Wed 22 Nov 2006
It’s not Spend Less Than You Earn, it’s Make More Than You Spend
Posted by RichSlick under Slow Wealth
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I wasn’t completely satisfied with my earlier post today. Something kept bothering me about the whole “spend less than you earn” mantra and I couldn’t put my finger on it until now. As long as inflation exists the cost of everything will always go up, you will ALWAYS need to spend more no matter what unless you’re willing to let your standard of living deteriorate considerably. Education will cost more, housing will cost more, food will cost more, and everything else will cost more tomorrow than it does today. Your goal in life should be to MAKE MORE THAN YOU SPEND and not spend less than you earn. This is my new mantra: MAKE MORE THAN YOU SPEND!
November 22nd, 2006 at 8:47 pm
yes especially with inflation so rampant these days and the dollar so weak, its hard to keep up. The fed definitely needs to raise rates a few times more.
March 6th, 2007 at 5:33 pm
So true.
You can never be rich if you don’t make a decent living to begin with! And you can’t stay rich if you keep spending all your money, no matter how much you earn!