Not accumulating savings or not having savings may force you to not do things that take a long time to get a return, and it is difficult to delay gratification.

Usually, things that can bring returns in the short term will not allow you to accumulate a lot of wealth, which may lead to a vicious cycle of poverty and financial shortages. The poor lack savings and cannot do things that take months to get a return, while things that cannot get a return in the short term are the basis for long-term wealth accumulation.

There are five universal truths about spending money:

1. Control your spending, consume moderately, and cultivate the habit of saving in preparation for uncertain future situations.

2. If you don’t have a business that can make money continuously, you may work until the end of your life.

3. You only need to accumulate wealth once in your life. Don’t gamble with your existing wealth to get things you don’t need.

4. Be frugal and save money at all times.

5. Before spending money, think clearly whether you are investing (improving your skills, knowledge, or realizing your dreams) or consuming. If it is an investment, spend it without hesitation.