There are many rich people who, despite having money, lose their long-term financial stability but If it is not possible to restore financial discipline, then a person will never be successful in the long run. If someone has a small income and if he manages his financial affairs with discipline through that small income, then he can be in a good financial position in the long run. To be financially independent, a person must have a financial discipline along with his income and must use his money properly. Those who can give importance to these three things will be successful in the long run.
Money is needed for any purpose, but if someone does not have the ability to hold money or does not have a financial disciple, then he can never be financially strong.
It can be said that preserving wealth is much harder than acquiring it, and that's undeniably true. This is especially relevant today, thanks to technological advancements where many things can be done with just a swipe of a finger. No one has to leave their house anymore to spend their entire monthly salary.
I think this is why many people today struggle with managing their finances. Social media trends push everyone to spend a lot of money to fulfill their wants, not their needs. The older generation can be more frugal and disciplined in managing their wealth because they don't follow trends.