Despite my failed attempt to ascertain whether some people are just born with a frugal gene and thereby able to amass much greater wealth than the average person, that’s OK! I’ve found some great takeaways from the post, “The Unfair Competitive Advantage Of The Wealthy: The Frugal Gene,” such as:
* The more people feel guilty about spending money on services they know they can easily do themselves, the more pissed off they will be if you say something. It’s therefore unwise to speak out against how people should spend their money. We all have our own desires, skills, and values. But as a personal finance writer, these are exactly the topics that make for robust discussion.
* DIY can be seen as a side-hustle to make more money. Now there’s zero excuse for folks who are unwilling to moonlight, start a side business, or create a product to generate passive income. You can simply increase the amount of DIY projects, like cleaning, to earn more money by saving money.
* In any business transaction, question everything. Be thorough. Stand your ground, while listening to the other side’s point of view. Folks who let their emotions get the best of them in business usually lose. Get things in writing, make things clear, explain your situation, and go from there.
* If you love money, you will probably be better at accumulating more money. You’ll do a lot more research on how wealthy people got rich, what to invest in the stock market, how to get a raise, and all sorts of money attracting stuff. You might even subscribe to a personal finance blog.
The love of money is something I’d like to discuss in this post because I finally read a comment from a reader who admits that he loves money!