Own Your Home
Many of our friends complain about what they don't have, and we are also sometimes guilty of this. People may also say that successful individuals have privileges, luck or better opportunities. They also forget to appreciate what they do have around them.
Housing is a sensitive topic. The initial downpayment and financial burden are often too heavy to bear. George recognizes this and suggests owning a home if you can. Move back in with relatives or split up your rent with others. Rent takes up a significant part of most incomes. During the pandemic, eviction was a high possibility for thousands of Americans. Society has colored moving in with family as a step back, but it is at times a necessity to gain financial freedom.
Appreciate opportunities to save on housing expenses. The worldwide cost of rent is on the rise and renting an apartment can get in the way of your goals. Rent can wipe out your savings and make you indebted to your landlord.
George recommends you stop caring about the opinions of society and focus on your financial goals.
Want to take more financial steps that support your retirement fund? Check out George Clason's, The Richest Man in Babylon.
This article is part of our Business Coaching blog series. At Dataczar we talk to a lot of small businesses. We’ve found a few books that we keep recommending time and again. To better help our customers, we’ve added a Reading List for Small Businesses to our website. We encourage every small business owner to read and keep these timeless business books on their office shelf.