• If You Want to be Rich…

  Filed under Budget, Finances, Money Saving Tips
  Apr 13

  …then do what rich people do. If you want to be poor, do what poor people do. I don’t know where the saying comes from, but I have heard it a bunch of times. It’s very true. Rich and poor people aren’t where they are at because of some misfortune, one bad decision, one good decision, or anything else. The reason they are where they are at is because of habits.

  There are habits that make us rich and habits that make us poor. Knowing the difference can help us in our finances. So let’s look at the habits of people who are struggling financially.

  Some habits that make your struggle financially are using a lot of credit cards, not having a savings account, spending your whole paycheck, not comparing prices and using coupons, not creating a budget and lots of other things I’m sure. But we want to be rich, right? We don’t want to know about what not to do so much as we want to know what to do.

  Fine, here’s what rich people do: they save and invest! That’s about it. Aside from eschewing the habits above, they make their money work for them. Not many people can have salaries in the millions. So why are there so many millionaires? Wise investing and saving. They didn’t spend all their money each paycheck they got. They put some away and let it grow in investments.

  Why do I share this? Because tax day is coming up, so lots of us should be coming up with some tax refunds. What are you going to do with that refund? Buy a TV? Go on a vacation? Might I suggest an IRA, a Mutual Fund or some other investing vehicle? Contribute to it monthly and watch it grow. By the time ten years go by you will be surprised and amazed at how much money you now have.

  1 Comment

One Response to “If You Want to be Rich…”

1. 

   payday loan online said on April 14th, 2009 at 2:30 pm

   Very nice tips. Thanks for sharing! Maybe in the future the government should look to payday loan companies as a guideline for how to hand out emergency cash.

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