The wealthy have a very different mentality from you and me. Instead of working for money, they find ways to have their money work for them. When they come across something they cannot afford, they don't tell themselves that they can't afford it, but instead ask themselves what they can do to be able to afford it. Instead of buying things outright, the rich buy assets and investments that will generate the cash flows to allow them to buy the things that they want. In essence, the rich continue to become richer because they live beneath their means, while the average person tends to live beyond their means.
Credit cards, mortgages, student loans, car loans. All of these are perfect examples for how the average worker is able to finance a lifestyle they would not be able to afford based on income alone. Although these liabilities allow for middle-income families to enjoy a higher standard of living, it comes with a huge price: they are forced to continue to work for money.
Some of you may be surprised with my last statement. What's wrong with working for a paycheck you might ask yourself. The problem with working for a paycheck isn't so much regarding the paycheck itself but for what it implies. By working for money, you are spending your whole life working to put a little money in your own pocket, and a bunch of money into someone else's pocket. With debts piling up through student loans, mortgages, and other liabilities, you would continue to avoid all risks and become passive in an effort to keep your job so that you can meet your payment obligations.
What does this mean? It means that you are placing yourself in a self-fulfilling vicious cycle. By trying to appear richer, you're running up liabilities and must then continue to work for money to maintain the unaffordable lifestyle you've already become accustomed to. This is essentially a fool's a game, and the truly rich have learned this lesson a long time ago allowing for them to use strategic financial strategy to gradually accumulate greater wealth over time.
Investing in your education is a great first step. By first educating yourself about the path to financial freedom, you will be able to best poise yourself for future success. So don't delay, and start learning as much as you can today. Remember, personal development has always been and always will be the path to longstanding success.
About the Author: Ketul Kothari is an accomplished investor and entrepreneur. He is also the author of several popular business books including Invest Your Way to Riches. Ketul's upcoming book, Presenting Greatness, will reveal the presentation techniques and strategies employed by some of the world's leading presentation gurus. Follow Ketul on Twitter.
Article Source: http://EzineArticles.com/?expert=Ketul_A._Kothari
Article Source: http://EzineArticles.com/8152452
Credit cards, mortgages, student loans, car loans. All of these are perfect examples for how the average worker is able to finance a lifestyle they would not be able to afford based on income alone. Although these liabilities allow for middle-income families to enjoy a higher standard of living, it comes with a huge price: they are forced to continue to work for money.
Some of you may be surprised with my last statement. What's wrong with working for a paycheck you might ask yourself. The problem with working for a paycheck isn't so much regarding the paycheck itself but for what it implies. By working for money, you are spending your whole life working to put a little money in your own pocket, and a bunch of money into someone else's pocket. With debts piling up through student loans, mortgages, and other liabilities, you would continue to avoid all risks and become passive in an effort to keep your job so that you can meet your payment obligations.
What does this mean? It means that you are placing yourself in a self-fulfilling vicious cycle. By trying to appear richer, you're running up liabilities and must then continue to work for money to maintain the unaffordable lifestyle you've already become accustomed to. This is essentially a fool's a game, and the truly rich have learned this lesson a long time ago allowing for them to use strategic financial strategy to gradually accumulate greater wealth over time.
Investing in your education is a great first step. By first educating yourself about the path to financial freedom, you will be able to best poise yourself for future success. So don't delay, and start learning as much as you can today. Remember, personal development has always been and always will be the path to longstanding success.
About the Author: Ketul Kothari is an accomplished investor and entrepreneur. He is also the author of several popular business books including Invest Your Way to Riches. Ketul's upcoming book, Presenting Greatness, will reveal the presentation techniques and strategies employed by some of the world's leading presentation gurus. Follow Ketul on Twitter.
Article Source: http://EzineArticles.com/?expert=Ketul_A._Kothari
Article Source: http://EzineArticles.com/8152452
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