@financialtip1: "The Leaking Bucket of Wealth" It’s true — money leaves faster than it comes. Why? Because earning is slow, but spending is instant. Unless you put systems in place, your money will always flow out quicker than it flows in. 1. Impulse Spending In The Psychology of Money, Morgan Housel explains that people often spend to impress others, not because they need to. One bad purchase can undo weeks of hard work. 2. Lifestyle Inflation As income rises, expenses rise to match it. This trap, explained in Rich Dad Poor Dad by Robert Kiyosaki, keeps even high earners broke. 3. Lack of Budgeting Without a plan, money behaves like water in a leaking bucket — gone before you notice. The Total Money Makeover by Dave Ramsey emphasizes that every shilling must be assigned a job. 4. Debt Culture Borrowing to maintain appearances accelerates how fast money leaves. The interest you pay makes money leak even faster. 5. Discipline vs. Desire Earning requires time, skill, and effort. Spending only requires a tap, a swipe, or a moment of weakness. That’s why financial discipline is the difference between growing wealth and losing it. #motivation #entrepreneur #money #investing #investing

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Sunday 24 August 2025 13:53:26 GMT