Part 5/11:
Saving alone isn’t enough; the key is controlling expenses. Arad explained that many people’s purses stay lean because their desires, or unnecessary expenses, grow in tandem with their income.
He urged that men must distinguish between needs and wants, and that wise budgeting—careful planning of expenses—is essential. The goal is to spend only nine-tenths of your earnings, leaving the rest to be added to your savings.
He likened excess spending to weeds in a farm field: if not tamed, desires grow uncontrollably, preventing wealth from flourishing. The student’s motto should be: spend only on worth-worthy items, and cut away superfluous costs.