The key to breaking the cycle for many people is to begin the process of questioning spending, and to not just continue to spend the way you historically have. If you're spending too much and saving too little, clearly you've got to change something.
More Quotes from Eric Tyson:
People who've had the propensity to run up consumer debt often don't admit it's a problem. But your net worth -- the difference between your assets and liabilities -- is a key measure of your financial health. If it's getting worse over time, that's a problem.Eric Tyson
I promise that once you try living with an older fuel-efficient car, cooking instead of dining out five days a week, and paying with cash, you'll realize that you're just as happy as you were in your free-spending old life. In fact, you'll be happier. Less money anxiety and more time spent at home with your family will make the 'sacrifices' seem inconsequential.
Eric Tyson
Some people think they've got to have a brilliant business idea, but they don't. There are new tax preparers and dry cleaners going into business all the time,
Eric Tyson
There's this idea that you won't get caught, because the vast majority of returns aren't audited. But be careful of people who claim they can get you thousands of dollars back. You never know when you'll be audited.
Eric Tyson
You can't get caught up in the stock market's daily swings or gaining 100 points one day and losing 100 the next day. If you do, you're just going to end up suffering from painful anxiety attacks.
Eric Tyson
If it is a relatively small thing, like you transpose two numbers, that is less likely to trigger an audit than if you omit a large portion of your income,
Eric Tyson
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If it wasn't hard, everyone would do it. It's the hard that makes it great.
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My parents always saw me as an artist, and that greatly influenced me.
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