Financial Experts: Savings Without Specific Goals Is Just Squandering

Bear in mind that money is just a tool, not a boss. Knowing how to spend money to make money instead of just saving without a particular purpose, soon our lives will change.
Anthony Moore is a famous financial writer, often writing articles for Business Insider, Fast Company, Thought Catalog, CNBC... He once shared that although he did not grow up in poverty, he was deeply imbued with financial precarity.

Source: Medium

Moore said: "In 2006, my father's construction company went bankrupt because of the economic crisis; the whole family became empty-handed. We lost our car, were evicted from our home, and owed tens of thousands of dollars without taxes.
My father had to go abroad to find work, and I stayed at a friend's house and slept on the sofa for the last two weeks of my 12th grade." It was that unforgettable experience that made him appreciate money, always looking for ways to earn and save money.
Remember, money is just a tool, not the boss deciding what we do. According to Anthony, we should make money instead of letting money make us. The more we spent on unnecessities, the less independent we are without money. Speaker Neil Patel once said: "It's dumb to keep chasing after the latest technology gadgets, luxury supercars, trendy toys, just because owning them makes us feel vividly up-to-date."
The rich are always looking for ways to use money to make money, while the poor are constantly in debt. Many wonder why they are empty every month without looking at how they spend and save. The rich enjoy luxuries from the money they earn from other money; meanwhile the poor enjoy luxuries from their own sweats.

Invest in yourself

Source: Money Lover

If you want to be rich, invest in yourself. This financial writer said: "By spending money on these, I have made a lot out of them: online courses; personal coaching (sports, finance, therapy, spirituality...); books; healthy foods; things for better sleep.
Of course, we can still buy what we want. However, buy them with the profit after using money to make money, instead of fixed monthly salary.
Famous American businessman and speaker Dave Ramsey said: "Saving without a goal is to throw away. Your money must be used to make a profit, not to be put in a place". It is a fact that people only know how to work to make money, but do not know how to make a profit.
In his book, “The Richest Man in Babylon,” George S. Clason said that he considered every penny a worker. And of course, each of these workers has the ability to give birth to many other workers. Basically, every coin we earn is a seed that can sprout into new coins - that's the essence of "money begets money".

Never save money for no purpose

Source: Lehner Investments

When we save money, we are wasting its potential. Self-made millionaire Ramit Sethi once said, "If you keep your money in one place, you will lose money every day because of inflation". In fact, prices increase by an average of 2%, while wages only increase by 1%, not to mention inflation. The more money we don't use, the more it is wasted.
Understanding that, Anthony Moore has found a way to use money profitably, that is, learn to invest. "Most people don't know what it's like to wake up and find out that you've made hundreds or thousands of dollars more while you sleep," he said.
The author of "Rich Dad, Poor Dad" Robert Kiyosaki once said, "The rich get richer by constantly reinvesting profits into assets." In this world, there are always injustices that make the poor remain poor, no matter how hard they try. However, we cannot sit still and wait for the world to change.
Instead, we can continuously invest in ourselves, learning, growing, and acknowledging more areas. Speaker Scott Adams once shared, "Every new skill you learn doubles your chances of success." The more we know, the better we are, the easier it is to get rich.
H/T: medium.com