Most of us have been told by our parents to save our money. I am saying the only thing you should have put aside is an Emergency Fund.
Why only an Emergency Fund.
- Anything can happen, your car may break down, a sudden illness or loss of a love one.
- It will help you cover the above expensive without any major interruptions.
What you should do with the rest of your income is to invest it to built wealth. Having money sitting in a bank is dumb and dangerous. Inflation alone will eat away at it. I remember when a tin of sardine use to cost .99c and it is now $4.95.
Put your money to work whether it is a side hustle, standard business, real estate or stock market.
Your aim should always be to generate a positive cash. Meaning money should be constantly flowing in and out of your bank accounts.
A positive cash flow simply means that every money that you deposits should always be more that your withdrawals and it must be constant . It like a living being. The heart is the bank, and your blood vessels are your investments and your blood is cash flow. Oxygenated blood is deposits and deoxygenated blood is withdrawals.
That is how wealth is built. Their must be a constant flow of cash.