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Learning to live below your means is key to financial freedom from "summary" of The Psychology of Money by Melody Jefferson,Morgan Housel
One of the most important principles when it comes to financial success is the idea of living below your means. This concept is all about spending less money than you make, and it is crucial for achieving long-term financial stability. When you consistently spend less than you earn, you are able to save and invest the difference, which can help you build wealth over time. Living below your means requires discipline and the ability to resist the temptation to overspend. It means making conscious choices about how you allocate your money, prioritizing your long-term financial goals over short-term gratification. This can be challenging in a society that often encourages excessive consumption and instant gratification, but mastering this skill is essential for achieving financial freedom. By living below...
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