WISDOM FOR SUCCESSFUL LIVING
Laws of Financial Success 5
”Wise people save the nice things they have. Fools use up everything as soon as they get it”. – Proverbs 21:20 ERV
Our Financial Success series so far has focused on how to acquire money and increase your earning capacity. In the second part of this series, we will be discussing basic fundamental tips of what to do with the money you earn in order to make it grow. I hope you find it interesting.
Spend less than you earn: One of the greatest money management habits you will ever develop is your ability to manage your outgo, as much as you manage your income. The reason many people fail financially is not because they do not earn much money, rather it is because of their indiscipline in the management of their spending habits, which causes them to spend all they earn and a little more besides. The excuse the majority of the people who manage their finances this way give is that the money they earn is simply not enough. Nothing could be further from the truth. Financially successful people have unraveled this lie, and ensure they do not allow themselves to fall into this deception.