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Whit Wisdom: Riches Vs. Wealth

tax-season In honor of tax season fast approaching, I want to talk a little about money.

Usually this is the time I see my people “flourish” for just a short time period, making hasty spending decisions. Living beyond our means is a flaw in our society that makes the debt ceiling grow higher and higher.

We have this thing with being rich and having things, but what about being wealthy? Being rich and being wealthy are two very different things and I’m neither! However, this year I want I educate myself on finances and do a better job with creating stability and wealth for myself. Knowledge is the key.

Just a few eye openers:
Rich people spend money, wealthy people invest money.
Rich people are impulsive, wealthy people plan their spending.
Rich people generate money for themselves, wealthy people generate money for themselves and others.
Rich people usually have poor money management skills, wealthy people are more knowledgeable about money and are great with money management.
Wealthy people are financially free, rich people are not.

It’s important to understand how money works and more importantly, how money can work for you.

I realize everyone doesn’t have the means or mindset to create wealth. However, everyone has the ability to NOT create personal debt. In most instances “rich” people are just a step above being considered poor because once the money is gone, it’s back to zip. Spending money wisely is important for us all.

Keep pressing and spend wisely and create wealth, not debt!

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