Who doesn’t want to be rich?
OK, so maybe that question is a little broad and unreasonable for the average person who works 40 plus hours, potentially has plenty of debt and other financial responsibilities that aren’t quite as easy to take care of on a modest salary.
But when you think about those who are considered wealthy or financial secure, you see plenty of habits that could be deemed as anything from enviable to wanting to copy or emulate so that you, too, can at least get your own personal finances back on track versus where you are presently.
Those who are “rich” or at least live comfortably aren’t just millionaire actors or billionaire business men. They also can be someone who has an average or above average salary that lives like they’re filthy rich because they’re not swimming around in bad habits when it comes to money.
Essentially, they act rich because they do as the rich do and follow a series of rules that everyone with money can relate to as far as how they spend and subsequently save.
For instance, anyone who is smart with money knows how to budget. They don’t let one dime fly out the door without knowing its destination, where it’s going and how much is being spent on anything from bottled water to clothing, utilities and rent, both large and small items alike.
So if when you opt to budget, you’ll notice something else that you didn’t see previously: money in the bank. Good budgets allow you to pay yourself, and who doesn’t like being paid? Certainly the wealthy make it a point to pay themselves all the time (hence the whole rich thing), so that means by budgeting, you’ll be able to see what you spend and can leave some gap between income and expenses and put that in the bank to start a savings account, a must for the what ifs life throws your way.
And what are some of the ways that you throw money away?
Think about people who you never see spend money at a restaurant or go out to eat. How about the friend that seems to buy clothing at the most peculiar times, like the winter coat in May, and the shorts in September or October. They learn how to buy at the right times and limit the amount they spend when and if they go out. They also learn how to enjoy themselves without dropping hundreds of dollars on dinner and drinks, too.
Being “rich” isn’t so much about how much you make but rather a mindset about how you spend money, leaving plenty of room to be wealthy in a way we can all relate to: being able to save and have money.
Previous: Numbers Hunch: Why we can’t save isn’t surprising when you analyze numbers Next: Grocery Snore: How to save money on groceries