Spending, the foolish passtime.

consumer-spending

People desire money, they desire money for more than just paying bills and survival, they desire money in order to buy and spend.  They want money to buy items to make their life easier, they want new clothes, the latest styles and technology, to buy new cars, to decorate houses and all of the trappings of life in the Western World.

But are we being foolish with our money, are we making huge mistakes by spending rather than investing?

When we spend we are usually lining the pockets of the wealthy business owners who have become wealthy from our desire to spend and keep up with society however we must ask ourselves how the wealthy first got their wealth?

At some point a wealthy person wasn’t wealthy, even if they are born into money, somewhere down their family line someone was poor and became rich, after all no one was born or evolved with money. So how did the person make their money in the first place? Money doesn’t grow on trees so we know they didn’t plant it, they may have stolen it in some ancient pillaging event and then just passed that wealth down the line or the chances are that many earned the money and made their money the old-fashioned way.  I can assure you that any money they made they probably spent a tiny amount and reinvested the rest into making more money.

Rich people don’t get rich by spending they get rich by saving and investing. Some wealthy people might have gotten rich by stumbling upon a get rich quick scheme but not all, again you’ll find that most had to work hard and reinvest in a business idea. It is the business ideas of the wealthy on which we spend our money, buying up their products in order to keep up with society around us, however are we missing the bigger picture?

It seems to me that in order to become rich you must first make yourselves poor and not spend.  Rather than buying we should be saving or investing in some great business idea.  When we fail to keep up with society and its spending habits we are in fact seemingly poor or in poverty but we are only poor for a time because as soon as our investments or savings yield a harvest we spring past, above and beyond, society at large into the sector of the wealthy at which time we can spend.  Once we have enough money to save reinvest and spend, once we are spending out of our interest at the bank and not our income itself, once we have ensure enough money to pay cash for anything we buy rather than taking on debt, then and only then should we spend, or we will continue to line the pockets of the wealthy while never coming close to being wealthy ourselves.

My advice to you is this:

  • Chose to remain poor so that you can become rich
  • Don’t spend unless it is to invest
  • Buy only what you need and not what you want
  • Don’t line the pockets of the wealthy until you can out of your own wealth
  • Don’t bow down to peer pressure because your peers will never be rich
  • Invest until something pays off
  • Try and try again
  • Never give up and be tempted to spend because one eventually has returns the other only returns products
  • Stay focussed
  • Choose your own level of poverty not the level set by anyone else
  • Have a die-hard mentality about it

I firmly believe that these steps are the path to wealth from the study of the wealthy and personal experience.

Always remember that generosity is a part of good investment, as Opera Winfrey always say she has found that the more she gives the more that comes back to her.

 

Good luck and good investment.

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