REASON # 7 – You look at what you can buy with
your salary increase – not how much you can save.
I know many people that have homes to die for. The only
problem is that their mortgage is bigger than the house!
The equation is simple – if you increase your borrowings in
line with your salary you will be poor when you retire. If
you increase your savings in line with your salary you will
become rich when you retire. It’s really that simple.
In the classic book “The Richest Man in Babylon”, George S.
Clason wrote that if you saved 10% of your salary every
month…you would become rich. Although the book was written
in the early 20th century…it’s probably more relevant than
Save a proportion of your salary every month…even if it is
only 1%. And make sure that you cannot easily access it. If
you do this…not only will you have some money behind you
…but you will also get into the habit of saving.
Believe me…once you get into that habit…you will get as
much pleasure from saving and investing as you do from
It may seem unbelievable to you…but take my word for it –
“11 Reasons Why You Will Never Succeed” By Gary Vurnum