WHY THE RICH GET RICHER?

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THEY DON’T WASTE ANY MONEY

The idea of saving money is a boring idea of becoming rich.

Honestly speaking, this is the only way to do it – unless you have something up your sleeve (rich family), then you are at the wrong place.

It’s the only way because it does not matter how much money you make, but if you’re someone who does not spend or invest wisely, you’re not gonna end up becoming rich.

Look at some of the rich and famous people who made millions (or billions) worth of dollars, but ended up bankrupt. How is that?

It doesn’t matter how much money you make as long as you don’t know how to keep it.

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THEY LOOK AT THEIR NUMBERS DAILY

I personally know entrepreneurs who rarely look at numbers daily.

This is a bad habit.

Numbers don’t lie. It gives you a quick insight on where does your business (or personal finance) will end up heading.

This may sound trivial to some – reality is, knowing the figures gives you better understanding of your financial situation so you can make better decisions; short and long term-wise.

If your sales increases, look at expenses you did that made sales go up.

If your sales hit rock bottom, look at ways to cut your expenses that don’t seem to support sales.

And so on. You get the idea.

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THEY WORK SMARTER, NOT HARDER

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The idea hard work equals results no longer applicable these days. And the rich know this too well.

Yes, you still need to put in the effort – but it needs to be smart effort.

If you’ve been doing the same thing over again without much results, the answer is not to do more of the same thing.

Instead, you should start finding alternatives.

This is why successful people often continue to learn and be adaptable; so they can easily adopt new ideas or methods to get results.

THEY MAKE THEIR MONEY WORK FOR THEM

People often like to say rich people are lazy. It’s far from the truth.

Rich people know that they don’t always want to work and not to enjoy the success they have accomplished.

So, they are always on the move to make their money to do the work such investing in companies, stocks and so on.

This is how most rich people stays rich despite of always looking like they don’t work at all.

There’s nothing wrong with that. Who wants to work for their entire life?

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THEY VALUE MONEY MORE THAN OTHERS

There’s nothing wrong about valuing money more than everything else.

You worked hard for it. Of course you’re going to value it more than most other things.

If this doesn’t sound like you, then you’re going to have a hard time to get rich – or to stay rich.

Most people like to spend money every time they get paid. They like to spend on things that don’t make much sense.

They don’t save and invest. How can they?

This spending habit will leave them constantly living paycheque to paycheque; ends up having to work for their entire lives.

Rich people, on the other hand, knows how money works. They don’t spend their earned income.

Instead, they save a portion of it to invest. Once that investment bears fruit, only then they’ll start spending.

This is why rich people value money more than others.

THEY BENEFIT FROM HAVING GOOD CREDIT

I don’t think it’s necessary for me to talk in depth about having good credit, do I?

In short, good credit means easy access to financial loans, government grants and so on.

Access to such financial support is crucial if you wish to own a house, start a business et cetera.

Let’s move on. 

THEY DON’T KEEP UP WITH JONES

There is a saying that “Poor people like to talk about others, while rich people like to talk about ideas.”

No. I did not say it.

But I can support by talking from my experience itself.

If you pay enough attention, people who are doing well (or well on their way) rarely talk about others. We rarely gossip.

On the other hand, when I talk to average folks, they seem to prefer talking about things that don’t benefit.

Sometimes, I can even sense envy or hate (or both) in these conversations – which is another tell-tell sign of a person who will struggle in life. No offense.

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THEY PRIORITIZE SUCCESS OVER LEISURE

This does not necessarily means you should enjoy less leisure time. Nobody wants that.

Instead, create tasks and schedule them where you will only work around specific time and day(s).

Then, use the remaining time (or days) to enjoy some leisure activities ONLY AFTER YOU’VE COMPLETED YOUR TASKS.

This is what I mean by prioritizing success over leisure.

CONCLUSION

For closing, the most important thing is to, quote Nike ‘Just Do It’.

People tend to read and think a lot. We like to, sometimes, even over-complicate things. DON’T.

Just do it. Full stop.

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Posted by

A mechanical engineer with MBA in Procurement and Business Strategies. I've sold my company's import/export license to a regional distributor in Asia. I own and co-invest in multiple online assets & channels now.

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