Mindblow - Simple financial advice and other ways to improve your well-being

Live below your means

Some things sound so extremely simple, yet they are so true. If you want to build wealth, you need to save obviously. There are two ways to achieve this. One, try to earn more, second, live below your means.

The first one isn't always that easy. You have to find a skill that the market is willing to pay for, whether it's an employer or a large group of customers. Acquiring a certain skill takes time. But instead, try the second option: living below your means. You can start this tomorrow, and your wealth-building and journey toward your financial freedom will start instantly! Go through all your expenses, and be tough on yourself. Do you really need all that stuff and services? 

For instance, buying a brand-new car is crazy when you want to build wealth. Make the calculations, and see how it depreciates over time. But also, you probably have some services with monthly fees that may look small one by one, but in total, they add up. Do you really need all those high-profile brands to show off on your social network?