What the rich do differently
We all have the opportunity to become rich by a chance or a good luck, but the key question is how long does the wealth last. There are so many examples of lottery winners who, after some time, are back at where they were before the lottery win. Thus, it is not the ability to get rich that matters but the ability to stay rich. If this skill is mastered it is much more probable to get rich and stay rich during ones lifetime.
Life is full of examples of people who have been wealthy at one point, but have not been able to maintain the prosperity. One likely explanation for this is that they have not learned to think the way wealthy people do naturally. While rich people have been examined, it has been observed that their wealth does not come so much from the money itself but how they feel about life and money.
The wealthy are buying values
Rich people do not spend money on pointless things and do not make thoughtless investments. They buy things that are true and have timeless value. Rich people spend their money in a way that would produce them more money or just keep the balance above zero. The rich people spend their money on things that do not lose value. A rich person does not have to make pointless spendings to feel good about themselves - they already feel good, even without the shopping therapy.
The middle class collects duties
Middle-class life is largely made of liabilities. During the lifetime they continue to move into a bigger apartment or a house, which means even more costs and monthly expenses. The middle class is buying things that create new expenses, which leads to continuously increasing spendings. The middle class buys things which lead to more spending and commitments. The average person traps itself into an increasing monthly obligations and do not leave themself the needed financial breathing space.
The poor are buying things
Because poor people have low incomes, their expenses are that much lower, but high in quantity. Poor people tend to buy the cheap stuff but in large quantities, which eventually forms a summary of a large amount. Have you noticed that rich people's homes are secure, clean, and there are fewer stuff, but poor homes are filled with all sorts of junk and it's always a mess. The poor people drown themselves in cheap stuff and do not get out of the dead circle.
The wealthy do not tie the money to emotions
A rich person does not make an emotional expense, they buy things that make sense, not what they have instantaneous emotion during the encounter. They view money logically and ask themself before making a purchase, whether it makes sense and is this thing worth the price. The rich people do not pay more for the things than they think its worth. It is often cast for the rich that even though they have a lot of money they are careful about their spending. The fact that they are not paying for the bubble and they just do not make pointless spendings is how their fortune is made.
The rich do not live beyond their means
If the average person lives exactly at full capacity and it lacks the necessary financial breathing space between revenue and expenditure, the rich live below their abilities - they always save more money compared to what they spend. If a rich person spends money, then in all likelihood in the future it will bring them even more money in. The average person thinks that every time its income is growing they can afford larger expenses and become closer to riches, but the reality is the contrary - it smothers itself simply by higher costs and blocks the possibilities that free money can bring them in future life.
Not to spend is to earn
A rich person thinks in a way that if one does not spend the money on buying these things, it's exactly the same as to earn a profit. Such minded people do not make pointless spendings and do not buy things that they do not really need.
Wealthy people feel good when they don't make pointless spendings because they feel that they are winning the game - every day someone is trying to sell them something for profit, but they are not broken and it makes them feel good - they are winners - they keep the money. In all likelihood, it's they who are the ones who are selling things to others and quite often, in fact, things that have really no real need to buy them.
Rich people do not count on luck
A very large proportion of people are buying lottery tickets every week and count on luck and hope. If it's not the winning of lottery there is something else that the average person expects and hopes for - that one day it changes their life. They count on the government in most cases, but also bosses, acquaintances and God. They hope that others are here to make life better. Rich people do not expect and wait for other people to act because they know that waiting and hoping will not make anyone rich.
The average person believes in education
Most of the people believe that the successful future means living according to the formula - go to school, learn well, get education etc.. The rich person knows that education does not guarantee success. In contrast, the average person believes that if it learns well and is doing everything as society tells them to, it sends them to success. This is a working-class mindset. The result of such a mindset is the ideal worker with a good academic performance. Unfortunately, the result is often disappointing: "I know I did exactly as told, but the result is not what I was expecting. " In addition to good education it's necessary to learn to think by yourself rather than live a life by what you are told.
The rich do what they like
The average person believes that getting rich needs hard work and suffer. There is saying that hard work will not get you rich. What does this really mean? The rich person do things they like and find a way to make money from it. For them, life is a pleasure, because they can do something they love and in addition it brings in the money. The average person, however, is most likely heading for graduate school and take a job that they really do not like, but they believe that in order to get rich one must first work hard to get better and better, and thereby develop wealth.
The rich focus on future
People who believe that the best days have been in the past can almost never become rich and often end up unhappy and depressed. Rich people don't miss the old times, because they know that the future is even better and they focus on making it the actual case.
The average person tends to make low life goals because they are more likely to be filled and do not make so many disappointments. The rich, however, set very high targets for themselves and are not afraid of disappointments. Why else would they say to aim for the direction of the universe, because in the worst case you will land among the stars.
Entertainment comes secondary
A rich person chooses new experience, expertise, studies, etc. before entertainment. For them, the new knowledge and experience is more entertaining than what the average person considers entertainment.
One of the world's richest people
Warren Buffett gives advice
Once you buy the things you don't need, then maybe soon you have to sell the things you need.
Instead of saving the money that is left from spendings, spend the money that is left from savings.
Never depend only on one income - make investments for additional income.
Never, ever put all your eggs in one basket.
Control the depth of one river with one not both legs.
Honesty is precious asset - do not expect it from cheap people.
Last update: 2015-10-05 (Y,M,D)