OP, you should also take into account that the people you cited as examples should not be compared with ordinary, average people. Public people who earn money simply by coming somewhere have a completely different way of thinking and attitude towards money. All the debts committed by Nicolas Cage are not the amount you imagine.
As for ordinary people, if you have the money to buy an expensive thing that will still be much superior in quality to a cheap one, then it’s worth buying. It will serve you longer than dozens of its fakes. However, as in everything else. If possible, you need to buy quality things, eat quality food, and live in good conditions. I think any normal person strives for this.
Constantly depriving yourself of everything, but at the same time having the opportunity to live better, you will turn into a miser who will completely lose all zest for life. Agree, that even poor people like to pamper themselves with expensive things.
Topic: Things to avoid when you earn a lot or become rich - page 11. (Read 1636 times)
Getting all the debts or as much as possible should be the first objective, because debts inject a sense of panic and restlessness in the borrower and this leads to diseases. Next should be savings to be able to plan for the future if possible in a bank and some for buying bitcoin at the lower prices.
Next should be daily necessities and leading a humble life because you dont want to show the world you are rich and gain attention, that leads to disastrous results but continue in your lifestyle and gradually upgrade it.
Savings are very important, most people forget this and they instead spend more than they can afford.
Next should be daily necessities and leading a humble life because you dont want to show the world you are rich and gain attention, that leads to disastrous results but continue in your lifestyle and gradually upgrade it.
Savings are very important, most people forget this and they instead spend more than they can afford.
To continue being rich one must make sure that his income is way more than his expenditures. This way his cash flow won't be in negative and avoid reverting back to being poor. One should not be complacent when he suddenly becomes rich, instead should prioritize learning financial management while at looking for profitable investment ventures to produce more wealth.
I also agree that it is ok to buy expensive things but on the condition that the money spent does not exceed the profit. This way the financial capability of a person won't be affected negatively, that is if the person wanted to maintaining its status of being rich.
I believe it's okay to buy expensive things right away, as long as we need a small share of wealth to do so and such purchases won't endanger our condition by depriving us of resources we might need for other purposes. I do agree that it's good to ask yourself about the goal, and that buying stuff to impress other people isn't smart, but if it's something you really want, and it makes sense to you, it's okay to buy it.
Of course, if you have outstanding debt, I agree that it must be the first priority to pay it off, and it's not good to take more debt.
Of course, if you have outstanding debt, I agree that it must be the first priority to pay it off, and it's not good to take more debt.
I also agree that it is ok to buy expensive things but on the condition that the money spent does not exceed the profit. This way the financial capability of a person won't be affected negatively, that is if the person wanted to maintaining its status of being rich.
If you’re lucky enough to become rich you should avoid excessive materialism, flaunting your wealth & surrounding yourself with money focused individuals. It's important to prioritise financial responsibility, seek genuine relationships & make informed investment decisions. You should avoid neglecting your personal well being & prioritise mental & physical health. By avoiding these pitfalls you can maintain a balanced & fulfilling life as a wealthy person.
That is actually the most common way most individuals from rags to riches do. I can even see people posting something they achieved in life on social media and I personally do not have any problem with that because it's their life not mine but yeah it all comes with risks we all know that. Lavish lifestyle could make us down again and showing off all of your wealth on social media could also pose threat to you and your family's safety so beware of it. 
If you’re lucky enough to become rich you should avoid excessive materialism, flaunting your wealth & surrounding yourself with money focused individuals. It's important to prioritise financial responsibility, seek genuine relationships & make informed investment decisions. You should avoid neglecting your personal well being & prioritise mental & physical health. By avoiding these pitfalls you can maintain a balanced & fulfilling life as a wealthy person.
I believe it's okay to buy expensive things right away, as long as we need a small share of wealth to do so and such purchases won't endanger our condition by depriving us of resources we might need for other purposes. I do agree that it's good to ask yourself about the goal, and that buying stuff to impress other people isn't smart, but if it's something you really want, and it makes sense to you, it's okay to buy it.
Of course, if you have outstanding debt, I agree that it must be the first priority to pay it off, and it's not good to take more debt.
Of course, if you have outstanding debt, I agree that it must be the first priority to pay it off, and it's not good to take more debt.
Experience lets us know what mistakes/rights are appropriate for the life we are living, I once saw a saying "poor people have money" yes in this situation I think it reflects this. there.
Lack of knowledge, skills... even if you have a lot of money but don't know how to spend it properly, you are no different from a poor person. But in essence, I see that most of us cannot avoid the seduction that money brings, it governs our behavior so that we have many choices that we have never satisfied, but at a certain point. that will also realize that it is just a means to help us find a fulfilling life.
Lack of knowledge, skills... even if you have a lot of money but don't know how to spend it properly, you are no different from a poor person. But in essence, I see that most of us cannot avoid the seduction that money brings, it governs our behavior so that we have many choices that we have never satisfied, but at a certain point. that will also realize that it is just a means to help us find a fulfilling life.
Most of nouveau riche are raised from poor or middle class people, they want to show everyone if they're successful and rich, unlike old money where their parents already teach money when they were young and they've enjoyed rich lifestyle.
It's why new money are in debt or back become poor, they don't high knowledge about money.
Even people have told them to invest their money and how to earn high amount money in the future, they don't realize it.
It's why new money are in debt or back become poor, they don't high knowledge about money.
Even people have told them to invest their money and how to earn high amount money in the future, they don't realize it.
What should you do when you have a lot of money? This is one of the most important questions that we must give an important answer to. No matter how much money a person can earn, it is still possible for everyone to use it up if it is not managed properly. Just like what happened to the king of pop, Michael Jackson, even though he earned a lot of money in his career, it was still not enough because he had a lot of debt. As big as it is, it almost reached 500 million dollars in debt. And even the famous actor Nicholas Cage is also like that; there is a report that he reached 150 million dollars in net income, but it was still not enough; it also reached the point that it was all used up, and he also had a debt. And what we can learn from these events is that if you want to stay rich, you have to keep being humble. "Hard-earned money should be protected."
We are both consumers and producers, and when we say producers, we mean that we provide services to people in exchange for money. As for employees, they receive wages from their work. Because they help the business owner's goal be executed. As for business owners, they make money from their businesses. Because they can help their customers with their products and services. In other words, [The more value you can produce, the more value you will get back."
But the opposite of this is being a consumer. Yes, it's true that we will spend; it's normal because we have needs. There is also nothing wrong if we want to buy or acquire things. But if you always spend money, that's why, in this topic, I want to share here the things that should be done when we have a lot of money or income. Because since we are here with cryptocurrency or bitcoin, it is not really far for this to happen to us. Actually, even if we are not rich or earn a lot, we can do it because at least when the time comes when you become rich because of this cryptocurrency or bitcoin, you already know what to do.
And the following is what we should do:
1. Don't buy expensive things right away.
Most of us want to buy expensive things when we receive a lot of money. Because aside from the convenience and the fact that the fact that we can benefit from it for a long time, we also want to get the attention of other people. We also cannot deny when we can afford something that an ordinary person cannot afford. But sometimes, because we can afford something, we just end up spending it, and we forget to ask ourselves if we really need it. Or we just want to buy it because we want to impress other people. And due to a lack of spending awareness, we become impulse buyers. Until this habit becomes our second nature or the worst, we base our spending on what we want other people to see in us.
But the question is, what is our goal? to get rich to impress, or to get rich to have freedom? When you have a lot of money, you have nothing to prove to other people. Since you know that you are rich, it is a better idea not to let other people know that you are rich. One should just choose the simple life and live with a purpose.
2.Pay your Debt
Having debt or bad debt is why most of us continue to suffer because it's like a weed that, if you don't cut the root, will grow again. And the debt, when you don't pay it, has interest compounding. So your number one expense is to pay off the debt when it earns a lot of money. Be responsible not to ignore the people we owe money to, talk to them, say thank you, and pay all the debt.
We should also know that our reputation also depends on it, and when we know how to pay, many people will trust you. And when you know how to pay off debt, you also show that we are not only thinking about ourselves.
3. Be prepared for big changes.
When you have a lot of money and you have changed the quality of your life, whether it is poor or rich, you need to be doubly careful because you can lose a lot of things. So it is very good that you are ready for this big change. And the preparation that you should do is the preparation of our new life. Let's design our new goal that we want to achieve, and what lifestyle do you want and what kind of person do you want to be with?
We need to do it more when you're rich, because you shouldn't settle for what we have achieved now. We still need to move on and pursue other meaningful things. We also need to grow, and we shouldn't be naïve in our behavior because many people will suddenly show up when they know they can get something from you.
4. Create a new goal.
Let's be grateful for our achievements and also be thankful that they came to you, but don't be satisfied that if you earn a lot of money now, be thankful. We should not be as greedy as possible. If we achieve our first goal, we make another goal, and so on.
Success is like cleaning; if you clean your house today, you will have to clean again tomorrow. And we'll do it every day, so we can keep a clean house, right? So, when we are living a rich life, we have to set a new target.
We are both consumers and producers, and when we say producers, we mean that we provide services to people in exchange for money. As for employees, they receive wages from their work. Because they help the business owner's goal be executed. As for business owners, they make money from their businesses. Because they can help their customers with their products and services. In other words, [The more value you can produce, the more value you will get back."
But the opposite of this is being a consumer. Yes, it's true that we will spend; it's normal because we have needs. There is also nothing wrong if we want to buy or acquire things. But if you always spend money, that's why, in this topic, I want to share here the things that should be done when we have a lot of money or income. Because since we are here with cryptocurrency or bitcoin, it is not really far for this to happen to us. Actually, even if we are not rich or earn a lot, we can do it because at least when the time comes when you become rich because of this cryptocurrency or bitcoin, you already know what to do.
And the following is what we should do:
1. Don't buy expensive things right away.
Most of us want to buy expensive things when we receive a lot of money. Because aside from the convenience and the fact that the fact that we can benefit from it for a long time, we also want to get the attention of other people. We also cannot deny when we can afford something that an ordinary person cannot afford. But sometimes, because we can afford something, we just end up spending it, and we forget to ask ourselves if we really need it. Or we just want to buy it because we want to impress other people. And due to a lack of spending awareness, we become impulse buyers. Until this habit becomes our second nature or the worst, we base our spending on what we want other people to see in us.
But the question is, what is our goal? to get rich to impress, or to get rich to have freedom? When you have a lot of money, you have nothing to prove to other people. Since you know that you are rich, it is a better idea not to let other people know that you are rich. One should just choose the simple life and live with a purpose.
2.Pay your Debt
Having debt or bad debt is why most of us continue to suffer because it's like a weed that, if you don't cut the root, will grow again. And the debt, when you don't pay it, has interest compounding. So your number one expense is to pay off the debt when it earns a lot of money. Be responsible not to ignore the people we owe money to, talk to them, say thank you, and pay all the debt.
We should also know that our reputation also depends on it, and when we know how to pay, many people will trust you. And when you know how to pay off debt, you also show that we are not only thinking about ourselves.
3. Be prepared for big changes.
When you have a lot of money and you have changed the quality of your life, whether it is poor or rich, you need to be doubly careful because you can lose a lot of things. So it is very good that you are ready for this big change. And the preparation that you should do is the preparation of our new life. Let's design our new goal that we want to achieve, and what lifestyle do you want and what kind of person do you want to be with?
We need to do it more when you're rich, because you shouldn't settle for what we have achieved now. We still need to move on and pursue other meaningful things. We also need to grow, and we shouldn't be naïve in our behavior because many people will suddenly show up when they know they can get something from you.
4. Create a new goal.
Let's be grateful for our achievements and also be thankful that they came to you, but don't be satisfied that if you earn a lot of money now, be thankful. We should not be as greedy as possible. If we achieve our first goal, we make another goal, and so on.
Success is like cleaning; if you clean your house today, you will have to clean again tomorrow. And we'll do it every day, so we can keep a clean house, right? So, when we are living a rich life, we have to set a new target.
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