The time tested shortcut to riches: production > consumption
Produce more than you consume and your net-worth will grow. Do the opposite and you’ll find yourself driving down the highway to poverty. When I first wrote about this in late December, many readers said they’d never thought of wealth and consumption in this way. Since then I’ve seen other larger blogs re-label this as the creator vs consumer mindset. I therefore figured I’ll expand upon this in a separate article lest others coin credit for this.
WHAT IS PRODUCTION?
Going to the gym is production. You’re producing a better physical appearance. It’s proven that good looking healthy people earn more than fat slobs. Healthy people also have more energy to get things done and work more. By working out you’re thus investing in your earnings potential. This is production although you’re consuming the gym membership.
It’s also possible you’re not producing maximum output whilst lifting. If you listen to free music on your Ipod, you’re engaging in wasteful consumption. As this does not enhance your future earnings potential it cannot in any way shape or form be classified as production. So what can?
TO READ ON SUBSCRIBE AND BECOME A PATREON.