3. Penny-pinching is not the right path
Keep in mind that spending less doesn’t necessarily mean you’ll have more. Yes, saving is always a good way to stabilize your finances, but you still need to invest. “Pretend there are two islands,” advises financial educator Tiffany Aliche, who is also known as The Budgetnista: “Financially Stuck Island and Wealthy Island.”
She says that you should imagine your savings like a car—you can’t drive off Financially Stuck Island without a bridge. Investing is the bridge to financial success. “To get from one island to another, you need to get in your savings car and drive it over your investment bridge.”
