When you get a loan to buy something that depreciates over time, something whose current value is its highest ever, you have borrowed. It’s what poor people do! When you borrow to buy or get involved in anything that appreciates in value, you are leveraging.
It’s only the elevator that moves you up without moving yourself. When that elevator is out of order, you will be trapped. Many people don’t think carefully before getting trapped.
You must understand that self-discipline is the greatest asset and the number one rule of wealth creation. To create lasting wealth, you must be able to master and discipline yourself so that you can adequately follow the laws of money and wealth creation.
Until the prodigal son did a critical audit of his life, he was OK with eating pig food. Do an audit! If you are spending more than you earn, your future is not bright! Confession does not cure when actions do not change!
Money is currency and it flows from hand to hand; the rich get richer and the poor get poorer. That is why the most important step to financial freedom is through savings. True investment begins with a good saving culture.
Often times we think some people are created rich while others poor. How wrong! Why then are some people rich and others wealthy? God did not choose some people to be wealthy and others to be in need. Neither destiny nor luck have anything to do with it.