Nasdaq has reposted a blog from NerdWallet that shares real stories on how more money equals more problems. I should know, because I’m one of those featured! It’s been a long time since I worked a 9-5, but I remember the very first “big raise” I got, to the tune of $15,000 per year. However, instead of investing or otherwise putting my money to work, I sprung for a BMW. From that point forward, it didn’t matter how much my wealth increased. I spent exorbitantly to keep up this lifestyle, which is the downward debt spiral so many people get trapped in.
Now that I make much more than I did at the time, I still practice frugality (which was learned the tough way!). After a few years in an office, getting small raises and raising my spending right along with it, I decided I’d had enough. I scrimped, paid off loans, sold my car for an older but reliable model, and moved in with roommates. Only then did I finally learn what true wealth really meant—freedom from debt.
Are you ready to get truly wealthy? Find out more stories here:
