The Latte Factor by David Bach & John David Mann

Author:David Bach & John David Mann
Language: eng
Format: epub
Publisher: Atria Books

MYTH #1:

Make more money and you’ll be rich.

“Henry probably talked about this already, right?” said Barbara. “How much you earn has almost no bearing on whether or not you’ll become financially solid.

“Most people think they have an income problem. They don’t. They have a spending problem. Don’t get me wrong, a healthy income is a thing of beauty. But chasing after the bigger dollar is not necessarily the solution to your money problems.”

As she typed, Zoey struggled not to reveal anything on her face. Guilt, for instance. Did Barbara somehow know she was considering that job uptown? It was possible. The New York media world was like high school: everyone knew everyone else’s business.

“When you grow your income bigger,” Barbara continued, “you just take whatever money problems you have and make those bigger, too. Because your money problems come from your money habits, and those don’t change just because your income goes up. The solution to your money problems isn’t more money; it’s new habits.

“You with me so far?”

“I’m with you,” Zoey said as she typed. Although she wasn’t, not really. She followed the logic of it, all right—but Zoey still could not wrap her head around this whole idea. Her money problem was that she didn’t have enough! How would making more possibly not fix that?

“What makes you financially set for life isn’t bigger income; it’s smart saving and investing. Which brings us to the second myth: that you need to have a lot of extra cash first. You’ve heard the saying ‘It takes money to make money’?”

Zoey nodded.

“That’s not only not true, it’s so not true that it’s Myth #2.”

Zoey inserted a page break and typed another boxed headline.

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