you think wealth is about how much money you have when it's about how much work your money does. it is called velocity of money.
pay attention, i'll change your mindset about finance that will help you grow
for eg: if you have $10 and spend it on something maybe food or data, you get $10 worth of value and then it's gone. there's no return but if you take that same $10 and use it to buy goods to resell, then take the profit and reinvest it, your money begins to compound. you could turn that same $10 over 3, 4, 5 or even 6 times in one month. that same $10 could create $40 or $50 in total value cos it never stops moving.
this is why wealthy people focus heavily on cash flow not savings. savings are static. inflation eats away at it but money with velocity multiplies. money that keeps moving keeps multiplying.
your money should not be sleeping, your money should be moving. that is how you multiply wealth so the question is not, how much do i have? the question is, how fast is my money working? how fast is my money moving? how fast is my money compounding? and how effectively is my money multiplying? because your money has power
that is what you should be thinking about. stick with me and learn more about finance and other nuggets, buena suerte ๐
my perception on income & wealth;
most people think a high income makes you rich. it doesnโt. a doctor earning $20k/month but spending $19.5k is building less wealth than someone earning $5k/month and investing $2.5k consistently.
income pays your bills but wealth buys you freedom, your lifestyle should grow slower than your income.