Cutting lattes won't build wealth because there's a limit to how much you can save but no limit to how much you can earn. A $50,000 salary stays $50,000 no matter what you cut, but raising it to $100,000 makes small expenses irrelevant. Focus on earning more and investing the difference.
You don't have a spending problem, you have an earning problem. Look, you've probably been told the same thing since you were a kid. Cut the lattes, cancel the subscriptions, pack your lunch. And that's not bad advice if you're trying to survive, but that's horrible advice if you're trying to get rich and build generational wealth. Because here's what nobody tells you. If you make $50,000 a year and you cut every expense possible, you still make $50,000 a year. You just live worse. But if you focus that same effort on making $100,000, you'd be making too much money to worry about how much a latte at Starbucks costs you. Point is, there's a limit to how much you can save. There's no limit to how much you can earn. So don't just save money, invest it too. Otherwise, inflation will destroy you.
