Spend money on things that create value

Wealth coach and lawyer Adeola Omole went from $70,000 in debt to a seven-figure net worth by living by her mantra: “Spend passion, cut junk.”

“In a nutshell, it means that you need to start spending your money on things that bring you joy and that you are passionate about,” Omole previously told Business Insider. For example, she spends her money on books and investing; others may put their money toward travel.

“You need to do everything in your power to stop spending your money on things that don’t bring you joy, things that you’re not passionate about, and things that don’t add value to your life,” Omole said.

For Omole, this “money philosophy,” as she calls it, has done more than help her crush debt and build wealth — it’s changed her outlook on money.

“Once I stopped associating money with consumption and started associating money with options, my relationship with money changed from being based out of fear to now being a source of empowerment,” Omole said.

 

Source: Adeola Omole [https://www.businessinsider.com]

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