Whoever loves pleasure will become poor;
Whoever loves wine and olive oil will never be rich.
You only have to read Millionaire Next Door or Millionaire Mind to get a sense for how this applies to wealthy people.
There is a phrase in one of those two books that has always stuck with me. Even when millionaires were wealthy, they created “artificial scarcity”. Meaning that they took any excess income and directed it towards investments, debt, savings, etc so that they only have an artificially small amount to meet their living needs.
I think we’ve done this fairly well. We live on 50% of my single income which isn’t high for a family income in our area of the county. That 50% goes towards tithing 10%, groceries, mortgage and fun things like recreation, saving for trips, date nights, family dining, friends dining, blow money and all kinds of things. The rest gets swept away into balance sheet accounts.