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Live below your means to build wealth from "summary" of The Total Money Makeover by Dave Ramsey
Living below your means is a fundamental principle when it comes to building wealth. It means spending less than you earn and being intentional about every dollar that comes in and goes out. By keeping your expenses below your income, you create a gap that can be used for saving, investing, and building wealth over time. When you live below your means, you are able to avoid the trap of living paycheck to paycheck. This gives you financial freedom and flexibility to handle unexpected expenses or emergencies without going into debt. It also allows you to save for future goals such as retirement, education, or buying a home. To live below your means, you need to be disciplined and make conscious choices about your spending habits. This may involve cutting back on unnecessary expenses, avoiding lifestyle inflation, and prioritizing your financial goals over...
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