As most of you know i put a lot of thought in my blog, there are days and days of research, hours of thinking and writing and it took me two weeks to come up with this post.
Last week, i stumbled upon an archived article here on a personal finance blog that i read regularly (It gives me an idea how other people manage their personal finances) . If you do manage reading the whole of article, you will realize that wealthy people do very basic things that we all know to build wealth.
I made me think that to build wealth, its very important to differentiate between your WANTS and NEEDS. Personally i define a "WANT" as anything i wish i would/could have and a "NEED" as a necessity for my daily routine. I decided to add that as Lesson 0. After you differentiate that, you can definitely budget (Lesson 2 in the article) more for your needs and some for your wants (We are humans, its tough to resist the urge), which in turn makes you happy (Lesson 9). What it will also give you is a view of your spending (where your money goes ?? Lesson 3).
I am not going to go over all the lessons, as most of you will relate some of the lessons to your life. Finally, I encourage you to share your opinions and experiences as I would love to hear your thoughts on how much time you spend on your finances or how do you resist the impulse buy?
Live Simple and Think High !!!!!
P.S :- If you believed the first sentence of this blog, that was a BAZINGAAA !!! I got lazy and went for a small trip on Memorial Day weekend.
Last week, i stumbled upon an archived article here on a personal finance blog that i read regularly (It gives me an idea how other people manage their personal finances) . If you do manage reading the whole of article, you will realize that wealthy people do very basic things that we all know to build wealth.
I made me think that to build wealth, its very important to differentiate between your WANTS and NEEDS. Personally i define a "WANT" as anything i wish i would/could have and a "NEED" as a necessity for my daily routine. I decided to add that as Lesson 0. After you differentiate that, you can definitely budget (Lesson 2 in the article) more for your needs and some for your wants (We are humans, its tough to resist the urge), which in turn makes you happy (Lesson 9). What it will also give you is a view of your spending (where your money goes ?? Lesson 3).
I am not going to go over all the lessons, as most of you will relate some of the lessons to your life. Finally, I encourage you to share your opinions and experiences as I would love to hear your thoughts on how much time you spend on your finances or how do you resist the impulse buy?
Live Simple and Think High !!!!!
P.S :- If you believed the first sentence of this blog, that was a BAZINGAAA !!! I got lazy and went for a small trip on Memorial Day weekend.
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