What do you want to have in your life?
The secret to wealth is in the habits we choose to practice daily. I read a story a few weeks ago when I was in search of daily habits of the rich and poor. Although I have seen the habits of rich and poor all over the internet before, I was compel to revisit and take notes. I realize and as you too may have noticed that the habits of the rich and poor is far from being the same. Well, they may do some of the same things but the percentage of what they do daily are quite different.
It is not what you earn, but what you keep.
The philosophy above has been my practice from a young age and although I wasn’t fully aware of the value at the time I kept doing it. However, this is not about me. The story of Oseola McCarty is a perfect example of the above phrase of which shows that it’s not the amount of money you earn, but what you keep that will create the wealth you want. Too many of us are caught up in getting of everything that is advertised even if it cost us to spend more than what we have earned. The truth of the matter is, we cannot get wealthy by spending all or more than what we have earned. Well, to go back to Ms. McCarty and her gift. This amazing woman had a menial job as a washer, but was able to donate $150,000 before her death of cancer to University of Southern Mississippi. This remarkable woman may not have had a fancy life or an easy one but the habit she mastered provided financial help to students who had financial problems. The habit of saving can make your life more rewarding.
You must learn to save from whatever you have earned.
I have mentioned this in one of my class and a student quickly stated that it is not possible because the amount earned is already not enough. Do you buy things that you don’t need? Was my follow up question and after some hesitation the student stated, yes. Exactly! Then it is possible to save from whatever you earn. In that case, it is just a matter of getting in the habit of saving.
Breaking old habits is going to take discipline on your part. The thing about forming new habits is that it is possible, but you have to be serious and mentally ready for the change. It has been said that discipline is the bridge between your goals and accomplishing the goal that you have set for yourself. To SAVE will take discipline. YOU CAN DO IT! If you haven’t been practicing the habit of spending less than you earn it is not too late to start now. Remember, forming new habits will take discipline but you’ll see the worth of your effort sooner than later.
I am keeping more of my money.
In order to keep more of what you have earned, you will have to minimize your spending on things that are unnecessary. If your intention is to be wealthy or have enough to be comfortable later in your life, you will have to organize your spending habits. Never neglect paying yourself of which I believe is very important. Some of us pay everything else but ourselves. As is pointed out the book The Richest Man in Babylon that 10% of what you earn is your to keep and i believe that wholeheartedly. In regards to money habits you may want to educate yourself in order to create your own blue print when it comes on to money. Sometimes it’s just a shift in our paradigm we need when it comes on to how we handle money. Yes. I will insist by saying that you should keep some of what you earn.
Being frugal is not a bad thing.
It is possible to go beyond limitations. It may not be easy, but it is possible.
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THE BEST IS STILL WITHIN YOU!