14 Things Rich People Do That POOR PEOPLE DON’T!

14 Things Rich People Do That Poor People
DON’T 14. They don’t save; they invest- Here’s a statement
that is way too true. I’m sure you’ve never heard about a millionaire
becoming wealthy by investing in a savings account right? They invest in companies, and stocks to make
more money off the money they already to have and that’s how their wealth continues to
grow, and they keep making more, instead of keeping money in a savings account not doing
anything productive with it. 13. Buy it for life- Most of the world have a
false idea about the economy and have this idea stuck in their heads that buying cheap
is always best. But in reality, it’s better to buy a pair
of shoes that cost $100 that will last five years, instead of a pair of shoes that cost
$20 but will only last one year and require you to make five trips to the store to buy
new ones. Buying things for life is a trend for some
but a lifestyle for the rich. Wealthy people will spend more time investing
in purchases before they make them, to make sure they’re buying something that will last
as long as possible and get the most value out of it. For example, this is why a rich man will buy
a $1,000 suit even though the price might shock most of us, in the long term a suit
that costs that much will last for decades. And if you know how to repair your own clothes
it could last a lifetime. So in some cases buying more expenses things
at a higher quality can be a smarter move in the long run. 12. Wait for good deals- There have been many
studies about people who were offered $5 now, or $10 in two months and almost everyone chose
to take the $5 now. People seem to have something slightly wrong
in our brains because it’s clear that $10 would be the smartest choice but most people’s
immediate need for money makes them chose otherwise. Rich people don’t seem to have this problem. Wealthy people will wait months or longer
to get the best value they can for something and don’t rush into get rich quick schemes. 11. Be frugal- Frugality isn’t just being financially
stable, it is environmentally as well! When someone is really careful, they tend
to waste less. If someone keeps every shopping bag and bow
from Christmas, it’s not because they’re a hoarder, its because they realize they’re
eventually going to need those things again when the time comes, and then they won’t
need to buy them again. Being frugal can be really enjoyable, and
the amount of money you can save just by being a little more cautious with each thing you
buy can be astronomical. As the old saying goes, “a penny saved is
a penny earned.” 10. Use coupons- Most people wouldn’t expect
this one, but tons of millionaires have said they spend more time finding coupons and discounts
than they do shopping. It’s a common feature that the rich seem
to do or at least one of their partners in the relationship was really mindful of overspending. We don’t all have to do extreme couponing,
but we can definitely do our part to get the best price for the necessities and things
we actually need. A big difference between the rich and the
famous people on reality TV shows is that the rich use coupons for items they usually
need or have to buy for their family. Extreme couponers chase savings whether they
need it or not. Couponing is an excellent habit of the rich
and everyone in between. 9. Buy second hand- There are some things you
don’t want to buy second hand, like underwear, food or bedding. But when it comes to just about everything
else, rich people are the first in line to get a bargain by buying things second hand
and from antique stores. Surprisingly a lot of rich people don’t
buy cars brand new because they know cars lose so much value the first few years of
a new car. If they do buy a brand new car, they tend
to hold onto it for at least ten years to make sure they get the full value out of it. Rich people also love antiques! And a lot of the time antiques can be cheaper
than normal items or furniture, but more importantly, they love the value of buying things that
aren’t brand new. Every penny that is saved by buying a second-hand
sofa versus a brand new couch can be invested or saved for something else that you need,
or that helps secure your finances in the future. 8. Budget- All rich people keep a budget even
when they don’t necessarily need to, and they stick with it, or they have people to keep
track of it and keep them updated about where their money is going. Budgeting is so important especially these
days as prices on just about everything seems to keep rising faster than the bankers can
print new money. The most important part of a personal budget
is being honest with yourself; you have to be honest with yourself and make sure you
factor in everything you spend. Rich people will go over their budget for
hours, to make sure all diversions in the budget are accounted for. There’s a connection between how much time
you spend on your budget and how rich you will get! 7. Invest in tangibles- At one point the rich
become dollar rich, they also do something that most of us don’t do; they invest a portion
of their money to tangible goods that enrich their lives in more ways than just money and
materialistic things. They buy art simply because they love the
painting, they will purchase fine wine just because they love to drink it, they’ll buy
brand new, and they’ll buy antiques. There is a financial benefit to owning those
things because they will increase in value over time. Rich people are also hard to sell. When you have one thousand dollars in cash
sitting in front of you, it’s very easy to spend it on a whim. But not so easy when you have the one thousand
dollars tied up in a very expensive bottle of champagne. The need to sell your stuff to free up the
cash gives you the time to make a more reasonable decision on whether you really want that one
thousand dollar item your lusting for at the store. 6. Buy affordable property- For the most part,
wealthy people pay cash for their homes or put at least fifteen percent deposit down. Rich people usually buy properties no more
than two and a half times their annual tax income. Rich people also tend to buy older houses,
and it’s rare that a rich person will buy a brand new house or have a house built. This probably has to do with the psychology
that the rich have about how value is placed on quality and not wanting to have the initial
depreciation of something new. It’s usually not the truly rich who buy
mega-mansions to show off. Those properties are usually for the people
who have a massive mortgage, massive financial problems, or a massive ego. And of course, those few who win the lottery,
poor them because most lottery winners will waste it all and end up back where they were
before but way more miserable because of the loss. When lottery winners win that much money all
at once, usually they are people who come from nothing and go crazy with spending and
buying because they’ve never had that before and have no one to advise them or to invest,
so instead they blow it all within the first few years and end up back to their old life,
such a shame. 5. The rich associate with successful, positive
people- Rich people are aware that attitude is everything if they continually hang around
people that complain about everything from the weather to the government and always speak
negatively, then they’ll most likely start doing the same thing. But if the same people start hanging around
people who talk about success, opportunity, and positive things in life, chances are they
will start to see the world from a different perspective and gain victory and positive
thoughts themselves. Instead of the world being a horrible place,
it suddenly becomes a land of success and opportunity. A good example of this is how immigrants view
the United States as a place of opportunity, while most people that are citizens of the
U.S have so many complaints about it. Quite frankly, it is what you make of it. 4. The rich think both- Long ago economists came
up with the term “opportunity cost” and this simply means that if you chose one thing,
then you are giving up something else. For example, if I have $5 and I buy a $5 ice
cream, then I’m ultimately giving up the pack of gum that I wanted as well. This is how the poor think too, they have
a set amount of money and they think they can either spend it on one thing or another
and not have both. It sounds logical but rich people focus on
how they can get both and don’t settle on just having one thing over another. Let’s say you give a rich person $5, they
want the ice cream and the gum, instead of thinking either or, they decide to get both. The rich mindset wouldn’t buy the ice cream
or the gum initially, but they might buy a 24 pack of water for $5 instead. They walk down the road, sell each water bottle
to people passing by for 50 cents each and earn $12 total when finished. Now they can afford the ice cream and the
gum and have money left over to spare! The rich have both mentality, not either or. 3. Net worth- Poor people will often talk about
money regarding hourly pay or monthly income. Wealthy people know that an hourly income
is not nearly as important as someone’s net worth. Someone can earn a lot of money per hour or
per month, but if they don’t learn to keep any of it, they’ll still be broke in the
end. A rich person knows that a large net worth
will bring lots of opportunities and will create more wealth in their future. 2. Constantly learn and grow- Many kids today
think that they’ll be able to work just hard enough to earn their degrees and they
won’t have to pick up another book or take another test for the rest of their lives. Some might turn this dream into a reality,
but they’ll most likely be poor forever. The rich crave knowledge because they know
that the more they learn, the more likely they are to succeed at the things they want. The average millionaire reads one book a month
because they want to make themselves into the person they ultimately want to be. The average broke person will never read and
never change anything. The rich constantly learn and grow, and poor
people think they already know. 1. Don’t look rich- This one is the most significant
aspect of the lives of the truly wealthy, is that people can’t tell their rich just
by looking at them. They can be the regular person living next
door, driving an old car, and working just as many hours as you do. On the other hand, the person up the street
with the fancy luxury life that everyone wants is probably cash poor and not very happy. It’s been said by many rich people, that
they have every materialistic thing they could ever want and still aren’t truly happy. Focus on the best parts of your life, the
things and passion that truly make you happy because at the end of the path that your passion
takes you, is the true pot of gold, your happiness.


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