What does frugality have to do with making money with no work, you ask?
There are 2 parts to this equation. The first part is to set up passive income streams and get money flowing into your life. The second part is investing that money wisely without spending it frivolously (frugality) so that it works for you and grants you the freedom to do the things you really want to do in your life.
Most of you are probably thinking “I want to roll in a limo and spend like a millionaire! Show me how to make enough money to do that!”
This is not the answer, nor is it the path to wealth.
Spending frivolously is the enemy. Each purchase you make, each extravagance you indulge in is another payment you will have to make in the future. Even if you pay cash up front for something you don’t truly need, you are throwing away future hours of your life.
This is because that money could have been invested (more than simply “saved”), and could in turn generate interest for you.
“But I want to live like a rock star, have nice things, and go to exotic places!” you exclaim. Can’t I have fun with my money and create wealth too?
Yes you can. You can live like a rock star and have plenty of fun, but you need to know exactly what you’re spending your money on, and not just continue to buy junk.
If you take an inventory of your life–or even of the past few years–and total up all the money you’ve wasted, all the unnecessary junk you’ve purchased, what would that money look like if it had been continuously dumped into an investment account?
Frugality is not about being cheap and boring
This doesn’t mean you have to live like a miser and eat sardines every night for dinner. But you have to start asking yourself: what do you really want out of life? Do you want to slave away for 40 hours + each week just to accumulate a nice house that is chock full of all of this ridiculous stuff? Or are you sick and tired of selling your hours of life away just so you can accumulate more stuff and just continue to exist?
Frugal living is one half of the equation when it comes to demanding your life back. You can start doing this right now, even before you’ve made any steps to generating an automated income.
To learn more about frugality, and how you can start taking your life back and gaining freedom right now, head on over here and learn from the master himself.