Spend less and make more. That’s the simplest financial advice you will ever get. If you do those two things, you will put yourself in position to save more of your money and invest it toward future wealth.
However, it is very common for people who begin to earn more money to spend more as well. They think, “now that I’m making more money, it is not as important to watch my spending so tightly.” That’s a bad mindset to take. Many people whose income grows often have expenses that grow with it, leaving them no better off financially.
For more on how to avoid this and why it’s important to be frugal no matter how much you make, click here.