How To Keep Money
Whoever gathers money little by little makes it grow - Proverb.
In this episode, our hosts discuss how you can keep some of the money that you earn so that it grows into more money in the future. Whether you make a minimum wage or a six-figure salary, you have to find a way to turn some of your earnings into investments.
Grey and DJ Sbu share some of their tips on how they have managed to retain their earnings and accumulate more wealth over time.
Having a lot of debt is like pouring water into a bucket full of holes at the bottom. No matter how much water you pour inside, the bucket will never be brimful. Therefore, the first tip from DJ Sbu is to eliminate debt. Once you eliminate debt, it is easier to start redistributing any excess cash towards investment activities.
The right mindset to creating wealth will help you make the sacrifices in cutting out bad spending habits. Remember that there is no cheat sheet for real success. Exactly like you have to put in time at the gym to get ripped, you have to put in the time in learning and educating yourself to get rich.
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