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The Rules of Wealth, 3rd Edition by Richard Templar

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RULE 66

Control spending impulses

The surest way to scupper your wealth creation is to go out and spend everything you earn or receive (and a bit more just for good measure). This particular addiction is very strong in me. I blame it all on giving up smoking. I have nothing to do now with my hands so fiddling with a credit card seems to satisfy some deeply buried addictive urge. But you have to resist if you are going to turn what little you have into a bigger something. Forget notions of new cars and holidays in the sun. You are going to turn into a bit of a Scrooge for a while, hanging on to what you’ve got in order to prepare for the future when you will have so much more. This means you have to control your urges.

Look, I’m going to let ...

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