What wealthy people do that poor people don’t

At Super-Advice we are about all things financial, but more importantly, helping people understand so they can get ahead financially.

What are five things that wealthy people do that poorer people do not?

Now, this is very interesting and it’s good to know because if you’d like to be a wealthier person, take note.

Investing

Wealthy people tend to invest their money in shares, real estate and other ventures that have the potential to generate passive income and long-term growth. Poorer individuals may not have the knowledge or resources to make these types of investments.

I actually heard once that different types of people view money differently.

Poor people view money as something to pay bills. Middle-class people view money as something to get a good credit rating with, to borrow more money. Wealthy people view money as something to make more money with.

To do that, you have to have the money to make more money with, which means having money left over and not going down to zero every payday living from week to week.

And then you could perhaps start with some investing if that’s something that you’d like to do. If you wanna be on the wealthier side.

Wealthy people live within their means

Wealthy people often prioritise financial discipline and habits to avoid overspending on unnecessary items. Poor people may struggle to make ends meet and may have to rely on credit cards and loans and more debt, and then the spiral to doom from debt!

So stay away from debt

Networking

Wealthy people often prioritise networking and building relationships with others to help them advance their careers or to invest in different ventures or to share ideas, where it seems poorer individuals may have less access to these types of connections.

They say you will live the same way as your closest friends.

We’re not advocating dumping your friends and getting some new ones, but as you make new connections with people, and relationships with people that perhaps know more, they’ll share their information with you and their tips with you, and you should rise with the tide.

Continuous learning

This is a really important one and it’s called continuous learning.

Wealthy people will often prioritize education and continuous learning, whether it’s through formal education, or through personal development activities. The best way to learn something is to learn something that you’re interested in.

Just get on YouTube and learn about what you’re interested in.

Research shows that poorer individuals may have limited access to educational resources and may not have the time or the resources to invest in their own education.

Well, I say bullshit, get onto YouTube and learn, learn, learn, learn, learn. I also belong to an app called Audible, where it reads books to me. So if I’m commuting in the car, I get something that I’m interested in learning about, I buy the book for $16 – It might be 10 hours long and it just reads to me as I drive. Learn learn learn!

Taking calculated risks

Research shows that wealthy people will often take calculated risks with their own investments, in their own ventures, in their own ideas.

They’ll have a crack, weighing up potential rewards against potential risks, and then having a good look at it and thinking, you know what? I think I can pull this off!! and they’ll have a crack! Research shows that poorer individuals may be more risk-averse due to limited resources.

It’s hard to risk something if you’ve only got a little bit of it and that can create the fear of financial instability.

So there are five tips on what wealthy people do to get and stay wealthy versus poorer people who don’t grow their wealth.