Saving Money May Be Worthless - Deepstash
Saving Money May Be Worthless

Saving Money May Be Worthless

The mere act of saving money by itself does not make one rich, or wealthy. Saving is not the magic sauce of retiring early and enjoying life to the fullest.

Wealth comes from investing. It is a direct effect of what we do with the money we save. Saving may well be the first step.

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MORE IDEAS FROM What's your money's purpose? No one ever got rich by saving money

  • Know where your money is going and check for invisible leakages.
  • Understand that your current scenario needs to change for the better and you have to get into your dream life.
  • Invest in something worth the time and money, while ensuring it is given an ample amount of time.
  • Be persistent and patient towards your investments.

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Early Retirement can be summed up as:

Money Invested In A Purpose + Our Motivation = True Freedom

The key is to make the money work for you, not you working for money. One has to invest money, not just not spend it and feel as if everything will be taken care of.

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RELATED IDEA

Financial Success: Start Early

Financial success is dependent on good habits practised over a long period of time.

You can still have a positive impact on your financial future if you're starting later in life, but you will then have a lot of work to do. This is due to the magic of compounding, that can help you create an impressive wealth snowball.

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Many life transitions happen in your 30's

From moving up in your career to buying a home. Making smart moves with your money during your 30's can help you achieve future financial success.

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Characteristics Of The Wealthy
  • They live in homes just large enough for their needs and drive used cars.
  • They have affordable interests.
  • They don’t worry about having the highest credit score possible as they have enough saved to skip loans and make large purchases with cash.
  • When they get a raise, they focus on investments instead of raising their spending. 

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