Is It Good to Save Money?
This week's question from my portal “The Neagle Code: Directions for Life” comes from someone who wishes to remain anonymous.Β
Hi David,
Iβve heard you say money is currency, and itβs not meant to be held onto forever. So I was curious, how do you pair that mindset with saving money, diversifying, and investing? Those things are important too, right?
I donβt βsaveβ money. With everything I do, I invest money. My moneyβs moving all the time. For the most part, my money is in a place where itβs doing some kind of good. Itβs being put to work for me.
I invest in things that will grow myself, and/or my businessβthings that will pay off either immediately or at some point in the future.
I donβt hang on to money from the aspect of being afraid that I wonβt have any.
That thought doesnβt ever cross my mind. I know that I can always make more money if I need it.
As far as diversifying and investing your money into different things, I think thatβs an intelligent thing to do, for sure.
Sound financial principles are about growing your money, preserving the principle, and putting it to work for you.
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