You guys agree with this statement??

[Tony71]

Someone posted this status on FB

Rich people stay rich by living like they're broke...Broke people stay broke by living like they're rich.

and he got 90 Likes they are all agreed to it, but I highly doubt that most of the people are even rich to even agree to this statement.

If rich people stay rich by living like they are broke then how do you explain the rich people driving ferarris, lambos and living in multmillion dollar homes? I do agree with the broke people stay broke by living rich though.

 

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[Tommy92l]

Oh man, I thought this was going to be "Money doesn't buy happiness". We'd all be running for the hills.

 

[MJ DeMarco]

Rich people stay rich by living like they're broke...Broke people stay broke by living like they're rich.

There is some truth to it.

Rich people stay rich by living within their budget and income.

If you make $10M a year but spend $20M a year, you won't be rich long.

Broke people stay broke because they have no budget. Their budget is their entire income + credit.

 

[TropicalGuy]

I agree with this.

Getting rich often means not being scared of being the outlier. Ian and I drove "entreneurmobiles"-- or really really cheap cars-- even when we started making money. We did this so we could hire staff and re-invest in our biz. Meanwhile our friends are doing weekends in Lake Tahoe and driving 20K Mazda's with leather interior.

Saving isn't a great strategy for building wealth, but not having a budget can sure as heck ruin your fastlane dreams. Anecdotally, I'd say the #1 reason people fail in entrepreneurship is they need to go make money to make ends meet and therefore can't spend enough time on their own projects. One way to protect yourself form this fate is to need very little money.

There is some truth to it.

Rich people stay rich by living within their budget and income.

If you make $10M a year but spend $20M a year, you won't be rich long.

Broke people stay broke because they have no budget. Their budget is their entire income + credit.

 

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