shutterstock_106824620I’m going to share with you the secret to becoming rich. Perhaps it’s the season of giving or maybe even a little too much Christmas cheer, but I’m going to share with you the key to a life of wealth.

It’s actually very simple in theory, however in many cases requires an overhaul of how you live your life.

The unbelievable thing about what I’m about to reveal is so many people aren’t doing it, because if they were there wouldn’t be too much financial struggling going on. Yes, there would still be the usual grumbling about taxes and budget cuts, but most people would be happy enough.

I think I’ve built up enough hype already so here it is… The secret to wealth and financial security is … to spend less than you earn.

OK…Now you’re thinking “Thanks Captain Obvious”. You got me; this isn’t a secret, but the way that people spend money and live beyond their means, you could be excused for thinking that maybe it is. If this is so easy, why aren’t people doing it? Why are tax returns spent on designer labels or overseas holidays? Why do people have the latest smartphones on $100 monthly plans and continue to say they’re struggling? Why do they buy cars that are worth as much as their annual salaries?

The biggest difference between someone who is swamped in credit card debt and someone who is debt free isn’t luck or income level. It’s self-control and the willingness to say no to most impulses. To clear debt and build wealth you must spend less than you earn.

Most of us have new cars, wardrobes and more electronic gadgets than 007. We have expensive taste in everything; online shopping makes it easier than ever to spend before you earn and we’ve made consumerism a national pastime.

The reality is most of us can’t keep spending like a Kardashian. Nothing is more important than your future. And the easy solution to having money for hard times is to spend less now.

Starting to save money is not as difficult or daunting as it might seem and can be as simple as transferring $100 each pay day into a separate bank account you don’t have access to via an ATM. Over time you’ll get better at understanding your finances, what parts of your budget you can trim back, and what parts are entirely unnecessary.

You can live your life habitually spending your wages. Thinking “if they can afford it then I can too”. If you listen to the media they will tell you that it’s the system and everybody’s struggling. But you don’t have to go down that road. You can decide to not make excuses. You can take the less common path and spend less than you earn.

You’ll be surprised just how quickly your savings can accumulate over time.

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