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Hello My friends,
This is very important lesson,
There are two dangers that you must be alert to on your journey to financial independence. Either of them can undermine or even destroy your chances of achieving your financial goals.
The first is explained by what is called Parkinsons Law.
It says expenses always rise to meet income.
To achieve financial independence, you must consciously, deliberatly. and regularly break Parkinsons Law.
Your expenses may rise as your income increases, but you must never allow your expenses to rise so high that they consume everything that you are earning.
Here is how to break Parkinsons Law. When ever your income increases, resolve to save half of that increase, and spend half.
If you get a salary increase of 200.00, save 100.00of it and only spend what is left on your lifestyle. Make this a habit and your financial future is guaranteed.
-Brian Tracy-
Aaron and Kathy
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