What Wealthy People Do on Pay Day
In a business or investment sense, we may already be following the paths of already wealthy people. However, we very much believe you will experience obstacles throughout your course if you do what wealthy people do not do.
Do you know what wealthy people do?
They DO NOT travel, yet.
When you do not have the spending power, simply, do not spend. (Future) Wealthy people will grow a ‘sin’ fund whereby they put aside excess earnings to indulge later. Such individuals focus on the present financial problems they have and solve them; such as clearing liabilities as soon as possible. When they are not as wealthy as they want to be, they simply do not lessen their wealth in any way.
They limit expenses now so as to spend more in future.
They NEITHER keep NOR spend most of their money.
Wealthy people are extremely stringent on their wealth allocation. Their pools of cash are fixed in a high-interest bearing account. They then invest the rest in businesses, stock markets, real-estate et cetera.
Allocate wealth for insurance, investment, fixed deposits, emergency fund, mandatory expenses and the ‘sin’ fund.
They DO NOT follow the average.
Successful people emulate already successful people. The one reason why these people achieve success in life is because they are never satisfied, and are constantly moving on to the next level. They set ‘unattainable’ standards but realistic goals to attain them. If they want a Rolls-Royce, they want a Rolls-Royce. If they want the Moon, they want the Moon and will not touch the stars.
They never ever settle for less and will consistently maximize their potentials.
They get out of their comfort zone.
We are certain that most wealthy people make use of their youth to take calculated risks. This does not mean that they are investors who touch volatile investments. Additionally, they expose themselves in atmospheres that provide ample opportunities for networking and learning.
This is because they are absolutely certain of the benefits for their lives now and in future.
They love wealth creation.
Do not ever say sorry for ethically becoming a wealthy person. (Future) Wealthy people see wealth creation as a responsibility to financially secure their own lives. They understand that wealth creation shields them from future crises. They embrace money by loving how to make it.
However, they should condemn complacency and greed after wealth creation.
In order to be a wealthy person, you need to start doing everything that leads you to being wealthy. If you have yet to reach your desired financial destination, skip your so-called well-deserved indulgent vacation, the parties and expensive dinners. What is it you are celebrating?
Make sure you share the same mindset of wealth creation as already wealthy people, work now play later!
Jade Lee is the Chief Editor of Giants Learning Technologies. Her life purpose is to help; thus committing to youths like herself through articles regarding early financial planning. Jade is an alumnus of Ngee Ann Polytechnic where she attained a Diploma with Merit in Early Childhood Education, having dedicated three years in understanding preschool children. Under a scholarship, she reads Bachelor of Arts in Psychology from Nanyang Technological University. Jade is also a commercial model and engages in Hip-Hop dance. Find out more about her insights via firstname.lastname@example.org
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