The difference between the middle class and the rich

Author : Corina Zhang Source : Release on : 2016-09-06 09:57:26

The middle class have things, the rich have money

"Too many people spend money they haven't earned, to buy things they don't want, to impress people that they don't like."--Will Rogers

Back to the fancy cars and big houses. That's where much of the middle class spend their money. Drive through a middle class neighborhood and you will usually see brand new cars, expensive landscaping and high-dollar homes. The rich understand that to become wealthy, you have to want money more than you want things. If you keep buying things, your money will keep going with them. It's funny how that works. For example, Warren Buffett still lives in the same home he bought in 1958. And he only paid $31,500 for it. Stop buying things and start focusing on keeping, saving and investing the money you earn. If you are a shopaholic, start shopping for assets. Become interested in investing, then look for bargains on stocks and businesses instead of shoes and electronics. That being said, it's not all about saving your money.

The middle class focus on saving, the rich focus on earning

"Your greatest asset is your earning ability. Your greatest resource is your time."--Brian Tracy

"If you would be wealthy, think of saving as well as getting."--Benjamin Franklin

Saving is important. Investing may be more important, but earning is the foundation of both. You understand that you need to save and invest, but to really achieve extravagant goals with them, you need to earn more. The rich understand this and work on creating more avenues to earn and earning more with the avenues they have. If you really want to become rich, work on your earning ability, not your saving ability.