Here are 7 surprising things the rich do with their money that you need to start doing
Getting rich may seem like an uphill task for most people, but staying rich is actually more challenging.
If you’re surviving from paycheck to paycheck, there are things you can do to kick this habit, and start living a more financially rewarding life instead.
Here are some 7 surprising, but really simple money hacks that rich people use to keep from going broke.
You can add some or all of these into your own life and finally get yourself on the road to financial independence.
1. They buy secondhand
Have you been to Toi market or places where secondhand stuff is sold cheaply? If so, you’ve probably met with quite a number of people you’d ordinarily refer to as rich, some even parking expensive cars by the side of the road just to get in and buy secondhand stuff like clothes, toys, and bedding. This is one of the ways rich people save cash, instead of blowing out huge amounts in high end clothing stores. It’s good to buy new stuff once in a while, but if you want to go on a vacation or enjoy a good meal at an expensive restaurant someday, try this money saving hack.
2. Get thrifty
Rich people do their homework. If you’re a fan of the Kardashians, you probably know how Courtney is big on coupons. She has the money to buy anything she wants, but she swears by coupons on any, and everything. Save, save and save some more money – that’s the main thing about getting thrifty. This also means you do thorough research to get the best price for something before you buy it. Nothing is more frustrating than buying something expensively, then finding out there was a more affordable price elsewhere for the same item.
3. Get a side hustle
These days there’s no way you can rely on one income source. Side hustles are great ways of supplementing your regular income, so if you’re talented in some way, start a business on the side and make extra cash from it. If money is stopping you, take a loan or work for it, just keep moving. If you look at many top artistes, they’re also business moguls because you just cannot rely on one thing, because when it disappears, you’re back at one.
4. Take only what you need
This rings true because when you get stuff you don’t need, it becomes a waste of money, and only adds to the clutter around you. Check for budget friendly prices on various items, but only get what you need, not want.
5. Chart your path
When you believe in yourself, and know what you want, don’t look back. Take the necessary risks, learn from those who have gone before you, and never be afraid to ask for what you want.
6. Get a mentor
Surround yourself with good people. In fact, you need an encourager, and a lightning rod. These two will shape, rebuke, and help you grow as a person. A good mentor will help you stay level-headed, and you can learn a lot from them, even about money.
7. Dressing to impress does not have to be costly
Have you ever stopped to ask someone you consider rich, how much his/her outfit costs? You’ll be surprised if they counted the numbers for you. The rich have mastered the art of knowing how to mix and match fashion items to look the part. You need not go to the latest boutique to get the best outfit so as to stand out. Confidence and attitude are your best bet if you want to look rich!
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