LOK 📖

    Saving Is More Important Than Earning Money

    Accumulating wealth depends more on your ability to save than on your ability to earn income

    • You can accumulate wealth without having a high income.
      • You can't accumulate wealth without a high savings rate.
    • You can save by spending less.
      • Saving helps you manage your time in the future.
      • Saving generates an invisible income in the future.

    Your ego determines how much you do not save

    • There is a necessary limit to spending money.
    • Beyond that limit you only buy for winning a status game.

    LOK: 4. Management
    RL: Psychology of money
    IDEAS: Personal finance Savings
    #Strategic_Thinking