Reply to What money habits keep you poor?

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[quote=Anonymous][quote=Anonymous][quote=Anonymous]1. Lack of spending discipline. - not a problem
2. Lack of earning power - yes
3. Lack of work discipline. not a problem
4. Lack of financial literacy. yes
[b]5. You are not paying yourself first. eh?[/b]
6. Impulsive buying. not a problem
7. Broke people are influencing you. not a problem
[b]8. Selling your time for money is your only income. eh? [/b][/quote]

'Paying yourself first' mean that the first payment you make from your salary is in your retirement account and your savings/investment account. It means you are paying yourself first.  It also means that you have a good handle of ho much money you actually are left with in each pay cycle for housing, childcare, food, insurance, royalties, utilities, loan repayment, utilities etc.

'Selling your time for money is your only income' means that you are only earning money from your job.  You are not generating passive income from rent, dividends, stock market, options, side hustles, copyright etc.  Jerry Seinfeld did not get rich because he acted in a TV serial. He got  rich because of other gigs, reruns and royalties (https://moneymade.io/learn/article/jerry-seinfeld-net-worth)[/quote]

Thanks for explaining. I put money into savings every other month. I only earn money from my job.[/quote]

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