Ever wonder why the rich stay rich and the poor stay poor(er)? I did. As a kid who grew up in a middle class family I was always envious of the kids who seemed to have it all.
Now, as a full-time adult – both professionally and personally, I can tell you that the concept of being “rich” is broad and most of the time there are no set rules to boosting your bank account.
So, I decided to research the topic a bit more and find out just how the 1% do it. Here are a few basic tips that have helped me along the way:
- Think differently. OK, I know what you’re thinking…rich people are all just a bunch of pompous bozos who thumb their noses at the rest of society…right? Wrong – or, at least that’s not the complete picture. People with money have it because they think differently than you or I do. They’re willing to take bigger risks because they KNOW that will give them greater results. They are passionate, ambitious and incredibly action-oriented. And it’s not because they were born with some divine right (although some are born into wealthy families.) They’re just people, like you and me. Learn how to think rich here.
- Look for bargains and negotiate. That’s right, the people with money are pros at pinching pennies. They all know how to find bargains and then negotiate the terms of the sale. After all, saving money and earning it is their JOB.
- Know your account balances, credit score and what you’re worth. This one probable sounds like a no-brainer… or, maybe not. Throughout college I waitressed on the weekends to help cover expenses, and I based my account balance off of how much cash was on hand. I was afraid (yes, afraid) to look into my credit score and I couldn’t tell you how to balance a checkbook. Getting older and having some serious student loans to repay has changed all of that. And, in the process, I know what it’s like to “invest” in my future through savings and budgeting. Oh – and I now keep an eye on my credit score. 😉
Want more tips? Here’s an article I enjoyed with 23 tips on how to become a cash king!