When it comes to wealth it’s not about how much money we make but how much of that money we get to keep. I know right, the common misconception is that wealth is measured by the things we can buy and afford. Although this is true to a vast extent of the definition of wealth much can be said about the money we get to keep as this affords us an abundance of this resource (money).
For example, take two people, a man and a woman who each earn the same amount at their jobs – both earn $1 000 per month. The guy spends all his money in the duration of the month paying for bills, necessities, luxuries etc. The woman manages to save $300 each month by only spending on bills and necessities. They continue like this for the next 3 months receiving their wages of $1 000 and spending it like they always do.
Come the fourth month the man is still living paycheck to paycheck, whilst the woman has managed to save $1 200 thus far. When looking at their salaries it’s safe to say their equally rich but in reality, the woman is now at least twice as rich as the man only a mere four months in the job. For the next three years, the man is stuck in the same position and the woman has progressed so much that she has bought a car with her savings. She later gets a promotion because she is now always early at work and manages to do more work with the extra time her car has provided her.
You see how different approaches can lead to many different lifestyles in the future. In this world we live in, the world of capitalism it is those who think ahead that get ahead. The people who not only think about themselves but also about the next generation, the wealth and knowledge they’ll get to pass onto them.
One of my favorite quotes about money is from almost a century ago by Will Rodgers -
“People often spend money they do not have on things they do not need to impress people they do not like.”
We really can live happier and more fulfilling lives without having to impress other people because at the end of the day the only person that really cares is you. The few other people that care already love you for who you are and what you already have, they want nothing less of you and nothing more.
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