Page 14 - THE SCAM OF RICHES

Chapter 5

Income disposal

So far I have made it clear that consuming your entire income each month is not the way

to go to becoming rich. So what is a man to do with his income? Save everything? Save
10%? What exactly is a man to do?

Well, before you get your next income you need to call a meeting with yourself and ask

yourself the following questions:

Who am I?

What are my major hopes, dreams and aspirations?

If I continue as I am now, will I ever achieve my dreams?

If not, what can I begin to save from today towards my dreams?

What expenses can I scale down, so that I can save more?

You see, it’s important to save, but not just to save but to have a BUDGET.

And to make a budget, you need to first track your total expenses for at least 30 days.

Write down everything you spend money on and every single person you give money to
and the amounts involved. Write it all down in a notebook. You will have to carry the
book around, so that you can write entries down immediately they occur because if wait
till later in the day, you may well have forgotten the details, or the amounts involved.

You need to find out what exactly you are spending your money on every month. It will
prove to be quite a revealing exercise.

You may find out you are spending a fortune on credit and data alone. You may be
shocked out of your skull to discover the huge amount you are spending on feeding every
day, especially if you habitually eat out. And you may totally faint when you see how

much you have been doling out as gifts to everyone that asks. It will be an eye opener.

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