Trylks

Trylks t1_iwj9w21 wrote

Reply to comment by Jak_n_Dax in [image] Stop comparing yourself to others based on what they possess and what you don't. What really makes someone's value is what is on the inside by thinlyBulletin23

Exactly.

I know the message from the title is more about the inside like “mind & soul” of a person.

But I think the image is perfect to explain financial responsibility, and how wealth is defined by assets (under ground), and not by expenses (the visible leaves).

The fable about the Ant and the Grasshopper may be relevant soon, with the recession expected for 2023.

PD: An important lesson, because intuitively people expect proportional expenses and assets, but the reality is counterintuitive, more expenses leaves less savings to put in assets.

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Trylks t1_iwgx37z wrote

Reply to [image] Stop comparing yourself to others based on what they possess and what you don't. What really makes someone's value is what is on the inside by thinlyBulletin23

Reminder: given any income level, savings (or investments) and expenses are complementary.

When you see someone spending a lot of money, that doesn't necessarily mean that they are rich, they are in fact making themselves poorer by spending money, and it is hard to know if they have that money, or they are using credit, i.e. money they hope to have, as with a credit card.

The way to be wealthy, or rich, is spending less and earning more. Rich people spend very little when compared with their earnings. Wealth and frugality go together, usually more than people think.

Luxury items are not so much a symbol of wealth, but a symbol of poor criteria.

A recession is coming. Take care of being safe and fine, and not about someone else's opinions about the brands of the things you use.

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