3 Truths About Wealth That I Never Fully Considered Until Now
I am good at finding income-generating opportunities. Within the past three years, I started a neighborhood retail store, created an online shop in Shopee, sold more than 1 thousand items through the Facebook marketplace, and joined affiliate programs. Yet I have little to show for it.
This year I decided to be more proactive about my finances so I binged on materials about building wealth. They are telling me the same thing — I may have a strong offense, but my defense is poor. In building wealth, both need attention. Having a poor financial defense is like pouring into a bucket with a hole. Even if I pour non-stop, my wealth bucket will never be full unless I patch up the hole.
I’m keeping in mind these three to keep up with my financial defense.
1. Financial wealth is what we don’t spend.
The wealthiest is not the one who spends the most but the one who keeps the most. The wealthiest are not always those who earn the most. Even those who earn millions can end up bankrupt if they don’t control their spending. Mike Tyson, 50 Cent, and Nicolas Cage are three examples of millionaires who went bankrupt because of overspending.
Despite my different streams of income, I am not wealthy because I spend all of what I…
