Quote from: kotajikikox on May 21, 2025, 04:04:26 PM

Earning money is hard. Saving money is hard. Getting rich and being able to live comfortably is hard. But the truth is saving is not enough. Lots of people will ask how to really get out of poverty but the simple straightforward answer is that you need to be earning more than what you are spending. The question begs, is there a way to get rich even if your expenses are higher than what you are earning?

I don't think so. Some people might use credit cards or loans but it is just a cycle of taking a loan then paying it and you are not really moving forward are you? Saving also does nothing much but it can be a good start. You start saving money and at some point when the money is big enough you can start investing. Either in crypto, real estate or in a business. But just saving the money? Unless you want to keep working until the day you die then it will not be enough.

It's not what you make, it's what you save.

Even if you get your income up, lifestyle creep will get many and they'll negate their efforts, merely manifesting the same symptoms on a larger scale.

This is where "More money, more problems" comes from.

Throw what you can manage to save into the S&P500 and compounding interest will eventually take you to the moon, even if your income isn't growing.

Remember, you control your expenses more-so than your income (assuming you're not self-employed).