Live Below Your Means

Living below your means is the fundamental building block that allows the average person to become wealthy over time. It is simple to understand. Wicked difficult for many to actually do.

What is it? Spend less than you earn.

This action will allow you to save a minimum of 10% of everything you earn. Generating savings is the critical first step you will need to take to get started on your journey to financial freedom.

It is also a mental model - a way to live your life. It comes easy to some people (usually those who value being financially secure). Other people, not so much. Our outlook/attitude on money and financial topics is heavily shaped by our childhood.

Needs vs Wants

Standard of living continues to rise for the next generation.

Wants often get conflated with needs.

More to come

Spouse

Chose wisely.

Are their attitudes about money in alignment with yours?

Keeping up with the Joneses Karashians

Impact on social media on spending.

Easier to spend today than ever.

Impact of electronic banking on spending.

Need good habits

More to come