What are some habits that separate the rich from the poor?By Romano Miller



This article literally could make you rich by itself if you learn and understand it. There are many separating habits but I will list some very important ones:



The value of time

Rich people know the value of ti


me. Poor people don’t. Rich people treat time as money, and know they would rather make $8 per hour for 24 hours per day passively than making $16 per hour working 8 hours per day physically. Rich people know that time can be traded for money (give up time for work), but money cannot be traded for time directly.



Mindset

You can’t believe the rich want to keep the poor people down. So many poor people have this mindset and it hurts them because they give up. Rich people know mistakes are not real. They are only learning experiences. Poor people focus too much on mistakes and if they do get wealthy and have haters, they let the haters bring them down.


Compound interest

Again, rich people know about compound interest and how it keeps them rich. Rich people know why there are more banks than there are bowling alleys. You can become an inflation-adjusted millionaire if you only put away a few hundred dollars per month and get decent annual returns on your money in a few decades from now. Ditch the new car and put the money into a fund of some kind or your own investment strategy.



Motivation

The rich stay motivated and always looking for new things. The poor might be motivated but will get mad and give up easily if things don’t work out. You never know until you actually try. The poor find way too many excuses as well.


Health

The poor prioritize money before health. The poor people don’t realize that so much of what they eat everyday, what environment they are in, etc. play such an impact on their wealth. It literally keeps them poor. You have to have perfect health before wanting to make money. The rich focus on having perfect health and balancing stress to allow them to maximize their income potential.


Streams of income

I have heard that the average millionaire has seven, yes seven, sources of income. If you are not a millionaire, ask yourself this, “How many sources of income do you have?” If you only have one like most, build more income streams. If you don’t invest, invest if you can. Just focus on making the money you make work as well. And then the money your money makes, learn to make that money work for more money, and so on. You get the idea.



Spending money

You can actually become moderately wealthy with a middle income job. The poor are taught to buy new cars, buy expensive clothes, rent forever, go on lavish vacations every year, while the rich might do all of this, but they prioritize differently. The poor save up to spend money. The rich save up to invest money and then spend money. Big difference here. And learn to avoid assets that go down in value- this is why many of the rich still drive used cars.


Up to you

Alright. I listed a few good habits. Now it is your turn. If you want to become wealthier, there is no easy way out 99.999999% of the time. You have to follow these steps above to change yourself if you have not already. Trust me, your future sell will be glad you did.

Feel free to comment any more habits that come to your mind.





Skylar Business does not own the rights to this article. Sharing for educational purposes only. Link to original article: https://www.quora.com/What-are-some-habits-that-separate-the-rich-from-the-poor


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