Large income does not equal wealth

“If you are not as wealthy as you like, there is something you don’t know.” – David Wood

“Wealth is largely a result of habit.” – John Jacob Astor

Many of us make a lot of money as we progress in our careers. Many people earns a monthly income of thousands of dollars and some even much much higher. Despite the big money, they are not much the difference between a minimum wage person who earns a few hundred dollars a month. At the end of the month, these people who earns thousands of dollars are just as broke as everybody else. This is because, the higher they earn, the larger the debt that they can accumulate. For example, bigger house, bigger car, fancier gadgets would led them to bigger debt than before.

Wealth is your net worth. Inflow is larger than outflow equals wealth. Outflow is larger than inflow equals headache. Develop wealthy habit and not a spender habit and you are on your way to financial freedom sooner than you think.