What do you think of when you say you want to be rich? Do you think you're tired of people calling you Richard?
Don't worry, I know I'm not funny :)
When I talk to people who say they want to be rich they're often thinking of high salaries, anywhere from $60,000 - $1,000,000 depending on where they live and what living expenses are to them. But your income doesn't determine how rich you are, instead your spending determines how rich you are. Your goals play into it too.
I mean, just look at https://newrepublic.com/article/158555/whiners-earn-200000-complain-theyre-broke. Your salary could double or more without changing your economic posistion. (I mean, in the long run. Short term it would surely help). Making $50,000 a year is very different in New York, New York compared to a small town in the middle of Montana. And $50,000 a year is different to people with high credit card debt than to brigh-eyed bushy tailed kids out of college.
Let's use me for an example, I can't really afford to eat out more than once a month. And when I say eat out - I mean iHop, Applebees, that sort of cost. Upgrading my internet in this rural town? Fuggedaboutit. But my friends, who are younger than me and still working in the retail/food jobs can afford to go out far more often! (I'm pretty sure their internet is cheaper too, but they still live about 40 minutes away from me and they have infrastructure).
Why? Because of expenses. I spend 70% of my paycheck on retirment accounts and taxes, and while I could stop those contributions and start buying some (insert fancy restaurant here, all I could come up with was Red Lobster. . . ) one a week I'm not going to. Instead I'm going to live far, farr below my means and work less.
So, who's rich? Me, or my friends? The answer is actually both of us.
I may be broke but I've got assets building and I can pay all my bills. I'm making progress towards my goals, and I live comfortably because my idea of living comfortably is pretty darn cheap. When I went car shopping my standard was air conditioning (and that it runs of course). That has saved me a ton of money in actual car costs as well as insurance and interst.
My friends may not be investing as much, but they are enjoying life and they can pay their bills. One of them has bought a nice car because having a nice car is important to them, they have a studio apartment because privacy is important to them.
My point is, figure out what's important to you. And then figure out how much that's going to cost you. Who cares if you're making $50,000 or $200,000 if you can be happy on $15,000?
And that's that. That's the secret to being rich, live on less that you get.
I'm going to follow up on this to say that I'm trying to be concious of people who don't yet make enough. Not everyone is in a position where they can reduce their means. You may want to move two cities over because the housing costs are so much lower, but you need a deposit first.
I'm not trying to say everyone is rich. Just that being rich is closer than $100,000 a year.
And the whole money doesn't buy happiness? Bullshit, to a point. Money makes you happier for as far as it covers your expenses and lets you experience new things. I belive $70,000 is the median income before the increased happiness to increased money correllation tapers off. Having $70,000 a year should would make me happier, but that doesn't change the fact that I am rich because I spent my entire working career spending as little as possible to save as much as possible. And I got used to having < $12,000 a year so now $15,000 makes me feel great!
I FINALLY FOUND ONE OF THOSE CUTE LITTLE PLANTERS FROM THE DOLLAR TREE !! They have four different little animals ; the one pictured is Flora the Fox 🦊 . I have been looking for these things for MONTHS ! Finally found one and decided to stick a purple waffle plant in there . She’s like my own personal Pokémon 🥰
by Cameron Buettel | Contentment is always elusive when it’s based upon the pursuit of personal happiness. While the world encourages us to prioritize our own felt needs, realize our dreams...
