Financial independence comes from living below your means from "summary" of PSYCHOLOGY OF MONEY. by MORGAN. HOUSEL
Financial independence is a goal that many people aspire to achieve. It is the freedom to live the life you want without being shackled by financial constraints. One of the key principles to achieving financial independence is living below your means. This simple yet powerful concept forms the foundation for building wealth and securing your financial future. Living below your means means spending less than you earn. It involves making conscious decisions about your expenses and prioritizing long-term financial security over short-term gratification. By living below your means, you create a gap between your income and expenses, which allows you to save and invest for the future. This gap is where financial independence begins to take shape. By consistently saving and investing a portion of your income, you can build a nest egg that will provide financial security and f...
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