Consumers will remain consumers, even if their income increases.

• Negative spending habits can destroy your financial life, and disrupt your mental health and relationships.
• Credit card debt can put stress on the quality of your life an contribute to unhappiness.

Investors put their money to work. They know that the money they set aside today sets them up for financial freedom.

• An investor puts any excess money towards investments that will earn more capital.
• They value learning new skills and think of ways to use it to earn more money.
• When their income increases, they invest the difference.
• They don't use a credit card and have an emergency fund built up to cover at least six months worth of unexpected expenses.
• They don't follow trends but identify trends that will last, then find ways to use them by investing through the stock market or a startup.
• Their focus is on Return on Investment (ROI) to direct their decisions.
• They understand how to use compound interest to build long-term wealth.

Opportunity cost is the loss of potential gain from other choices when one alternative is chosen.

Every time you decide to buy something, you choose to lose out on investing that money. If you buy a brand new car you don't need for $30,000, you're missing out on the opportunity to invest that money into the stock market and lose out on compound interest. This means that you should not buy on impulse, but think of your money in terms of future value.

Individuals who have bad habits ingrained in them will take more effort and self-discipline to make the change. Know that you are able to make a switch. It's okay to take baby steps and work your way to becoming an investor.

• Invest in yourself.
• Start tracking your expenses.
• Identify and improve your spending weaknesses.
• Get all bad debt out of your life.
• Automate your savings and invest your excess income.

Investing in yourself is one of the best investments you can make. Marketable skills make you valuable.

Listen to content about investing, side hustles, and entrepreneurship that will inspire you. Keep a notebook and write down information that stands out to you.