Weโve all been there. Youโre cutting costs, skipping the "extra" meat in your soup, and trekking some distances just to save that small change. 
Youโre being "frugal," but somehow, the bank balance is still not balancing.
I know people who've been "saving money" for 20 years and are still living paycheck to paycheck. Why? Because they're so focused on cutting expenses that they forgot the other side of the equation: ๐ฆ๐๐ค๐ข๐ง๐ ๐ฆ๐จ๐ซ๐ ๐ฆ๐จ๐ง๐๐ฒ
If you feel like youโre doing everything right but still stuck in the same spot, hereโs the bitter truth...Frugality alone won't make you wealthy. In fact, if youโre not careful, it can keep you broke.
Here is why...
๐๐ก๐ "๐๐ก๐๐๐ฉ ๐ข๐ฌ ๐๐ฑ๐ฉ๐๐ง๐ฌ๐ข๐ฏ๐" ๐๐ซ๐๐ฉ
You buy a "fairly used" generator because itโs 40% cheaper than the new one. Two weeks later, youโre calling the mechanic every three days.
By the time youโre done, youโve spent more on repairs than the cost of a brand-new one.
Sometimes, "Awoof" or "Cheap" will show you pepper. Saving money on low-quality items is actually a debt youโre paying in the future.
๐๐ง๐๐ฅ๐๐ญ๐ข๐จ๐ง ๐ข๐ฌ ๐๐จ๐ญ ๐๐จ๐ฎ๐ซ ๐ ๐ซ๐ข๐๐ง๐
Keeping all your money in a regular savings account is like trying to carry water with a basket.
While youโre "saving," the price of cement, rice, and fuel is doing marathon races.
If your money isn't growing faster than inflation, youโre technically losing money every day.
๐๐จ๐ฎโ๐ซ๐ ๐ ๐จ๐๐ฎ๐ฌ๐ข๐ง๐ ๐จ๐ง "๐๐ฎ๐๐ญ๐ซ๐๐๐ญ๐ข๐ง๐ " ๐ข๐ง๐ฌ๐ญ๐๐๐ ๐จ๐ "๐๐๐๐ข๐ง๐ "
Frugality is about shrinking your life to fit your income. Wealth is about expanding your income to fit your dreams.
If you spend 5 hours a day looking for where to save โฆ500, youโve used โฆ5,000 worth of time to save "change."
You can only cut your expenses to a certain point (you must chop, abi?), but thereโs no limit to how much you can earn.
๐๐ก๐ ๐ ๐๐๐ซ ๐จ๐ "๐๐ฉ๐๐ง๐๐ข๐ง๐ ๐ญ๐จ ๐๐ซ๐จ๐ฐ"
I see people who refuse to pay for a course or a mentor because "itโs too expensive," but theyโll happily stay on the same salary for five years.
Don't be so frugal that you starve your own growth. You are your greatest asset. If you don't "invest" in yourself, you won't "manifest" the big bags.
Being frugal is great for discipline, but increasing your Income are the real game-changer
Stop focusing only on how to save 1k; start thinking about how to earn an extra 100k.
Save smart, yes. But also earn smarter.
What's one thing you're doing this year to increase your income?
Demola Adegbola
Youโre being "frugal," but somehow, the bank balance is still not balancing.
I know people who've been "saving money" for 20 years and are still living paycheck to paycheck. Why? Because they're so focused on cutting expenses that they forgot the other side of the equation: ๐ฆ๐๐ค๐ข๐ง๐ ๐ฆ๐จ๐ซ๐ ๐ฆ๐จ๐ง๐๐ฒ
If you feel like youโre doing everything right but still stuck in the same spot, hereโs the bitter truth...Frugality alone won't make you wealthy. In fact, if youโre not careful, it can keep you broke.
Here is why...
๐๐ก๐ "๐๐ก๐๐๐ฉ ๐ข๐ฌ ๐๐ฑ๐ฉ๐๐ง๐ฌ๐ข๐ฏ๐" ๐๐ซ๐๐ฉ
You buy a "fairly used" generator because itโs 40% cheaper than the new one. Two weeks later, youโre calling the mechanic every three days.
By the time youโre done, youโve spent more on repairs than the cost of a brand-new one.
Sometimes, "Awoof" or "Cheap" will show you pepper. Saving money on low-quality items is actually a debt youโre paying in the future.
๐๐ง๐๐ฅ๐๐ญ๐ข๐จ๐ง ๐ข๐ฌ ๐๐จ๐ญ ๐๐จ๐ฎ๐ซ ๐ ๐ซ๐ข๐๐ง๐
Keeping all your money in a regular savings account is like trying to carry water with a basket.
While youโre "saving," the price of cement, rice, and fuel is doing marathon races.
If your money isn't growing faster than inflation, youโre technically losing money every day.
๐๐จ๐ฎโ๐ซ๐ ๐ ๐จ๐๐ฎ๐ฌ๐ข๐ง๐ ๐จ๐ง "๐๐ฎ๐๐ญ๐ซ๐๐๐ญ๐ข๐ง๐ " ๐ข๐ง๐ฌ๐ญ๐๐๐ ๐จ๐ "๐๐๐๐ข๐ง๐ "
Frugality is about shrinking your life to fit your income. Wealth is about expanding your income to fit your dreams.
If you spend 5 hours a day looking for where to save โฆ500, youโve used โฆ5,000 worth of time to save "change."
You can only cut your expenses to a certain point (you must chop, abi?), but thereโs no limit to how much you can earn.
๐๐ก๐ ๐ ๐๐๐ซ ๐จ๐ "๐๐ฉ๐๐ง๐๐ข๐ง๐ ๐ญ๐จ ๐๐ซ๐จ๐ฐ"
I see people who refuse to pay for a course or a mentor because "itโs too expensive," but theyโll happily stay on the same salary for five years.
Don't be so frugal that you starve your own growth. You are your greatest asset. If you don't "invest" in yourself, you won't "manifest" the big bags.
Being frugal is great for discipline, but increasing your Income are the real game-changer
Stop focusing only on how to save 1k; start thinking about how to earn an extra 100k.
Save smart, yes. But also earn smarter.
What's one thing you're doing this year to increase your income?
Demola Adegbola