Posted in Mindset, Planning

Stop looking for trouble, don’t allow your lifestyle to outgrow your income

There are many things we think we should have, a big home, a nice car and the list just keeps piling up. But there’s only so much you earn if you don’t have anything left to invest how will you grow your income? Even worse, the things you buy require attention and maintenance, that means more money than you intended to spend on them.

Think of something simple as owning a car. You have to fill it up with gas, pay for insurance and the occasional parking ticket. But you don’t think of all that when you buy the car, otherwise, you would never buy it. Wouldn’t it be just simpler to have something else cover the expense for you?

An alternative

When Robert Kiyosaki wanted to buy a new BMW he had the money, he just didn’t want to throw it away on something that doesn’t provide him with a cash flow. So instead he looked for a small warehouse that was worth as much as the new car he wanted. He bought the warehouse and leased it. He then proceeded to buy the car in monthly installments that were the same as the rent he got from leasing the warehouse. When he finished paying for the car the warehouse still generated an income.

My point is not that you should hold your breath till you can’t take it anymore. Buy what you want but use a little common sense. Before you make a purchase think will the car buy me the warehouse or will the warehouse buy me that car.

I hope you found this post helpful, if so like it and share it with your friends. And while you’re at it, check out my ebook ‘level up your business’ a guide to starting your own business the right way.


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