Topic: 5 things you should not do with your money to get rich - page 8. (Read 2236 times)

Number 1 could be simplified as just don't spend on something that you do not need at times that you are financially at risk.
It is perfectly fine to buy your wants, but bear in mind on if you would need that money to pay your bills or nah. People think that buying their satisfactions pays off their bills automatically.

Another one I would like to add up is don't loan if it is only for your wants. Better hold that money that you are planning to use for your PS5.

There was never a specific path to success, and the OP never guaranteed his suggestion was flawless, but I believe the highlights are simply common sense that anybody would take, even so-called expert consultants. To achieve success, you must begin your journey and see what it takes to achieve a level, and what will guide you are yourself and your failures, though there are some people who are naturally lucky and may not see any failure throughout their journey to become rich, they exist and that's how life treats, now imagine wanting someone who was a favour and you want to be like them when you are not built that way, that is how life work.

There's no need in explaining on how to make your money work for you, because everything is available in the internet. If you want it to be more detailed, then you should attend to seminars in stuff like these.
And also, stock and crypto aren't the only asset that could make your money work for you or in short "passive income". Have you ever heard of real estate? That will give you unlimited income once you fully developed your properties.
Buy a land, put up a commercial building and voila! But then of course, you'll need a thorough planning before you achieve the kind of success.
For the meantime, if you still don't have a capital to make your first step, then you should put your money in Bitcoin and let it sit and grow for a few years.

This is important information that can make someone lose money. Many people invest without research when they see friends going for it. This kind of investment is a trap. Like during ICO, many of the project was scam but people invested because of the promise of financial benefit and they didn't take time to study the market at the time. Doing proper research on project is advised and investing what you can lose is advisable.

Many people say that if you want to be rich, don't just save in the bank but have to work for us all the time, but they don't explain how and what are the steps so that the circulation of money becomes like a waterwheel that keeps turning? and what business to run. and most of them answer stock or crypto investment! is there no other way to get passive income other than investing in stocks or crypto? If there is, I hope you share. anyway, I can't run the 5 suggestions in the OP's thread he suggested on the start page if I don't have any money or income

OP's 5 tips as far as I understand he is simply talking about saving and I agree with you that saving does not bring wealth to anyone. If we want to be rich, we have to work non-stop, work while others are sleeping, have to get up every time we fail...and the important thing as you mentioned: use money to make money, don't let it enrich the bank.
OP's 5 tips are also quite useful, whether rich or not, don't waste too much, save or use the money to do useful things for society.

the point is to know the most basic needs to ordinary needs, because many people spend money just for something they don't need themselves.
Adopt a simple and reasonable lifestyle.No need to follow the social media virus that often poisons our lifestyle. Better you live a simple lifestyle, but have a lot of assets, than most styles but continue to drain your wallet.

I would also like to add that attitude is very important too if you aim to get rich in crypto investments or whatever investment you want to engage in. Aside from having discipline, an investor should also focus on having positive mindset and being an open minded person because that will help him overcome all the trials when investing. If he has a great attitude towards investing, he will most likely to succeed in the future.

Now making money is a little more difficult so if we get money we should be able to do it usefully for more important purposes than useless things, maybe we should save a little and don't spend too much money because it's not useful, I think we every month I have limited expenses such as paying rent, electricity, internet, water, other necessities. These are of course important needs that must be there every month, so I always record expenses for anything, including monthly expenses.

But if money is used to treat friends, party, watch movies, travel for entertainment, I always think about it first, where there is something more important, then money must be used for it.
At least by saving we can save more money for other needs.


Investing is not seen from a profit alone but seen from how ready we are to do it and mentally later, long-term investment can be from gold, stocks, property, bitcoin and other types we must understand first, if investing follows others without there is experience from us then it will fail because we can't control it, because for me something related to investment then we must understand first, don't be careless just for fun, for example, I myself know more about investing in bitcoin than others, so I now more focus on this investment and run it all the time.

My advice to shorten the way to becoming rich is not letting money rest. Let money work all the time. Avoid situations when you economize or save money and do nothing with them. Inflation is your main enemy. Choosing cheap instead of quality is also a big no. Quality item or service will last longer give better experience.

But you should always understand, that even following each and every advice from this forum or from anywhere else, wont guaranty that you will get rich. Sometimes doing exactly opposite by that 5 things from first post will make a person rich.

You would have made it sound this way
5 attitudes you should not display when you have money in advancing your lives
Many people are guilty of these 5 attitudes you mentioned above. When they don't have money, they will try to be economical in whatever they are doing. They spend less but the moment they have money on their hands they spend without a list of plans.


Money has pushed many to buy irrelevant things to prove to their friends they can buy expensive things and live largely.

I appreciate that everything you wrote is accurate, beginning with
Spending without a plan is a risky game to actually play because most people like to brag and try to impress others. You won't ever be held responsible for your spending, and as the saying goes, if you don't plan, you're preparing to fail.

Generally speaking, bragging is not a good thing. Be humble, keep your head down, enjoy life, and assist those in need if you can.

Some of the worst ways to quote on this thread's first page. Quoting an entire OP that is this voluminous is just something that shouldn't be done. Should the whole thread be of reference, we are already in the thread and quoting might be unnecessary and should it becomes necessary, just a snip would do.

Looking at the details in the OP and the subject of the thread, I thought more about the thread describing ways of making sme false or bad investments but instead, its about bad spending habits.

Don't Invest Suddenly. This is where it makes sense. I'll say, don't invest in a trade you've got no idea about. Either you seek professional knowledge or you take the time to study the trade yourself.

When you've got the money and it's like an infinite supply of money on your possession. It's like that you can do everything that you can and you want to buy almost everything that you want.

Someone who can't control himself with that possession is bound to be poor again if he's from zero to hero and then don't know how to manage his money or didn't seek help from financial experts on how to handle his money properly.

This seems like the basic thing in money management. Better money management, better money condition. Money management includes the way you get the money, plan, and also spend the money. Everybody may have different money management with their own plans based on their needs and future planning. So, this will depend on how you want to make it. Here, dividing the money into several things is necessary to know how much to spend for now, for premier needs, for other needs, for urgent needs, and also for the future. This will also include free money to be used for investment or other activities.

Unfortunately, this may become one of the reasons why many people become the target of robbers, and criminals because they brag about their money moreover in social media. It is needed to be calm and low profile even if we have a lot of money.

Exactly, if we have a lot of money, it is better to buy the premier needs first. AFter being fulfilled, we can divide the money into some necessary. You actually don't mind buying something that losses value like cars or others, but as long as we have the limitations and we have investment. We have better make it for investment that will pay you passive income.

We make hasty decisions in many areas of our lives. I generally suffered from this. I am successful when I think for a while and find wise methods and decide without haste. I see this as the most important item. Because when we suddenly decide to invest, we don't think about it enough. We only think about the result we want it to be. It usually doesn't happen. Because a sudden decision brings with it deficiencies.

You can also add to not to do with money is to be generous with your friends.  if you become generous, your friend will exploit you and suck you dry, and leave when you don't have money anymore.


Most people who brag about money online or in public are probably a network marketer.  They need to show their assets in order to make people believe that they are earning in their networking company.  Other than that, it is normal for parents to brag about their kids earning with their friends.  Parents are proud that their kids is established.


True rich people dont' brag their wealth, they even misdeclare their income to reduce the amount of their tax.

I know this one is hard to avoid and even becomes unstoppable for others but if you are thinking for its long term effects, you will only suffer from having wrong management of funds that will put you on being financially broken. So if you can manage to refrain from doing it, do it now because that will only be the best way so you can manage your finances and save a good amount in the future. No need to focus on your wants and other prestiges in life, live life on its purpose and just stick to your own needs.

You are right which you would really be having questions on mind on how the heck these people do really brag out that they have lots of money in public which is really a safety hazard.
You are really putting yourself in harm.Real rich people wont really be having that kind of behavior but rather then would really be just keeping silent and would continue
on what they are doing and accumulate as much as they could without the need of bragging out because they do know that it could really put them on harm on doing so.
Getting rich doesnt really able to get overnight.It is something that you would need to work hard and be wise on every decisions you would be making.

About bragging money, it's becoming common these days to be showy to the public that you've got a lot of money. But usually, when someone does that, they're most likely broke.

The real rich folks don't share that they've got a lot of money and what they're sharing are their words of wisdom. Bragging comes with responsibility and it may be the reason for your harm.

Just spend money wisely and don't be like a one-day millionaire.