You should start saving more

Being poor is not having too little, it is wanting more. — Seneca

Your wealth depends more on your saving rate than your earning rate. If you earn $1 mil but spend $1.5 mil, you are poorer than someone who earns $30,000 but only spends $15000 per year.

You don’t need high income to save money. Once you can cover up the basic expenses and a level above for a more comfortable life, everything else is a display of how much money you have (or had). So, it’s important to live below your means and keep your ego in check.

One of the most powerful ways to increase your savings isn’t to raise your income, but your humility. — Morgan Housel

Beware of lifestyle creep. Most people’s expense grows as fast (or faster) as their income. You need to be mindful about your expenses and your spending habits.

You don’t need a reason to start saving. The goal of saving is to be prepared when life throws a curve ball at you.

Saving money has more intangible values than tangible ones. When you have savings that you can rely on, it gives you control of your time, a peace of mind, and the ability to pounce when opportunity arrives.

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