It’s All About the Budgeting

It is not about the latte it is about the budgeting

what is your goal? 

If your goal is to become RICH, then cutting out lattes (or another spending habit) is not going to do it for you. Jeff Bezos didn’t become RICH by cutting out lattes. Neither did Bill Gates or Warren Buffet. 

So what does building wealth mean?

It means having financial security on a smaller level. It means a house (paid for), it means a car (modest and paid for), it means a comfortable retirement.  But getting there doesn’t happen only by cutting out lattes or take-out. It takes savings and no debt.

No Debt

You can’t build wealth while you are also acquiring debt. Besides a mortgage, consumer debt is usually a crippling liability that grows and grows in size each passing day. If you add to that debt, even by a small amount, you increase the load holding you back. 

Savings

If you pay yourself first in savings and pay off your essential bills, then you only have a certain amount of money left to “play with.” After that, you can choose to spend that money how you see fit AS LONG AS YOU DON’T SPEND MORE. 

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