Are You Hampering or Assisting Your Financial Freedom?

The difference between being poor and being wealthy is not how much money you have, but rather what you do with the money that flows through your hands throughout your lifetime. So if you are working towards financial freedom, or you want to provide “generational wealth” for your family, the question to ask yourself is, “Are you being a poor person, or wealthy person, with every dollar that touches your fingertips?”
If making “a lot” of money was the key to becoming wealthy, lottery winners, professional entertainers, and professional athletes would not end up broke after the money runs out.
It is ironic that most of the emphasis in the home business industry is put on making more money. Few people seem to consider what to do with the money after they make it.
We are taught to put things like our dream homes, expensive automobiles, and exotic vacations on our vision boards to motivate us to take consistent actions to reach our goals.
When we do finally start making “a lot” of money…the first thing that we do, is run out and buy a bunch of stuff.
It may not be the same stuff that we have habitually spent our money on, at places like Walmart or Target, for the majority of our lives. It may be more expensive stuff, like the stuff on our vision boards.
This is what poor people do when they get money. They buy stuff. Wealthy people buy assets.
A financially ignorant person may argue that his luxury home and expensive automobiles are assets. However, that is what the banker wants you to keep believing.
An asset is something that makes you money. Liabilities cost you money.
Poor people buy stuff. Middle-class people buy liabilities. Wealthy people buy assets, and they use the cash flow from the assets that they own to buy the stuff that they want.
The middle-class is becoming a thing of the past, so if you are spending all of your money on stuff and liabilities, you might as well consider yourself poor.
This article is not meant to make you feel guilty for buying the things that you so badly desire.
Just realize that we are creatures of habit, and if we have had habits of a poor person for the majority of our lives, then those poor person habits are not going to magically disappear when we start making money.