The Law of Diminishing Expenses is pretty straightforward: the richer you become, the less expensive everyday things seem to you. All of the sudden, the daily requirements to live your life, like gas in your car and dinner on the table no longer become a prohibitive expense in your mission to become wealthy. In order to get there, you need to build a budget and have multiple streams of income so that if any one of them went away, you wouldn’t have to change your lifestyle tomorrow. Tune in to hear more tips and real-life examples of how the Law of Diminishing Expenses works.
Episode Timeline & Discussion Questions:
( 1:04 ) Welcome back to The Chris Harder Show. Today’s episode is about the Law of Diminishing Expenses.
( 3:18 ) Chris says, “The richer you become the less expensive everyday things seem to you.”
( 3:40 ) Chris lists real life examples of what the Law of Diminishing Expenses looks like in practice.
( 5:20 ) Chris says, “The reason I’m explaining this is because this is your motivation to get over that hump.”
( 6:20 ) Chris explains two solutions for getting out of the cycle of living paycheck-to-paycheck.
( 7:51 ) Chris says, “You must have multiple income sources. And you must build your budget and those income sources so that if any one of them went away today, you will not have to change your lifestyle tomorrow.”
( 9:48 ) Text DAILY to 310-421-0416 to get daily Money Mantras or Business Perspective messages.
( 10:21 ) Chris asks listeners to share the podcast and leave a 5-star review.