Those who really desire to attain an independence, have only to set their minds upon it, and adopt the proper means, as they do in regard to any other object which they wish to accomplish, and the thing is easily done. It sounds so easy… But most of us know its otherwise.
The simple equation to earning a suitable income is to spend less than what we earn. Placing the context in real life-situation, we could subtly suggest that for a man earning, let”s say, a $1000 and spends a thousand and fifty each month lives a miserable life whereas a man earning the same amount but spends 950 dollars each month is a happy mortal.
Many of us will say, “We know this is the real world. We know we can”t eat our cake and keep it also”. Yet a lot of experts say that perhaps more cases of failure arise from mistakes on this point than almost any other. The fact is, many people think they understand economy when they really do not.
The true meaning of economy is misapprehended, and a lot of people go through life not properly understanding its principle. Placing another example, let”s say, there are two men who has the same high income range, yet one of them gets something ahead every year while the other falls short. We see there is a difference with the way they handle their money.
There are people who think that true economy consists of cutting down food consumption, wear rags for clothes, or doing all sorts of alternative methods that they may deny themselves sometimes of life”s essentials. The misfortune lies in thinking they are wonderfully economical in saving a dollar here or a dollar there and later on squander in other directions.
Does that sound like a familiar scenario to you?
A female employee brings her own food to her workplace to avoid buying from canteens and nearby restaurants. She is able to save a good enough sum to put into short-term investments to make her money grow. Unfortunately, she is a credit card addict and purchases a lot of clothes, make-ups, gadgets from retail stores and online. In the end, she needs to save more from her next salary to pay her bills because her total expenses exceeds her saved income.
With this usual scenario in mind, what then is True Economy?
