Keep your expenses low to increase your savings rate from "summary" of Rich Dad's Guide to Becoming Rich Without Cutting Up Your Credit Cards by Robert T. Kiyosaki
One of the key principles of building wealth is to keep your expenses low. By minimizing your spending, you are able to increase your savings rate, which is crucial for achieving financial independence. This concept is based on the idea that the less you spend, the more money you have left over to save and invest in assets that generate passive income.
When you keep your expenses low, you are able to live below your means and avoid falling into the trap of lifestyle inflation. Many people make the mistake of increasing their spending as their income grows, but this only serves to keep them stuck in the rat race of working to pay off debt and cover their expenses. By keeping your expenses low, you are able to break free from this cycle and s...
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