How Do Rich People Spend Their Money

How Do Rich People Spend Their Money (Vs The Poor)

In this post, I’m gonna show you how do rich people spend their money vs how the poor and middle class spend theirs.

This is exactly why most people are broke and living paycheck to paycheck.

Don’t be like most people!

There are 3 things you need to focus on to become rich:

  1. Making money.
  2. Keeping money.
  3. Multiplying money.

Most people focus on the first step and ignore the second and third.

That’s probably one of the biggest mistakes.

Most people start working more hours or get a second job to bring in more money.

They take time off work and the money stops.

They’re relying 100% on a single income stream.

If only there was a way to make money while you’re not working…

Good news is that there is and that’s how people get rich.

And guess what?

You can do it too!

There are 2 main things that can make you money while you sleep:

  1. Owning a business (active).
  2. Investing your money (passive).

Work SMART, not HARD.

The majority of people who are broke focus on working harder.

The majority of people who are rich focus on working smarter.

Your money can work a lot harder than you can so put it to work.

Here’s what most people do:

  • They make money.
  • They buy things.
  • They make more money.
  • They buy more things.

Things are items that take money out of your pocket like cars, luxuries, and houses.

And yes, the home you live in is NOT considered an asset…

It doesn’t pay you a dime until you sell it (hopefully the market went up).

Here’s what the rich do:

  • They make money.
  • They buy assets.
  • Those assets make money.
  • They buy more assets.
  • They buy things.

See the difference?

The rich take the money they make from their job or business and buy assets that put money into their pocket every single month.

They then take that money and buy more assets.

After that, they can use the money their assets make to buy the nice things like cars, luxuries, and houses.

Some examples of assets are rental properties (not homes), dividend stocks, bonds, businesses.

Remember that cash flow is king.

And if you wanna become rich you need to generate multiple streams of positive cash flow.

And the #1 way to do that is to start an online business.

Why?

  1. It can give you the highest ROI.
  2. It costs the least to get started.

The second best cash flow asset is rental real estate but it requires thousands and thousands of dollars to get started.

An online business can be started for under $100.

Another great cash flow asset is dividend-paying stocks. You can invest your money in companies and they’ll pay you every single month, quarter, or year.

You can get started for as little as $20 per month but compared to an online business, your money will be out of your control.

So why don’t more people do this?

Buying a stock or starting a business isn’t as cool as buying a nice new watch.

Most people have the short-term mindset to want things NOW instead of looking towards the FUTURE.

But if you’re willing to invest in your future TODAY by starting small and continually investing in assets you’ll eventually get to a point where you can call yourself wealthy.

Leave a comment below if you’re buying or thinking about buying assets and if you want more info on how to start a profitable online business be sure to subscribe to the channel because I put out multiple videos per week.

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And for more tips & tricks on how to make passive income make sure you check out the following:

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