When we are young we tend to spend all the income we get. And the quicker we can realize that we should save some of it to invest in creating a second source of income, the better. This will help us to reduce our dependence on our job and have a more stress-free life.
Very often we buy things we don’t need too much. The main reason for buying new things is that we think each new thing will make us feel happier. But we have to admit that in order to have something better in future we should resist our temptation to spend our money on unnecessary things.
We try to save what is left after spending our money on satisfying our primary and secondary needs. However, the more money we have, the more we tend to spend. So it is wiser to save first and then spend what is left.
Taking risks is important step to having more than you have now but nobody should risk everything he/she has. Willing to gain more money as quickly as possible may lead to undesirable consequences. Greed is not a good friend for no one.
Being honest we expect others to have that quality too. However, we shouldn’t forget that honesty is not common among all people in the world.
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