The richest people in the world did not get where they are today just by luck. Sure maybe some of them struck some luck to become wealthy, but getting rich and staying rich are 2 entirely different things. The top reason wealthy people become more wealthy is due to the fact that they are economical and frugal with their money. I am not saying they are cheap, I am saying they are smart with their money. Every purchase becomes a chess move. They realize the value and importance of every dollar they have. Here are some of the habits that can fatten up your own bank account(s).
Use coupons and VIP Cards.
Laugh if you wish to, but coupons can save you thousands and thousands yearly. On top of immediate money saved, you can earn points on items such as fuel, trips and money off of a future purchase. It is no surprise that households with average incomes of $100,000 or more use coupons. Sadly household incomes close to the poverty level do not use coupons. I bet if you asked some famous athletes and celebrities they would admit to this addictive way to save money. There are so many ways to get coupons, it is a shame if you don’t use them.
Live Below Your Means, Not Above Them.
The extreme wealth are also known for living well below their means. It may look to the average ‘Joe’ that they are living the life and they are, BUT comparable to their income, they stay well below it. Let’s think about this, Mark Zuckerberg drives a $30,000 Acura sedan. Many rich people live in modest homes. Need I say more?
Be Charitable.
One of the more common traits that the richest people in the world have is their willingness to donate a large portion of their wealth to a charity or cause. It puts such a positive outlook on life. If you can spare anything at all, it will help someone less fortunate or someone who is very ill. It all comes full circle in the end.
Quality Over Quantity.
Put some thought into every purchase. Rich individuals are certainly not cheap, and are not against enjoying themselves, but they think about it. They think about every nickel. Need a pair of sneakers? Instead of 3 pairs, buy 1 quality pair that will last for a long time.
Carry Only The Amount Of Cash That You Need.
A lot of people speeding around in luxury cars and draped in diamonds are playing the part. It is not necessarily the most well off individuals throwing their money in the air and recklessly spending it all. Only carry around the amount of money that you need to purchase what you are intending to buy. Ok, fine, carry a small amount around for an emergency. But no need to carry wads of cash around at all times. It makes you quick to draw!
Not only is it extremely important to be frugal with your hard earned cash, but avoid credit debt. Learn to manage your money. It is never too late. If you have debt, the only thing to do is pay it off. The faster you do, the better you will feel. It is all part of learning to manage the money you have. A little bit can go a long way.
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