Everybody wants their family to be happy, healthy and wealthy. Of course, if you are not born into wealth, you need to grow it with understanding, planning and lots of practice. In other words, increase your “family wealth fitness”.
Looking at how we build physical fitness is a great way to understand wealth creation. To be healthy, we need to be physically fit, and to be wealthy, we need to be financially fit.
Just like physical fitness sits on a scale, wealth fitness sits on a scale. The first stage in physical fitness is to have enough energy and strength to do your regular day-to-day activities and to enjoy your body. The second stage is to build enough stamina to handle sickness and unusual physical challenges well.
Financial fitness is the same. First, you build financial stability, so you can have what you want, manage the day-to-day financial needs easily and enjoy your life. Then, you can build a money buffer large enough to cover large purchases and unplanned expresses.
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