Most people believe that money is meant to be spent for articles of instant gratification as a reward for their efforts. These same people usually live beyond their means and fund their lifestyle with debt. They spend their leisure time in activities that have no real value, such as watching sports or reading novels.
Entrepreneurs know that to be successful one needs to keep personal spending and bad debt low. They spend their leisure time reading self-help or business related books, volunteer, and build personal networks, or watch the news to keep up with current events.
In their book, The Millionaire Next Door, Thomas Stanley and William Danko interviewed successful and wealthy individuals and discovered that they live well below their means.
Entrepreneurs and millionaires believe in delayed gratification and know that the key to financial security requires investment in both time and money.
Do you see money as a reward that should be spent today or as something saved and invested for financial freedom tomorrow?
