Here is a quick outline for you to understand money: Understand the difference between income and net worth and have a personal net worth goal.
When you are working on your net worth goal, you will see and appreciate the importance of accumulating money. You will realize that you have to add money monthly as well as invest it wisely, unless you start investing when you are one year old, then time is on your side, but if you are starting later in life , it’s “all hands on deck.”
You will begin to recognize that a big portfolio is one of the most stress-reducing things you can do for your life. When you begin to accumulate your nest egg and accumulate $250,000, $500,000, $1 million or multi-million dollars in your portfolio, your decisions on what to spend your money on will change.
Up until you set this new net worth goal, and NOT an income goal, you will probably have spent your money based on your revenue. What if you began spending your money after you have made a deposit into your portfolio first? It can be a false belief to the beginner who thinks they have an extra $10,000 a month in income when they aren’t putting at least $7,000 of that into their net worth, giving them only $3,000 to spend frivolously. To the school owner that has an extra $30,000 a month in income should be investing $25,000 of it.
Saving and investing is difficult. If it was easy, everyone would accumulate a stack of money in their portfolio. When you finally appreciate and REALIZE the power of the stock market, I promise you will be MOTIVATED to see your NET WORTH GROW. Seeing this will discipline you to put as much money into your portfolio as you can monthly.
My personal experience is this: I found over the last eight years of this process that there is always MORE money you can find to invest into your net worth. The older version of me (before I decided to build my net worth and get into the stock market) found there was ALWAYS something ridiculous to spend my money on and that was moving me further away from financial freedom instead of towards it.
When the reason is BIG enough, we find a way. Until then, you WILL find an excuse.