Day 8: Spend Less, Earn More

spend less, earn more

Welcome to day 8 of the 21-day program that will help you develop a millionaire mindset.

Day 8: Spend Less, Earn More

“Before you make any purchase, ask yourself if you really need it. In most cases, your life won’t be any less full or rich without it and every dollar you save will reduce your ecological footprint”

-Kim McKay

“A man who both spends and saves is the happiest man, because he has both enjoyments.”

-Samuel Johnson

Sometimes, knowing how we spend our money is much more important and also more difficult than how to earn it. Spending could be the little hole that sinks a many great financial ships.

I tell you; if I had known this truth about three years ago that I’m about to share with you, I would have been richer than I am today.

Unfortunately, school failed to teach me about one of the most important aspect of life. It was “inappropriate” to teach a child about money- so they say.

Surprisingly, we’re expected to bring in lots of money to our parents when we’re through with school.

Read also: 5 Things School will never Teach You

There are people who would have become millionaires but never could or would.


They keep complaining how small their income is. They tell you that if only their income were to increase a bit more that they’ll save good portion of it.

Red, Fat, round Lie!

Increase their income and they increase their spending and never save a cent or kobo.

I’m not saying that I’m some financial genius.

Most times – if not every time I fall victim of over spending.

Look at the lives of those around you who don’t save- they usually struggle financially.

It is imperative to note that being financially successful is not dependent on how much you earn but how much you save.

Read also: 10 Commandments of Managing your Money Effectively

For 30 years now you have been complaining of how small your income is, but, just imagine how wealthy you would have become if you were to save 10% of that meager income.

Stop hating the rich or complaining about the government or your employer. If you must be successful financially, then you must learn how to save before ever consuming.

If you can save 10%, try 5%, 2% or even 1%. You’ll be amazed about how much you have realized in a short while.

You think your income is too small to earn.

Let’s take this case scenario:

They were two men, say Mr. A and Mr. B (hello…. Did I hear you say Mr. Biggs?….Lol) working in Maverick Excel Inc. Each of them earns #10, 000.

Mr. A keeps telling himself and others around him that his income is barely enough to take care of his needs, so he squanders it and also run into debt.

Mr. B knows perfectly that his income is also little (#10,000) and yet he decided to save 10% every month, which is #1,000. Now, in a year that is #12,000. In ten years he gets #120,000, twenty years #240,000, and so on.

In thirty years, he decided to invest his money (#360,000) into a profitable business that makes him millions every month.

Booooom! He’s now a millionaire!

Perhaps, you say #10,000 is too small, what if he was earning #20,000 or #30,000- do the mathematics yourself.

I have never seen a man who becomes wealthy without conscious saving.

To become a millionaire you have to learn how to save!

It’s that simple.

The only people who don’t save for the rainy day are those who live in the desert.


  • Open a savings account in the bank for lifetime saving.
  • Save 10% or 5% of your income throughout your life. It takes discipline.
  • Practice frugality all the time.
  • Put off impulse every time.
  • Don’t buy a thing new if you can buy the fairly used.
  • Delay ever major expenditure.
  • Always save before consumption. Not the other way round.

Quote of the day:

“Lots of people know how to make money, but are not gifted in the art of preserving (saving) it. Frequently, the same risk that was involved in making you rich is the same risk that can make you poor again.”

  • Fred J. Young

Here is the lesson of the previous day:

Day 7: Never Stop Learning


9 thoughts on “Day 8: Spend Less, Earn More”

  1. Saving is a great idea, but as a business man you must dare to take daunting risks which involved spending more than you might actually think to get back in return. The benchmark I guess is to always invest time and money.
    Great post promise .

  2. Wao, saving is not a new thing to me but you just opened my eyes to the other aspect I didn’t know.

    Thank you admin, its through savings that I started my business and its through savings I will expand it where I want it to be.

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