| Some people think that to become wealthy, | | | | on 'liability', it won't take long until they |
| they need to live in a certain lifestyle and | | | | wind up highly stressed out in a financial |
| buy certain things that the real wealthy | | | | turmoil. In the end, the middle class find |
| people have. By doing so many of them would | | | | themselves enslaved by their jobs because of |
| finally end up in a financial turmoil and are | | | | the liabilities. It means they have no choice |
| far from being what they had always dreamed | | | | than to go to work and make more money every |
| of: real wealthy or simply financially free. | | | | month to be able to pay off their |
| | | | liabilities. |
| The truth is, different people with different | | | | |
| financial conditions buy different things on | | | | The problem with both the poor and the middle |
| payday not because of how much money they | | | | class is, generally their income is dependant |
| have but because of their particular mindset | | | | on their own effort/ time. The case with the |
| that drove them to buy those things in the | | | | poor is, that they exchange their time with |
| first place. | | | | their employers money -- while there is only |
| | | | so much you can do in 24 hours with your own |
| When the poor go shopping... | | | | effort. On the other hand, the middle class |
| | | | exchange their high education and expertise |
| Poor people would go and buy the things we | | | | with someone else's money. As soon as they |
| would simply call 'little stuff'. They buy | | | | stop 'exchanging' time and education, the |
| things that are inexpensive (and sometimes | | | | money stops coming. |
| useless) simply because they are | | | | |
| inexpensive.The 'little stuff' won't cost | | | | When the real wealthy go shopping... |
| them much but it won't worth anything to them | | | | |
| over the years -- and because the money was | | | | Real wealthy people would go out and buy |
| all spent on 'little stuff', this will be the | | | | things that we would call 'asset'. Assets are |
| only thing they will have. | | | | things that pay you money. The example would |
| | | | be investments, stocks, bonds, real |
| Some people who are even less fortunate like | | | | estate,... Another example of asset is |
| many in my own country, Indonesia, won't even | | | | education. If you buy education and apply it |
| have 'stuff'. When they go shopping on payday | | | | to produce income, your education is an |
| they buy food and maybe some clothes -- just | | | | 'asset'. |
| basic things they need to survive for one | | | | |
| month. | | | | Real wealthy people would always put aside a |
| | | | certain portion of their income to buy assets |
| The poor won't have enough money to save, let | | | | like those. The wealthy simply spend their |
| alone invest. So what comes in on payday, | | | | money on things that can produce more money. |
| goes out on 'little stuff' or food to | | | | |
| survive. They simply just don't educate | | | | If you want to become wealthy you have to |
| themselves that their income could have been | | | | find assets that would earn you income and |
| used to create more income -- and this has | | | | with the income, buy more assets to earn you |
| caused a lot of financial pain. Yet, it does | | | | more income and so on. One example of |
| not need to be this way. | | | | affordable asset you could buy is a business. |
| | | | Any business that creates for you passive |
| When the middle class go shopping... | | | | ongoing income is your asset. |
| | | | |
| These are successful people with well-paying | | | | Passive income is income that requires little |
| jobs and great carreer. Because of this, | | | | work or no work at all. This type of income |
| society mistakenly considers them as 'the | | | | is the income that you earned from work you |
| rich'. The middle class would buy things that | | | | did just once. |
| we would call 'liabilities'. Liabilities are | | | | |
| things that cost you money. A car would be a | | | | There are numerous of passive income creation |
| liability -- you would spend money on | | | | opportunities. One asset that I have found |
| gasoline, insurance and not to mention the | | | | (and is affordable for me) is investing in my |
| thousands of dollars of monthly payment for | | | | own small business, Success University. I |
| the new car. A house should also be | | | | find this an invaluable asset because I have |
| considered as a liability -- although some | | | | free access to the most powerful success |
| people would call it 'asset', we can't escape | | | | oriented personal development education, |
| the fact that buying and owning a house would | | | | presented by over 50 of the world's greatest |
| actually cost you -- which makes this more a | | | | minds in personal achievement. The education |
| 'liability' instead of an 'asset'. But when | | | | that I get is applied in my day job, causing |
| you buy a house and rent it out and it pays | | | | me to earn even more income than before. And |
| you money regularly, then the house is called | | | | the business opportunity of Success |
| an 'asset'. | | | | Universityis just an outstanding asset that |
| | | | allows you to earn money even during your 14 |
| Typically, the middle class split their big | | | | day free trial. |
| fat check into two and one portion of it goes | | | | |
| out to pay for the downpayment of a new car | | | | This article has been written in the hopes |
| (or a new house) or anything that are | | | | that it will be an eye-opening piece of |
| actually 'liabilities'. By the next month, | | | | information on managing you personal finances |
| they will have created another thousands of | | | | better. |
| dollars of monthly expenses for paying the | | | | |
| installments. After this, they would want a | | | | Resource Box: |
| new Rolex watch, or another car, or a boat, | | | | |
| or an expensive vacation. | | | | Dinar P. Wiria-Atmadja earns money as a |
| | | | student of Success University. She is also |
| The middle class may make big fat paychecks | | | | the owner of Proven Map to Success & |
| because of their successful carreer. But if | | | | Financial Freedom. |
| the money that comes in are constantly spent | | | | |