Cut expenses, save and don’t take on debt. You can only cut expenses and save so much on a fixed income. For most people it won’t be life changing. I think there is a large aspect of wealth building that they leave out and that’s learning how to use debt to generate additional income. I wish someone taught me that when I was young instead of running up my credit cards on one time purchases or assets that don’t generate income.
Important_Expert_806 t1_j40hrei wrote
Reply to What pieces of advice are we better off ignoring? [Discussion] by TreatThompson
Cut expenses, save and don’t take on debt. You can only cut expenses and save so much on a fixed income. For most people it won’t be life changing. I think there is a large aspect of wealth building that they leave out and that’s learning how to use debt to generate additional income. I wish someone taught me that when I was young instead of running up my credit cards on one time purchases or assets that don’t generate income.