Debunking the 'earn more vs. save more' argument
As a person begins to earn money, he or she could be thinking of either earning more or saving more. For years, the argument about whether one should earn more or save more to become financial independent has ruled the minds of those in the workforce. Image source: abi.org.uk On the one hand, the "earn more" side suggests that the best manner to experience financial freedom is by having a larger income. If one is an entrepreneur, there is no upper limit to this idea. On the other hand, the "save more" team tells individuals that saving more and spending less is the most sufficient way to become financially independent. The statement that one would spend more if one earns more is based on behavior and mindset; its counter-statement says that it is easier to save as one earns more is focused on math and logic. As both are correct, this debate shall be put to rest as people must only focus on widening the gap between income and spending. To be f