Should we build wealth?

We live in a consumer society that has led to a culture of spending more than you earn. A culture that has become dominated by instant gratification which has been greatly assisted by the misuse of debt.

If we spend everything that we earn and have nothing of financial value left we are not building wealth. The purchase of a family home requires us to invest rather than to consume everything that we earn. Unfortunately today many people who live from pay packet to pay packet could actually be called urban “subsistence farmers” as they consume everything that they earn and have no value left! They look back and wonder where all their money went.

What proportion of my income is accumulated rather than consumed?

What could I do to begin some form of wealth creation?

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