4) Expensive lifestyles in expensive towns.
Usually, in towns where you earn a high salary, the cost of living there also tends to be exorbitant. If you work in such a town, it’s often wise to move some of your earnings to somewhere cheaper and make investments there. For example, the amount of money it would cost you to invest in a rental one bedroom property in an expensive town could buy an entire house in a different location.
5) Considering another’s wealth as your own.
You must separate your wealth from that of your company, your parents, your friends, your relatives and your boss. Never live off the wealth of another. Never think another person’s wealth is your own. For example, there must be a difference in your mindset regarding your personal car and your official car; your official accommodation and your personal house.
Failure to distinguish between these is why you find people that have become professors on a campus where they have lived all their lives till they became grandparents in government quarters. Official quarters is not your house! Build your own!