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Episode 2888:
Lisa Harrison challenges the common habit of living paycheck to paycheck, even with a high salary, by advocating for a lifestyle that prioritizes living below one's means. She offers practical tips on budgeting, tracking net worth, and cutting unnecessary expenses, empowering individuals to break free from financial stress and build real wealth.
Read along with the original article(s) here: https://madmoneymonster.com/2017/05/01/how-to-stop-being-broke-with-high-salary/
Quotes to ponder:
"High salary or not, look around you and you’ll likely see your friends buying bigger houses, new cars, etc. In order to keep up with this kind of lifestyle, even for high-salaried couples, you’re probably going to be broke."
"The quickest fix to stop being broke with a high salary is to Live Below Your Means. It’s the oldest wealth-building secret in the book, and yet it escapes most of us."
"Be an individual. Go against the grain. And wonderful things will happen."
Episode references:
Stop Acting Rich: https://www.amazon.com/Stop-Acting-Rich-Start-Living/dp/0470482559
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