I Wish They Taught That In School Podcast Episode 2

I’m back with episode 2 and by popular demand, I am tackling some difficult questions about money. Today I talk about one of the fundamental differences between how people spend their money. I am not suggesting that this is the only thing to think about but this is a big one. People who get rich spend their money on things that make them money such as a business, a stock, a rental property. People who do not get rich or get poor just spend all their money, usually on things or buying on credit. Using credit is basically the opposite of getting rich. It is becoming more poor. If you can save a little tiny bit each month and put a bit of money into a tax protected account like a Roth IRA or a 401k and pay off your credit cards, that is a great path to building wealth.