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Why Morgan Housel Said, “Wealth Is What You Don’t Spend”
Spending is attractive, building wealth takes time
Here’s the complete quote: “Wealth is what you don’t spend, which makes it invisible and hard to learn about by observing other people’s lives. Spending is contagious; wealth is mysterious.”
Morgan Housel is the author of The Psychology of Money: Timeless lessons on wealth, greed, and happiness. I pre-ordered it. It’s a great read.
It’s on my re-read list.
Building wealth can be a long-term game.
It’s not just about making more money but spending less and investing wisely.
In the modern world, many of us are taught to want more. We want bigger houses, fancier cars, and a designer wardrobe.
But the truth is that all of this spending can add up and compound against us.
When we live in such a consumer-driven society, it’s easy to lose sight of what matters when it comes to wealth.
You can live a life of wealth without spending your hard-earned money on things you don’t need.
“Wealth consists not in having great possessions, but in having few wants,” says Epictetus.
