“I make myself rich by making my wants few.”

Henry David Thoreau

If you earn a lot of money but spend more than you earn then you are on the treadmill like everyone else. You aren’t wealthy; you just make a lot of money.

Living within your means is real wealth.

If you earn $100k per year and spend $50k and are saving $50k each year, you are wealthy.

It makes a lot of sense:

1. You accumulate capital and a safety net over time.
2. It’s less stressful because you aren’t living pay check to pay check.
3. You avoid debt.
4. You won’t get trapped by a job because you can’t afford to leave.
5. It’s less stressful.

Being rich can give you control over your time, but another way to achieve financial independence is to be frugal.