I Became Rich When I Stopped Buying These 5 Things
Stop burning your money.
The poorer you are, the more likely you are spending money on these six things, which is also why you are poor.
This creates a vicious cycle that is hard to escape, but you simply have to develop these five easy habits (or break these five habits) to retake control of your money.
1. Stop pre-paying
If you can’t afford it, you can’t afford it. Spending thousands of dollars on a car loan, or even to rent a phone or a luxury bag. Just buy it this month, there’s still next month…
Although this lifestyle appears to be very luxurious and comfortable on the outside, the money you need to repay every month is holding you back, pulling you away from your dreams and freedom.
Don’t believe the salesperson who tells you that you deserve the best. You need to know yourself. What can you afford?
Set a limit for your spending each month. Once you get your income, put the rest away into a savings account or an investment account to completely cut off your temptation to overspend.
2. You don’t need that exquisite life
A famous shop, a Starbucks coffee, a Michelin-star restaurant, a luxury brand, a new trend…
It will fulfil your ego and help you gain face, and you may believe you are simply giving the best to yourself or valuing your happiness most, but there is only one result waiting for you… You won’t have any money left in the end!
Living an extravagant lifestyle won’t make you poor, but having no money and chasing an extravagant lifestyle will never make you rich.
If your current income cannot support an exquisite and fancy lifestyle, let go of your ego and start being yourself.
3. Stop hoarding to save money
You need something, but to get that free shipping fee, you buy three other things. There is a sale for buy 5 get 1, so you end up getting 6 things you don’t even need.
A website is cheap, so you end up buying a lot of unnecessary small products.
Whether it is online or in-store, get into the habit of creating a list of things you need, and shop with a plan. Only buy what you need.
4. Stop paying for things to try and replace hard work
“If you buy this, you can become…”
If you want better skin, start sleeping earlier and eating cleaner instead of buying a bunch of expensive skincare products.
If you want a healthy and fit body, start eating a balanced diet and exercising, instead of buying workout clothes or a gym membership.
Don’t use money to try and replace the dedication and work you need to put in. Spending money won’t make you any better. The only way to get better is to put in the work you need.
5. Stop buying cheap things
This may seem counter-intuitive, but it is easy to want to get something because the price is low.
Instead of buying the better high-quality product, you buy a cheaper version of it, thinking it will be enough.
However, instead of wasting money buying several cheap products, it’s better to just get one high-quality product.
For cheap products, you only feel the greatest happiness when you are buying them. Afterwards, it is all going to be regret and suffering.
Stop trying to chase the appearance or perception of being rich. Instead, focus on growing your net worth.
You can only rely on yourself, and your confidence will come from the money you are holding tightly in your own hands.