What do they think about these mathematic equations below?
What’s the major difference between the 2 “similar” equation?
Income – Saving = Expenses
Income – Expenses = Saving
The answer is: what is the priority? spending or saving?
If your priority is to spend first, then only to save what’s left, it is most likely expenses>savings
If your priority is to save first, then only spend what’s left , it is most likely savings>expenses
Majority of wealthy people are the 2nd type. Saving and investing is their priority!
If you find it difficult to delay your gratification, please engage some system to help you, such as EPF, endowment insurance plan or standing instruction on unit trust purchase. We can even ask our mom to save for us.
Set your priority right and you’ll be on your way to financial freedom.