by: Don G / @lbdStreetFashion
What you get in life is proportional to where you spend your time and attention. Are you serious about building wealth?
A man is a success if he gets up in the morning and gets to bed at night, and in between he does what he wants to do. ~Bob Dylan
Most people are not focused on growing their wealth, don’t have plans, don’t have budgets, and don’t track their spending.
The bottom 20% live in poverty with little to no access to healthy food, quality education, or resources in their environment that allow them to make better choices.
Much of the supposed middle class are no better off. They carry the illusion of wealth by holding debt which can at times far exceed their net worth. They lack drive and motivation to focus attention to their financial wealth, preferring nights on the town to party with their friends and working in a low paying field.
Many aimlessly wander through life with no plans to how they will improve their situation, living from check to check, choosing daily to live their lives struggling to respond and react to each crisis they face.
It’s also a fair assumption that these same folks have less than $1000 in savings and are not willing to put in the extra time to educate themselves, create better habits, limit their expenses, or slay daily temptations.
- If you want to get out of this situation begin by looking for ways to steadily increase your income while limiting your expenses.
- Educate yourself about finances and learn to invest the difference. This may include investing in yourself also.
A financial plan you can start progress on today can be to become above average financially. To do this, increase your income to above 50k annually, have more than $1000 in savings, and carry zero credit card debt, and significantly reduce your debt.
Become serious about building wealth. Don’t be like so many others who just have it on their “wish list”.