Save! Save! Save! The mantra of Dave Ramsey and Suze Orman. Well, I don’t care what they say. You cannot save your way to wealth.
“Saving is an OUTCOME of having INCOME. Savings is NOT income creation.” Trudy Beerman
If you listen to Dave Ramsey and Suze Orman long enough, you will cut every corner to save every dollar and spend so much energy doing that, that you forget to put time and energy into making money.
Saving is a money keeping strategy, NOT a money making strategy. Saving is a good thing to do, but some people have become ‘penny wise and pound foolish’. This is an old phrase that means you are freaking missing the bigger picture! More money will crush your debt, afford what you want and need, and create a more comfortable life for you and those people and organizations you love.
Save; OR make more money?
MAKE MORE MONEY! One way to do that is to BUY TIME! This is counter to some of the saving strategies. Cutting your lawn may save you $40, but paying someone $40 to cut your lawn may have bought you the two extra hours to grind out more than $40. The reason why it is accepted that time is money is because most people trade time for money, and use money to buy time.
FAST FOOD is a great example! We spend a few more dollars than it would cost to make-from-scratch, to give us the time we did not have for the shopping, the prepping, the fixing, and the clean up. It is WORTH IT to pay those extra dollars to get that time for a more life-improving, money-making adventure.
Hire a babysitter for a few dollars, so you can connect with your customers and bring home that fee plus more. Sometimes, the money saving things we do are costing us our wealth. You cannot save your way to wealth. Go out and MAKE MONEY MOMENTS.
YOU CAN’T SAVE YOUR WAY TO WEALTH.
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You know someone who needs to hear this message. Show that you care, that you are working on improving you too – SHARE THIS CONTENT! It’s FREE to pass along and you may help someone who needs this. Earning money (income) and keeping money (savings) are two different skill sets. You can save from earnings, but you cannot earn from savings unless you invest that money – which means your money is working for you, not sitting in a stagnant reservoir somewhere.
Proverbs 21:20 “The wise man saves for the future but the foolish man spends whatever he gets.”
Proverbs 6:6-8 “Take a lesson from the ants, you lazybones. Learn from their ways and become wise! Though they have no prince or governor or ruler to make them work, they labor hard all summer, gathering food for the winter.”
The ants WORK (earn), then save! That is the order of money.
Saving money has its place in the overall financial strategy, however, some have taken this to the penny-pinching extremes and lost the point of the process.
Saving money was simply a way to ensure you had money for ‘rainy days’. If you make more money, you WILL have money for rainy days as long as you manage that money properly.
Saving is not the focus but it a strategy to finance your next ‘more money’ step.
Saving up for a thing, such as a short-term saving toward an experience or acquisition, or long-term saving for a big ticket item. When you take your eyes off of the making of money to the saving of money, you turn off the income flow. Instead of a pipeline, you have a stagnating pool.
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