Spending Less or Saving More Will NOT Make You Rich (The Truth About What It Takes to Build Real Wealth)
Growing up, I heard it all the time: “To get rich, you need to spend less than you earn.” It wasn’t until I was in my early 30’s that I realized that this idea was only half right, if not complete bullshit.
While it is true–and, dare I say, a “no-brainer”–that one cannot become wealthy by perpetually spending every single dollar one earns or gets his or her hands on, the fact of the matter is that the act of not spending money (or of saving is) is not the determining factor in whether you become wealthy; how much you earn is.
What I’m about to tell you is something that’s not taught in school, something your parents most likely know nothing about, something you very well would never learn if it weren’t for you finding this blog, and something that you must understand and understand well if you’re to have any hope of ever becoming, let alone staying, wealthy:
No amount of cost-cutting, penny-pinching, or coupon-clipping is ever going to make you rich, in and of itself. And the same goes for socking away 10% of each of your paychecks (which I know for a fact you do not do) in a low-interest savings or checking account or in a low-risk 401K or IRA. What is going to make you rich (and keep you that way) is earning a massive income that far outpaces your spending.
THE QUESTION YOU REALLY NEED TO BE ASKING YOURSELF
That having been said, the question you (and every other financially hard-off individual reading this right now) need to ask yourself is not “How can I cut down on my monthly expenditures?” but “How can I earn so much damn money that I couldn’t possibly spend it all?”
Now, this is not to say that, for in the event that you do become wealthy, you should not keep an eye on your finances or spend your money as if it were going out of style, because you should always live within your means, regardless of how much you earn (lest you end up at the mercy of payday loan outfits, banks, and credit card companies and their exorbitant interest rates), but it is to say that it doesn’t matter great of a “saver” you are if you don’t earn enough money to not only pay your monthly bills but to get ahead of them. And when I say ahead of them, I don’t mean by just a week or two; I’m talking so far ahead that you could take two to three years off from work, if you wanted to, and disappear into the middle of nowhere to do nothing but rest, relax, and catch up on some good reading.
So how, pray tell, are you to earn enough to be able to afford to do something like that? you’re surely wondering. Well, I can tell you this much right off the bat: You’re not going to do it by working a “nice”, “stable”, “decent paying”, 9-to-5 style job working for someone else until age 65, you’re not going to do it by buying a lottery ticket every week, and you’re most definitely not going to do it by sitting around on your lazy ass and waiting for someone else to come along and say, “Well, will you looky here! I know just what you want and I’ve got it right here for you, on this beautiful silver platter!”
IT’S ALL ABOUT VALUE
The only way you are ever going to get rich and stay that way is by—are you paying attention?—ADDING MASSIVE VALUE TO THE LIVES OF OTHER PEOPLE; in other words, by making other people’s lives better, and not just a little better, but so much better that they practically (and sometimes literally) beg you to take their money, in exchange for your goods and/or services.
Now, this doesn’t necessarily mean that you need to start your own business to become wealthy, because you could certainly add massive value to others’ lives by working as, say, a high-powered assistant to a successful business mogul, a wildly successful lawyer within a large law firm, or a passive investor in what could become a massively successful business venture, but, if you ask me, the clearest path to riches is an entrepreneurial one.
You see, in work, as in life, you’re either a boss or a bitch (please, excuse my French). In other words, you either run the show (as in, your life) or you get run over (as in, stepped on and over by “bigger” people than you, en route to their own riches). So if you find yourself, day in and day out, with tire treads or boot prints running up and down your back, taking orders from everyone else, and waiting to get “lucky” or for someone to, out of the apparent kindness of their heart, to pluck you from obscurity and/or mediocrity and place you on some kind of ivory pedestal, where you will be showered with money and gifts for all the good you’ve done in your life to this point and/or for all your hard work and/or loyalty, then you will be waiting for a very long time, because not only will you never become wealthy by doing this, but you will never even break even with the bills you already have.
At some point, if you are serious about finding financial freedom, you need to stop getting stepped on and start stepping up, which necessitates standing up, first and foremost, for yourself and what you believe in. At some point, if your serious about becoming your own boss, whether in life or in business or both, you need to stop working for others and you start working for yourself, and you need to do that by ADDING MASSIVE VALUE TO THE LIVES OF OTHER PEOPLE. Why? Because other people are the only thing that can give you money.
WHAT REALLY EARNS YOU MONEY
Yes, I know you love your cat or your dog, but they can’t pay your bills. Yes, I know you’re addicted to your smart phone, but it can’t write you a check. And yes, I know you love going out with your friends and grabbing an occasional burger or a slice of pizza, but you know what? Spending money isn’t what earns you money; EARNING MONEY IS WHAT EARNS YOU MONEY, and the only way you can earn money is by essentially talking other people into giving theirs to you. And again, you do that by making them want to give it to you, in exchange for the products and/or services you provide to them, for the purpose of improving their standard of living–not by “working hard” necessarily (although I must admit that hard work can be, and often is, a pervasive element of most people’s success).
So, in conclusion, if you’ve been, to this point, struggling and toiling away in life, trying to figure out how to get to next Friday, let alone next year, on a piddly little paycheck that is barely enough to keep your lights on in your home (assuming you even have one), let alone food on you and your family’s table, then you owe it to yourself to put the weekly coupon section of your local newspaper away, to walk away from the Powerball, and to step up to the plate, in terms of taking your first real swing at become wealthy, by thinking not about how little you can spend, but about how much you can earn; by thinking not about what’s in it for you, but what’s in it for others; by thinking not like a poor person, but like the millionaire (or billionaire) you were born to be.
Thank you so much for taking time out of your busy schedule to be here today! I hope you’ve enjoyed reading this post as much as I enjoyed writing it!
Please leave a comment below and tell me how you feel about this post, or better yet, visit its sister thread in the Manifestation Machine Forum and join the discussion about the topics covered herein. I can’t wait to hear from you, and neither can the millions upon millions of your fellow Mechanics!