Why You are Not Rich
@rosettaresearch (1285)
United States
October 11, 2008 10:47am CST
It's not about your income, it's what you do with the money you do make:
http://finance.yahoo.com/banking-budgeting/article/105934/10-Reasons-You're-Not-Rich
I found this very interesting. I also said you should like your job, not just being going into it for the money. Finally, an article that articulates the reason.
Anything that strike you as something you did not think of before in this article?
Anything that was a "no kidding" for you in this article?
2 people like this
6 responses
@3SnuggleBunnies (16374)
• United States
14 Oct 08
I think the one that rings true for me is the one about the Car. I hate making a car pmt but darn it I need a reliable vehicle and it's not like dear ol' dad & dh or your brother can just "fix it" for ya like they could 20+ yrs ago... there's so much that an everyday schmoe can't do seeing everything has computer componets ect.
I wish having a house that's "too big" was our problem! *LOL* If we go any smaller we'd be in a cardboard box & that would be awful crowded!
@rosettaresearch (1285)
• United States
14 Oct 08
I think the point about the car is people buy a new car every couple of years, even if the old one is still running fine. If you need a new car becaue your old one broke, well, yeah, get a new car. But, if you are buying a new car just ot have a new car, you are an idiot. If you need a new car becaue the old one broke, that is a necessity, If you buy a new car because you want a new car, that is a want. If you buy wants instead of waiting for necessities, you will never be rich.
@3SnuggleBunnies (16374)
• United States
14 Oct 08
I tend to hang onto my vehicles longer than my DH. HE's gone thru as many vehicles as we've been married as he's never "happy" for one reason or another. And I get the honors of alot of "I told you so" lectures... witch suck because he won't listen.
@happythoughts (4109)
• United States
14 Oct 08
I am guilty of buying things I dont need as Im sure a lot of us are. I think there are a million reasons that I am not rich and they all take their toll on my bank account. I try to keep track of all my pennies but sometimes I just watch them go away.
@rosettaresearch (1285)
• United States
14 Oct 08
Don't be so busy tracking the pennies you lose sight of the dollars. Sometimes, its the big things too. Like the car or the house or the cable plan. Calbe is a great example. How many channels do you really watch? Would you really miss anything if you downgraded a bit?
Don't forget to actually turn those savings into savings. Take the money you would spend on calbe and put it away. That's the other problem. People cut down somewhere and promptly spend it. You save $5 on cable so you go out again. Or you stop at starbucks. That money is just as gone as if you spent it on the cable bill. Cut where you can and then put it away to build on.
@highflyingxangel (9225)
• United States
11 Oct 08
I didn't really find anything in this article that I didn't already know. I know that if you feel entitled to live well beyond your means or feel like you need to keep up with everyone around you, then obviously you're not going to really gain anything, you're only going to lose. Not to mention if you buy things you really don't need. It's just another way for you to lose money.
@thebeaddoodler (4262)
• Lubbock, Texas
14 Oct 08
I hate articles like that. I've spent my whole life trying to better myself, upgrade my education to get a better job etc. etc. etc. but always just barely making ends meet. And I'm a relatively frugal person. Then along comes someone who wants to say that the reason EVERYBODY isn't rich is the car you drive or the house you live in or your priorities. Frankly I'm not rich because I never made enough money to get ahead! I'd like to see this bozo get rich on what I've always made.
You, my friend, are in a better position right now than I ever was in my whole life, so you take anything in this article that you think will do you some good and run with it. But believe me it doesn't apply to EVERYBODY.
@Lee_Rites (845)
• United States
11 Oct 08
Thanks for the link. That was a good article. Money's been kinda tight lately so I've been cutting back. A lot of those things were the first to go. Like buying things outta bad habbits.
@rosettaresearch (1285)
• United States
11 Oct 08
Breaking bad financial habits is the first step to sound financial health. And all those other cliches.
@lavendar (99)
• United States
14 Oct 08
It indeed is a good article!
As it says in the article that "Becoming a millinaire has less to do with how much you make, it's how you treat your money in your daily life".
I think I really have some bad habits that make me not rich, that "buy things I don't use".Sometimes, I go to the supermarket or malls, just bought things that attracted me, however, I won't use them at all in my daily life. So I think I should make a must-buy things list before I go to market or malls!
Thank you very much, rosettaresearch!
