How the richest get richer

Have you ever wondered what would it be like to buy anything and everything you want? If I had X amount of dollars, I would buy… Have you ever had that thought? I sure have. Well the one thing I have learned to appreciate is the old saying a penny saved is a penny earned. In today’s fast paced, Internet social media world, we have grown anxious about having everything right now.
As adults we have grown over excited about our opportunities to have fancy cars, over-the-top houses, expensive jewelry, lavish gifts, and extravagant vacations. Many times it’s to keep up with Jones’ and other times it’s just because we can afford it. Never thinking about what if I run out of money.
When is the last time you had a slice of humble pie? The time you stopped and realized that you are living outside of your means. The time you reflected on what it was like when you first started out in adulthood, when you ate PB&J, Ramen Noodles, and drank Kool-Aid. For some of us that was a very long time ago, for others it was just the other day.
As we get older and earn higher wages and work longer hours we need to stop and reflect on how we got to this point of living the good life. Let’s be honest with ourselves, most of us are one natural disaster away from being back at square one, despite how much we have in the bank.
Earning and sustaining wealth is where our mindset has to shift. The most successful people know that living within and below your means is the key to sustaining wealth. So how do the richest of the rich get even richer? They live on what they need and put the rest the work.
Billionaire investor Warren Buffet is a perfect example. Buffet still lives in the same house he purchased for $31,500 ($260,000 in today’s dollars) in 1958, uses coupons and never pays more than $3.17 for breakfast. Dallas Cowboys running back Alfred Morris earns millions, he drives a 26-year-old Mazda 626 sedan from 1991 that he bought for $2. Washington Redskins quarterback Kirk Cousins earned $20 million last year, but he chooses to live in his parent’s basement with his wife during the summer and drive a dented GMC Savana Passenger van that he bought from his grandmother for $5,000.
It will be hard at first to resist the temptation to spend, but once it becomes a habit you will only want what you need.

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