FMOOD 0088: Income Does Not Determine Wealth - a podcast by Tom Merlino | Tom is inviting you to follow him on his journey to get out of debt and get into prosperity.
from 2017-03-14T06:00
Do you know of folks who seem to earn a higher income but are struggling just as much (if not more than) folks who are earning less? Why is that? The simple answer is that wealth is not exclusively dependent on how much we're bringing in. It depends mostly on behavior. It depends on what we decide to do with the income that we are earning, how we're spending it, and how we're prioritizing our spending.
While income does have something to do with wealth building, it is not the end-all-be-all determining factor as to whether or not wealth will eventually happen one day. What's more important is that you keep a focus on prosperity as your goal while you are in the process of getting out of debt. What's more, folks who earn more per year will likely be offered more to borrow. The amount of debt can easily be kept in-line with annual household income because banks and other financial institutions that make the loans will allow more to be borrowed as annual income increases. That means that folks who seem to be living a rich life may very well be in more debt than you realize. They need just as much as help as someone who may not be earning as much but is still struggling and living paycheck to paycheck.
Your best bet to get on the path to wealth is to correctly prioritize the resources that are available to you right now. Stand out by being the one who's different and spending your financial resources on reducing and eventually eliminating debt, then start your new goal of getting into prosperity once you are out of debt. If you do this, don't be surprised if one day you end up being the underdog who comes out on top on the road to wealth creation.
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