Son, wealth is not about what you spend or what you earn. It is about what money you have. Most of those people you see spending a lot are spending someone else's money. or they are spending all of theirs. In either case they depend on earning it faster than they spend it. So they will always be working hard for nothing, and one day they won't be able to earn fast enough any more.

Real wealth is about having money. Once you have it, then it will earn more money for you with much less work from you. The more you have the more you get. Then you can spend and know you can keep spending.

So don't spend other people's money: i.e. don't be in debt. Important note: INVESTING other people's money is not the same thing as spending it. There is nothing wrong with borrowing money to make money - so long as you think it is a good business risk but that is entirely another topic.

And don't spend all of your own. Pay yourself first: put some money away every week. Even if it is a little now, get in the habit. And make it more as you can afford it. Do it first, BEFORE you put money into groceries or rent or - shudder - debt repayments.

Real wealth is not measured by how fast it is flowng through you: it is measured by how much has adhered to you.

I wish someone had taught me this long ago. it is the most important money thing I can teach you.