Topic: 5 things you should not do with your money to get rich (Read 2409 times)
Rich or poor is like a mystery, today there are those who are rich but there is no guarantee whether a year or 10 years from now they will still be rich, and vice versa, people used to be poor but are now rich, if we pay attention in this life then many things seem to contradict this theory, maybe there are those who try to do everything to be rich but until now still poor.
I found that most comments that are against OP's argument are focused on rationalizing overspending. Here I am not offering any support to go against this but simply asking one question: behind spending with budget(plans) is a consistent discipline that benefit us through life, how come you just relate overspending to things that you truly like or want ? If you lack or lose that discipline, even you are rich, you will go broke sooner or later. Take Nicolas Cage as an example, early in 2000s, his earning from one single movie was over 10 or 20 millions dollars. He was super rich and yet, because of lavish lifestyle, he went for broke quickly and owed tons of money. In the last decade, he had to keep appearing in low-quality movies just to make money to pay his debts. I think those who agree with overspending are not rich and don't know how to manage finances either.
Even if you are on your OP you know that there is no perfect casino here cryptocurrency right? Almost all of the well-known casinos here that I have seen in signature campaigns weekly have only had issues that I have read, and most of them have been users on their platform whose problem was abusive.
And the others are still making up a story to destroy gambling that for them they were cheated and robbed, but the truth is that it is not really.
I found that most comments that are against OP's argument are focused on rationalizing overspending. Here I am not offering any support to go against this but simply asking one question: behind spending with budget(plans) is a consistent discipline that benefit us through life, how come you just relate overspending to things that you truly like or want ? If you lack or lose that discipline, even you are rich, you will go broke sooner or later. Take Nicolas Cage as an example, early in 2000s, his earning from one single movie was over 10 or 20 millions dollars. He was super rich and yet, because of lavish lifestyle, he went for broke quickly and owed tons of money. In the last decade, he had to keep appearing in low-quality movies just to make money to pay his debts. I think those who agree with overspending are not rich and don't know how to manage finances either.
1. Don't spend without a plan
Because if you want to save something or have some money, you should keep having plans when it comes to what you buy.
this is an important thing in managing finances I think, but sometimes things don't go according to plan, with the strength of commitment this will always be done,Because if you want to save something or have some money, you should keep having plans when it comes to what you buy.
always avoid platforms that offer discounts and purchase goods in installments,
Always separate your needs from your wants, always put priority on your need and your wants should not always be tolerated. Saving money and investing is the best thing to do, but that is not simple as that when it comes to investment, you should have knowledge of it before you invest so that you better understand what field you invest in. But saving alone won't give anything advantage to you, as an expert says, don't let your money sleep if you have, invest it wisely and let works your money for you.
5 things you should not do with your money to get rich or advance your lives
Saving doesn't make us rich, it just makes us more selfish with ourselves. If you want to become rich, you should work hard and give your best, not save. A rich person is someone who doesn't have to worry about money. If you have a lot of money but dare not spend it, no one will say you are rich. Don't just save money without knowing what else to do.
The tips given by th Op I agree with them.I would like to add that - Do not gamble with money you cannot afford to lose. Don't purchase items you don't enjoy. You can't buy health, so don't buy things that will ruin it. Avoid making investments in something you don't fully grasp. It is advised to invest in a field you are knowledgeable about, and lastly, exercise caution when lending money to friends and family.
5. Don't invest suddenly
This is advice with strong value. Riches can be very toxic and if there are no financial advisors wrong choice of investment can be made. Example, when Bitcoin reached its ATHs many predicted it was going to hit new highs, but the reverse became the case and such scenario can affect how much a wealthy person is worth especially when they depend on crypto investment for their net worth. the recent ATH really the example of a lot of newbies jump in directly to bitcoin its because they think it keeps going but they are wrong . The price drops and a lot of newbies crying in thr social media saying that the bitcoin is a scam. You cant really jump into investment if you dont have knowledge at all because that is a wrong move that lead you to big losses
5. Don't invest suddenly
This is advice with strong value. Riches can be very toxic and if there are no financial advisors wrong choice of investment can be made. Example, when Bitcoin reached its ATHs many predicted it was going to hit new highs, but the reverse became the case and such scenario can affect how much a wealthy person is worth especially when they depend on crypto investment for their net worth. 
1. Don't spend without a plan
Because if you want to save something or have some money, you should keep having plans when it comes to what you buy.
this is an important thing in managing finances I think, but sometimes things don't go according to plan, with the strength of commitment this will always be done,Because if you want to save something or have some money, you should keep having plans when it comes to what you buy.
always avoid platforms that offer discounts and purchase goods in installments,
into those people who dont have plans or dont set out those kind of targets which would really be resulting into those unplanned spending's but eventually be ending up
on having not able to achieve something in the end of the year.You cant really be that assure on what future you do have and on the things
that you are involving into.Always prepare for emergencies too.
1. Don't spend without a plan
Because if you want to save something or have some money, you should keep having plans when it comes to what you buy.
this is an important thing in managing finances I think, but sometimes things don't go according to plan, with the strength of commitment this will always be done,Because if you want to save something or have some money, you should keep having plans when it comes to what you buy.
always avoid platforms that offer discounts and purchase goods in installments,
Impulse shopping is the status quo of most people nowadays, and some people spend extra money purely because of vanity. Even with credit cards, you spend more than you earn.
Every month we can make a spending plan. Spend a certain amount each month and save the excess. Don't buy anything unnecessary. There can be an accounting book, and every money spent is recorded in the accounting book.
Every month we can make a spending plan. Spend a certain amount each month and save the excess. Don't buy anything unnecessary. There can be an accounting book, and every money spent is recorded in the accounting book.
What OP listed are definitely 5 things you should not do with your money, in my opinion. They won't get you rich, but I'm not sure the title was to be taken literally anyway. It's mostly about managing your money, the way I understand and I have to say - good tips. When it comes to getting rich, starting your own business is a way to go, but it does take time and requires some sacrificing ("some" being an understatement in most cases).
You are right, mate. I also think it is actually the point of the topic above. However, the title makes some people mislead the point.
5 things you should not do with your money to get rich or advance your lives
They may assume it is the way to get rich or to gain their wealth. Whereas it is actually the way to manage money, so we don't waste money on unnecessary things.Well, I agree that to be rich, it is not enough by having a proper way in managing money only. The first thing to do is to make efforts that can gain big money, running a business is surely one of the ways. Sure, to be successful in a bussiness, it requires hard work, patience, commitment, and trust.
There are many more list of things, steps or decisions never to embark on provided that one want to make rich in life, this has to do with principles that guide and support every human acts in doing something and the mentality they approach it through, I will like to put in these down as my list of what shouldn't be done in other to het rich in life.
1. Dont forcefully acquired it
2. Dont mock others being poor
3. Help as many as you can innyour capacity
4. Invest your money to maintain being rich in profitable assets like bitcoin
1. Dont forcefully acquired it
2. Dont mock others being poor
3. Help as many as you can innyour capacity
4. Invest your money to maintain being rich in profitable assets like bitcoin
True and people really should realize that you cannot be just rich from working 9-5. Days will come that your contract will end, get laid off and force you to find another job. If you're really looking to get rich, it should make sense that you build your own business whatever the kind and you would be able to value your services/goods to however you want.
It is risky though, but once it paid off, get ready to get your Lambo keys within few months.
Many people are rich because they have their own business that is developed from the beginning until they are successful, but the journey from personal business requires determination and effort without being discouraged, requires the support of family and friends to motivate us when trying to start our business development. But the safest work position from the risk of being laid off if we have civil servant status in the position of head of a strategic field office.It is risky though, but once it paid off, get ready to get your Lambo keys within few months.
The safest work would be in government, if you got a position there. In the past, I worked as a government employee (contractual, we will be renewed every three months) and I can tell you that if you want to work less but earn more, you should work hard to get certificates and apply for positions in government. Your future will be mostly secure if you get the higher position and fewer tasks because you will only need to plan out and you will have people around you to help you.
True and people really should realize that you cannot be just rich from working 9-5. Days will come that your contract will end, get laid off and force you to find another job. If you're really looking to get rich, it should make sense that you build your own business whatever the kind and you would be able to value your services/goods to however you want.
It is risky though, but once it paid off, get ready to get your Lambo keys within few months.
Many people are rich because they have their own business that is developed from the beginning until they are successful, but the journey from personal business requires determination and effort without being discouraged, requires the support of family and friends to motivate us when trying to start our business development. But the safest work position from the risk of being laid off if we have civil servant status in the position of head of a strategic field office. It is risky though, but once it paid off, get ready to get your Lambo keys within few months.
I have tried many of the techniques above but the result is that I am not rich yet. It is very easy to find a theory to get rich, but it seems that being rich is a mystery that is difficult to solve. I have a friend who, judging from the theory above, is not suitable, but he can be rich and I asked the thing he replied was to dare to take risks in everything.
Being rich sometimes is about fortune, this is something you can't force into your life. However, making efforts is a must, we don't know the result if we don't do anything. Some people do hard work to be rich, but they still can't be rich people. But at least, we can improve a bit our economic level if we do hard efforts. I'm sure we must have progress (improvement) in our economic level although we still can't be called as "rich people".Regarding taking risks to be rich, it is a part of efforts. Your friend does the right way, to get a big thing we must take risks. For example, we expect to gain big money from our investment. Buying Bitcoin now as an investment is surely very risky because it is very volatile and unpredictable. But it offers a possible big money if we succeed to sell it in the next bullrun. Not everyone wants to do this, it is only for a person who braves to take a risk.
I've seen many friends of mine reading the books with titles how to become rich, billionaires words etc. I don't know how this could make an impact over one's life. You know what you need to be and you are supposed to run for it. Maybe the words can inspire, but it is you and me to run. Set the target and run, surely one can turn rich even if he wasn't able to make himself a billionaire 
I personally think that there is nothing wrong with purchasing self-help books for tips and guides. But I do agree with some that there are tons of discussions about saving money, like this one created by OP in this thread.
Just to add what OP summarized already, always determine your wants vs your needs. The latter must be prioritized first since these are the things that are essential for your quality of life. In addition, before you invest your money, always do your research and avoid hastily investing without knowing on what you are investing on.
the most important factor for rich is a big income
Not that only about having big income but the way how you will handle and manage that income of yours. Because I've seen people made huge income but still didn't ended up with a bright future of how lack of knowledge they've got in terms of finance. Being literate to financial matters is a big thing and that's where the rich people are intelligent are. Working hard and smart isn't enough if you want to be rich but also being good in handling your finances.
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True and people really should realize that you cannot be just rich from working 9-5. Days will come that your contract will end, get laid off and force you to find another job. If you're really looking to get rich, it should make sense that you build your own business whatever the kind and you would be able to value your services/goods to however you want. It is risky though, but once it paid off, get ready to get your Lambo keys within few months.
If we want to get rich...then stop thinking about saving and look for an opportunity to grow our money and that is to keep investing. When I say investment, it should be put in a profitable investment, not elsewhere. Many people had fail to grow their money even though they have investments and that is because they also change their lifestyle instantly.
It is supposed to be this way;
- more investment - the same lifestyle
It is supposed to be this way;
- more investment - the same lifestyle
Yes, I'm with you on that mate. Saving in a bank or something like that is nonsense because that is already considered as dead money and there are a lot of chances that we will just tap that savings to spend on some things that we might regret later. Might as well put those same funds to a much useful way like investments so that the money will circulate and will give us passive income even we're still sleeping.
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