We all know we should be “saving/” money, but many people forget to do something with it once they’ve saved it. To avoid this problem, finance blog Escaping Dodge suggests thinking of your money like an employee: expect it to be working for you, even when you’re not looking.
Money picture from Shutterstock
In the same way that a strict boss would inform employees that “If you have time to lean, you have time to clean“, Escaping Dodge suggests that we should always be sure that our money is doing its job of making more money. This is the basic principle that allows us to eventually retire:
If you view your dollars as tools to buy stuff, you’ll likely have to work a job for an earned income the rest of your life… The sooner you build wealth, the sooner you have choice and choice makes it easier to handle whatever comes your way.
Of course, you should always make sure you have some money available to you as an emergency fund. However, by simply changing the mindset with which you approach money, you can make better decisions about how to build your net worth, rather than reduce it.
3 Golden Reasons Why You Should Think of Your Dollars as Employees [Escaping Dodge]