During my travels I have had conversations with many people around the country. Often they are conversations about wealthy people and people with limited financial resources. I share my opinion on how people become wealthy: most of the wealthy people in this country sacrificed spending to take advantage of moneymaking opportunities. It is unlikely that you can increase your wealth in our generally capitalistic system without limiting spending. It is true that spending satisfies your immediate desires, but it does not necessarily enhance your wealth (depending on what you buy). The "work and spend" syndrome (commonly called "living from payday to payday") must be overcome. This is the first step toward increasing wealth.
Some time ago, someone said that if all the money that wealthy people had was given to poor people, eventually the wealthy people would get all the money back. This is perhaps true today. The statement assumes that poor people, knowing their tendency to consume or spend all their money, would in fact spend the money on something that the formerly wealthy people would have discovered to sell to them. We as individuals, especially those who are poor, must defy this scenario. We must learn to keep a portion of what we earn. We must save. Any portion of earnings or income not committed to the purchase of necessities (food, shelter, transportation, insurance and utilities) is available for saving.
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