Rich people spend money on these 3 things (The poor don't
My boss said to me ,Teco
Every year, I travel to Dubai at least twice to refuel and recharge before returning to this "booharized" Nigeria
I just love Dubai so much (and Abu Dhabi too even though I like going to Abu Dhabi in Nov/Dec)
When you think about it, each vacation trip I make to Dubai cost a lot of money because I have to pay for a lot of stuff:
Flight and Visa
A high class hotel
Meals
Entertainment
Etc
So, how do I get money to do this?
One major way is because I have disciplined myself over time to spend my money on what majority of people don't spend money on.
These same things are what the Rich spend money on which is why they make more money
Let me share 3 of them with you
Until you start investing on these 3 things, you will always be struggling when it comes to financial issues
(1) Assets:
Assets here mean "Stuff that puts money into your pocket" without much effort from you.
Examples are real estate, income producing systems, businesses, stocks etc
In my own case, I invest in various income producing systems mostly online and I have also started investing in real estate recently.
The opposite of assets is "liabilities" and this is what many poor and average people spend money on so that they can look rich.
You probably know at least one person who is in debt just to buy the latest Iphone XS for N615,000 and show off
People with rich mindsets don't get themselves into debt just to show up.
They will probably invest that N615,000 into an asset that will at least double it, then they can go and buy the Iphone.
(2) KNOWLEDGE:
There is one common thing I have noticed about all the rich people I meet.
They are always passionate about getting knowledge.
They invest their time and money to get it.
But guess what?
People who struggle with money rarely invest in knowledge
They are usually the ones who would rather bet N100,000 hoping to win big rather than spend N5000 on a good book.
They keep looking for miracles and breakthroughs.
Like many successful people that I know, I am always investing money in books, courses, programs, mentorship that will help me
How much have you spent on books or educational programs this year compared to how much you have spent on food and clothes etc?
The difference will tell you if you are someone with a rich mindset or a poor mindset.
(3) Time:
Time is 24 hours for everyone regardless of if you are rich or poor.
The rich know this and that is why they buy other people's time to help in achieving their goals.
The only strategy that Poor people have is to sell their time and they keep going round and round.
There is nothing bad with selling your time at the beginning if that is what you have but in order to grow, you shouldn't remain there.
You have to pay other people for their time so that you can get improved results.
I hope you have learnt something from this short writeup.
And i sai yes.
Honestly it was a nice one
Thank you mentor.
Teco cares
