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Throwing away an old rule
February 12th, 2013 | Getting Rick Slowly | by El Nerdo.

GRS rule #3 says, “Spend less than you earn.” But why should we continue to do that always? Because of tradition? Because of authority? Because that’s what everyone else claims they are doing? To the guillotine with the old rules, I say. It’s time for revolution!

It’s time to turn the old laws upside down. It’s time to say something better. It’s time to declare a new rule #3:

“Earn more than you spend!”

Putting earnings first

“Earn more than you spend” places the emphasis on the earning end of the formula. We want to get rich slowly, not live poor comfortably. And for this we need to make enough money so that our surpluses can actually get us rich.

PF articles of recent years have tended to treat income as a fixed quantity, touting savings as the great challenge ahead. I’d like to make a different call to arms.

When we put earnings first, we task our intelligence and imagination with finding ways to make more money, instead of asking them to figure out 101 ways to squeeze blood from a stone.

Please understand that I don’t equate “making more money” with “spending 14 hours at the cubicle every day of the week and never seeing the kids.” Money is an expression of economic value. If we can manage to increase the value of what we give to the world (products, services, labor), then we can increase our income without excessive toil, and we can find time for family, and friends, and vacation, and all the good things in life.
personal_finance  rules_of_the_game  inspiration  productivity  personal_enrichment 
july 2017 by jerryking
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