. You have to live within your means. Control your spending.
The surest way to scupper your wealth creation is to go out and spend everything you earn or receive (and a bit more just for good measure). This particular addiction is very strong in me. I had a habit of changing cars every 6 months, until I sat down and worked out just how much I was losing each year.
I’ve stopped now. And you have to resist too if you are going to turn what little you have into a bigger something. Forget notions of new cars and holidays in the sun – at least for now. You are going to turn into a bit of a Scrooge for a while, hanging on to what you’ve got in order to prepare for the future when you will have so much more.
This means you have to control your urges.
Look, I’m going to let you in on a secret. Prosperity is a race, a prize, a winning line. We all set out wanting to race towards it, claim it. Some can’t be bothered to make it to the starting line because they are so weighed down with unhelpful beliefs that floor them before they start. And a whole lot of people fall by the way side from laziness early on. And many more fail to make the grade because they get daunted by the hard work needed.
And still more at this point, where you’re at now, stumble because they need to give in to temptation to spend, spend, spend like there’s no tomorrow.
Well there is a tomorrow and it comes quickly enough. And that shiny new car now looks sad and rusty, the holiday is gone with only a few snapshots of people and places you can’t even remember and the new clothes are outgrown and unworn.
The simple truth is the rich know how to control their spending urges – that’s why they’re rich. When they need to tight their belts they can do it.
And you need to do it too, tighten your belt that it. In fact what you need is to not loosen it in the first place.