If you want to get out of debt and build wealth…spend less than you earn.

The wider the gap between what you earn and what you spend can remain constant or grow, the greater your cash flow and the more financial success you’ll achieve.

WEALTH = WHAT YOU EARN – WHAT YOU SPEND

Frugality is an important part of personal finance. When you decrease your expenses, your cash flow increases.

“Annual income twenty pounds, annual expenditure nineteen six, result happiness. Annual income twenty pounds, annual expenditure twenty pound ought and six, result misery.”  Charles Dickens

There’s no magical way to change the fundamentals of personal finance. Although. there is one irrefutable financial truth…to build wealth, you must spend less than you earn.

Spend less than you earn is a golden rule of personal finance.