As usual, Rick Kahler has written an article full of great, practical ideas. In this article, he talks about the things we often do to save ourselves money which often turn out to do just the opposite.
Enjoy and Learn, Steve
People who successfully build wealth have one trait in common: they understand the art of frugality.These unassuming millionaires know how to live on much less than they make, and they know how to save money. But those behaviors alone aren’t enough. Not spending money today does not always result in having more money tomorrow.
Frugality for its own sake can result in doing without things that matter to you, failing to take care of basic needs like your health, and living with a sense of deprivation. It can also lead to spending more money, not less, in the long run.Frugality for the sake of enhancing your life, on the other hand, features an eye for value. Most people who build wealth are masters at the art of getting value.
read the full article here: Rick Kahler: Build Wealth With Focus on Value, Thrift | Financial Awakenings.