It is easy in theory but actually a human being like you and me in modern society is conditioned to spend what you earn on watches, latest fashion and fancy cars. We are conditioned to create a status facade and improve our lack of self-confidence.
Drop the conditioning
First step and probably the most important one is to drop that urge to buy thing that seem to improve you as a person. Buy only what you need and really makes your life better. You don't need to impress anyone. Life is too precious to care what other people think all the time.
Know what you need
You have to know very precise what you really need to live a comfortable life. I am not talking about the latest Gucci bag or dining in the most expensive restaurants all the time. I mean what you really need to survive.
Keep some liquid cash
Always keep some cash to cover unexpected bills or backup money when your earning are on hold for whatever reason.
Invest the rest
Now take what is left and invest it in assets like stocks, ETF's, crypto and commodities. As soon as it is invested it is harder for you to spend it on useless things and your wealth works for you. Plus that money is protected against inflation.
Reinvest the interests
That's an easy one. Every bit of interest you reinvest to grow your wealth slowly but exponentially in addition to what you save and invest over time.
The Formula
[Income] - [know what you need] - [some liquid cash] = [Invest diversified] + [Interest]
I am not sure if the formula makes sense mathematically. nevertheless it might help you to understand the concept of wealth building. You're welcome, there are no shortcuts, get after it.
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