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But there are other important lessons they have learned as well.
Also see Dave Ramseys top money traps to avoid.
Sounds like a Hollywood script, right?
Meursing said he remembers the day he realized he was no longer poor.
I chuckle, thinking back to my first big payday as the founder of Premier Staff, he said.
Thats when it hit me: I had made it.
But I also knew that if I wasnt careful, I could lose it all just as quickly.
I call this the I deserve it mentality, and its a slippery slope, Meursing said.
After landing his first big contract, he thought about going on a spending spree.
That memory kept me grounded.
Instead of splurging, I reinvested that money back into the business.
I knew I needed to educate myself fast or Id end up back where I started.
I investedtime and moneyin financial education, attending seminars, reading books and even hiring a financial advisor.
This knowledge has been crucial in growing and maintaining my wealth.
I once had a friend who blew his entire savings on a guaranteed investment scheme.
He ended up worse off than when he started.
Thats when I realized that slow and steady really does win the race.
But he added that breaking this cycle is crucial forlong-term financial stability.
He recounted an event where he overheard someone complaining about the cheap champagne.
That moment reminded me of how far Id come and how important it is to stay grounded.
