Sure there are a lot of blogs out there that teaches you to live within your means and to try to live as frugal if not down cheap as you can so that at the end of the day, you keep more than what you have earned. These are all very good and sound advise. But to really make a good amount of money to be able to live comfortably and not worry so much about how you nickel and dime your money, you have got to make more money than what you need. A lot more.
Over the last few weeks, we made a well laid plan on our path to frugal living. But a best laid plan met reality last week which made me realize that it may not be in our best interest to try to nickel and dime our way towards wealth. You see, going to these discount stores last week created a lot of stress starting from trying to outrun other drivers in the parking lot to the sardines-packed stores and the long lines. It will be the death of me trying build wealth this way. Plus, we really missed the aromatic and music filled halls of Neiman Marcus, the piano music at Nordstrom and the tranquil ambiance of the high-end stores.
It just dawned on me. It’s better for us to just try our best to be money smart by saving 10-15% for retirement, take care of the bills, paying all credit card debts at the end of the month, removing excesses and keeping emergency funds. The main focus should be building multiple income streams in order to exponentially grow our wealth.
