thing probably made in the exact same
factory for literally 1/10 that price
without the tiny little brand that some
people are looking for and rich people
realize that buying name brand clothes
for ten times as much as they should
cost is not a good investment and not a
good use of money and wealth Mark
Zuckerberg is one of the richest people
on the planet and he wears the exact
same shirt every single day and Steve
Jobs did the same exact thing so the
moral of the story for number eight is
there is no point to try to flex and
appear like you're rich and most of the
time that you see someone doing that
it's because they're trying to prove to
you that they're rich when most of the
time they're not number seven is
investing in the right things because
it's not correct to say that rich people
just because rich people don't waste
money on a thousand dollar pair of pants
when you get the exact same pair for
fifty dollars
that doesn't mean they never spend money
rich people invest in products that
actually make them money rather than
just being a stunt cost for example a
technology this computer cost me
probably close to five thousand dollars
but this computer has literally made me
millions and millions of dollars in
return so yes it was an expensive
investment but the reason that I bought
it is because I knew that it would pay
for itself handsomely and I could have
bought a much cheaper laptop but I knew
that this laptop would last me for years
and I knew that it would be the best
laptop that was currently available and
obviously this is probably going to
start a war in the comments because this
is in fact a MacBook laptop and that I
know that there's some diehard PC fans
but the point is guys that I invested in
a laptop that I knew I'd have for years
and I knew I'd be working on every
single day
rather than investing in a cheaper
machine or a cheaper computer that would
be slower and cause me more pain and not
be able to do the things that I knew I
needed to be done on that laptop so the
moral of number seven is spend money on
things that will actually make you money
rather than sunk costs of like a
thousand dollar pair of pants
number six is spending habits do you
know anyone that always seems like
they're struggling for money but that
same person always has a venti caramel
macchiato Starbucks cup in their hand
and the brand new iPhone a major
difference between rich people and poor
people is that rich people don't spend
money on things they don't need and poor
people do and poor people at the end of
the month are always scratching their
heads wondering where all their money
went and this puts them in a very
unhappy vicious cycle they work and they
spend all the money that they made
working then they take another job to be
able to spend more but it's still not
enough the more they earn the more they
spend they start working on the weekend
and their life turns into a futile
attempt to work as much as they possibly
can to try to keep up with their
spending habits rich people buy what
they need and what will actually make
them more money and as they start to
make significantly more money than they
made last month they don't increase
their spending habits in parallel with
their earnings and so to cement this
idea I want to give an example let's say
that I earn $10,000 a month and my
expenses are $5,000 a month if next
month all of a sudden my business takes
off and I start making $100,000 a month
my expenses don't need to equally go up
the same percentage so if I make 10,000
my expenses are 5,000 if all of a sudden
I'm making a hundred thousand my
expenses don't need to be fifty thousand
they could stay at that five thousand
and that's what rich people understand
right you don't have to spend more money
just because you're making more money if
you have a comfortable happy life when
you have the things that you need you
don't need to spend as much as you make
and that is something that rich people
understand that poor people don't and so
the moral of number six is don't spend
money on things you don't need and don't
let your expenses keep up with the
amount that you earn just spend money on
what you need to be happy and to have a
comfortable life
number five is money management rich
people know how to manage their money
they know how to budget they know how to
manage expenses they don't overspend and
if they
use a credit card they never pay any
interest on it because they make their
full payment every single month and
people are scared of credit cards people
have this myth imbedded in their head
that credit cards are only for stupid
people and suckers and people that need
to spend more than they actually earn
but this couldn't be farther from the
truth someone that is a responsible
spender who manages their spending and
properly budgets using a credit card
there are actually a lot of benefits to
it
you're better protected using a credit
card spending than with a debit card if
there's ever some type of fraud you can
always recover your money with a credit
card and you can't with a debit card you
accumulate points which gets you free
travel all around the world free hotels
and so many more benefits and I've never
paid a cent of interest in my entire
life accumulating millions and millions
and millions of credit card points
spending money that I would already
otherwise be spending and the reason
that poor people on the contrary live in
a world of credit card debt and stress
is because they don't keep track of
their money or plan their budget they
spend their money and when it's gone
they resort to using credit cards to
keep on spending so the moral of number
five is manage your money correctly
using credit cards is an unbelievably
easy way that the rich use to make more
money without ever paying a sense of
interest but if you're not careful
credit cards can become a terrible
expense if you're irresponsible with
your spending
number four is how you see the world how
you see the world is one of the most
important parts from making the
transition from poor to rich and if
you're still watching this is where this
video is going to start to get good rich
people see opportunities while poor
people see obstacles rich people see
opportunities for growth and success in
everything that they do when rich people
go out to start a new project or
business they're optimistic that
everything will be a huge success and
that confidence helps to ensure that
that business or project actually
becomes a success and rich people own
both the successes and the failures of
their actions they take responsibility
for their actions and the results that
come from those actions and they're
ready to go to any lengths to achieve
their desired result and poor people
usually focus on the obstacles that new
opportunities bring potential losses and
the risk that they'll have to take to
actually achieve the results they
ire and so the moral of number four is
that one person could see Tassie's as a
horrible expense and complain about it
as an obstacle and the other person
could see the next billion dollar
startup that becomes uber number three
is focusing on the right things
rich people concentrate on what they
want to achieve while poor people
concentrate on what they want to avoid
rich people don't make excuses they
simply do what's necessary and needs to
be done to get the desired results that
they want because at the end of the day
no one cares about excuses all people
care about is results and so rich people
say I'll do it no matter what and poor
people say I just can't do it
rich people realize that you can't win
without taking at least some calculated
risks they concentrate on their target
and they get there poor people on the
other hand try to avoid risks at all
possible times because they're afraid of
losing what money they do have rich
people face their problems while poor
people try to avoid those problems rich
people face their fears poor people
never admit to themselves that they even
have fears poor people prefer their
comfortable familiar routine compared to
something that could be potentially
risky and as a result it prevents them
from getting wealthy and the morale of
number three I can sum up with a quote
that I love which is you can tell how
successful someone is by the number of
uncomfortable situations they put
themselves into number two is how you
get paid poor people get paid in direct
exchange for their time so if you work
one hour at McDonald's you make ten
dollars in exchange rich people get paid
based on what they create and the
results poor people get paid by the hour
rich people get paid based on the
automations and systems that they set up
to make them money while they're not
actively working Michael Jordan was not
paid based on how many hours he
practiced he was paid based on the game
winners that he hit in the playoffs or
his end results and so the moral of
number two is rich people get paid while
they sleep regardless of whether or not
they're actively working and poor people
get paid in direct exchange for one hour
of their time and last and most
importantly number one which is learning
habit poor people go to high school or
maybe call
and they think that that's enough
learning for one lifetime
rich people never stop learning they
learn as much as they possibly can
because they understand that knowledge
is power whore people want everything
done for them they say I don't know how
to do it rich people also don't know how
to do it but they google it because in
the wise words of Jim Rohn formal
education makes you a living but self
education makes you a fortune and so to
summarize guys your mindset is what
makes the difference between being poor
and being rich how you spend your time
what you focus on and what your habits
are determine your wealth so tell me in
the comments below do you have the
mentality of a rich person or a poor
person and I'll pick my favorite comment
down below and I'll give you a shout out
in the next video so if you enjoyed this
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