I learnt this from one of my mentors, Robert T.
Kiyosaki, the Number 1 New York Times Bestseller Rich Dad Poor Dad.
When we are young, we go to school to get good grades.
Now that we are grown up, we get a job yet still struggling to make ends meet.
We know that to be wealthy we need to invest.
So, what is it that we are doing wrong? Why do we not have money to invest while others can? It is usually due to the fact that we did not pay attention to our financial report card.
We failed to track and manage our income and expenses.
To be wealthy, you will need to find out where you can squeeze some money to invest.
First, 1) List down all the source of income(s) you have per month.
Most people only have one, which is his salary.
2) List down all outgoing expenses.
Note that there are some expenses that repeat every month, some every quarter, some every year.
Do it as detailed as possible.
You will need to do it a few times.
Next, 1) List down what expenses not belongs to necessity - things that you do not need immediately.
2) Do away unwanted expenses or delay these expenses.
3) Start a Financial Freedom Account.
(10% of your income is a good start), if not, start with $1.
The habit of saving is more important than the amount.
Alternatively, you can create additional source of income.
Explore your capabilities, get another job or make money online.