Should I leave below my financial status to build wealth? Why?

[King Belieal]

Today, I visited a man to make deliveries to him. This man is a millionaire. He has a good car. But he is living in a run down area. I entered his apartment, and it is just a single room with only a student's mattress as the only property inside. He said he is building his money.

Must someone just degrade his living conditions to build wealth?

 

[Springtime]

If the man is a millionaire, he is really living a frugal lifestyle. May be that's how he has built his wealth over the years.

 

[Suba]

One way to build wealth is that expenses must be less than income, so the man you met has applied this principle, the more money you can save, the faster you will become a millionaire.

 

[King Belieal]

Why would I keep on living in a rented slum because I want to build wealth? That really is not something that I can do. My financial success must improve my living conditions.

 

[Augusta]

Thr man is turning the quest to build wealth upside down. one needs to be reasonable even when you are trying to make money

 

[Kross]

You don't have to be living wretched to build wealth. Leave well but don't just be extravagant. That is the balance.

 

[freelancermaria]

To each their own. I suppose the man feels comfortable living in a small space. Maybe he really is used to it because he lived a very simple life before. Maybe he will upgrade later on but he won't live an extravagant lifestyle.

 

[Augusta]

But then Spending less than you earn creates consistent savings. These savings become your emergency fund, opportunity fund, and freedom fund.

 

[Min George]

If you are not yet an established millionaire, it is the best approach to always live below your means.

 

[Augusta]

Living below your means ensures that as your income grows, your savings grow faster. Lower expenses mean less stress. You're not living paycheck to paycheck

 

[eLdavis]

You don't always have to degrade yourself simply because you want to build wealth. The key here is management.

 

[Springtime]

If the man you visited is already a millionaire, then living below means may be his style. He just wants a simple life or would like to build his wealth even more.

 

[King Belieal]

I just don't know how to suffer myself much. I would rather live within my means. Leaving below my means might be unnecessary suffering.

 

[Augusta]

You don't always have to degrade yourself simply because you want to build wealth. The key here is management.

Yes, Managing your money can help you avoid getting into debt or running out of money. It can help you feel in control and you may be able to save for the future.

 

[eLdavis]

Yes, Managing your money can help you avoid getting into debt or running out of money. It can help you feel in control and you may be able to save for the future.

Yes exactly, i have seen people live a comfortable life but they are still struggling to build their wealth behind the scenes.

 

[Augusta]

Living below your means is about building a financial foundation that gives you control, flexibility, and peace of mind but do it wisely

 

[Fidelia]

I am not living below my my financial level. I am living within my financial standard and it helps me to maintain a lifestyle that gives me sanity.

 

[Augusta]

Yes, By living within your means, you take control of your finances and structure your life.