Why the rich gets richer

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Money money money money, money

Hopefully, you can understand the song I’m trying to sing about money because baby, do I have a whole article for you today.

The other day, I started to wonder how I went from having money to squander to saving every penny within one year. Many work with average persons and average salaries and only dream of going on a luxury vacation spending $10k here and there and everywhere without feeling not even an ounce of guilt.

Raise your hand if you are one of those persons.  Raises hand.

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Man, am I going to burst your bubble today. Let me let you on to a little secret they have been hiding from you. Rich people don’t do that!

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Rich folks never spend a dime without seeing where the money went or if it will return investments. I was one of those folks that thought that people with money were just mean but after learning so much more about investments and money in general, I learnt that they are smart, not mean. They have mastered the art of self-control and a spirit of humility and patience to stay ahead of the game.

Interested in learning more? Continue reading.

1.       Networking

A rich man once told me that he only socializes with folks who are successful. I thought that was selfish at first glance but then I remembered the saying, “Birds of a feather, flock together.” You cannot acquaint yourself with poor people and expect to be rich, can you? Rich people understand the importance and urgency of keeping contacts with wealthy people. You will see them doing this at conferences, seminars, events, or just grabbing coffee with an interesting one. This is vital because instead of idle chat, they are investing time in learning and trying ways to make money.

2.       Your mindset

I feel like I have never written or said anything without mentioning this topic. Your mindset is everything and wealthy people have proven this fact. Rich people are always ready and willing to learn something that guarantees them using their brains. They are open to change and innovation and venturing into the unknown once it opens up the door to adventure or creating a positive influence.

3.       Invest

Investing is all about making money work for you not the other way around. Since 2019, I have learned that sure, you can save for a rainy day and buy an umbrella but investing is the factory that makes the umbrellas. Not only that, banks take from your savings whether that’s fees, charges, GCT and so many other hidden costs but your investment only grows. Investments provide returns that you can use however you see fit. But before you invest in something, always remember that it is a risk and you should be willing to lose whatever you want to invest.

4.       Personal Development

You are your greatest asset and the rich have been using that mindset for a while now. They are always reading and involving themselves in activities that elevate their mental state. Through such avid reading, they acquire knowledge and skills that could benefit them financially in the future. They keep up to date with news and always seeking information on self-help. A whopping 85% of rich people read three or more self-improvement books per month.

Networking, changing your mindset, investing and developing yourself are just four reasons why the rich continue to be richer. Notice, I didn’t mention buy a billion-dollar mansion or vehicle? No, it wasn’t a mistake. Take notes and don’t waste a single moment second-guessing mine or your judgment. Apply these principles now.

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