Do you know the difference between being rich and being wealth?
For so long, people always confuse the meaning of these two terms or instead substitute one for the other. The truth is, there is a lot of difference between being wealthy and being rich.
According to Robert Kiyosaki, "there is a difference between the two because, the rich have lots of money but the wealthy don't worry about money"
Being rich simply means you probably have the finest and expensive things of life, material things such as cars, houses, bulk sum of money in your bank account, etc. This is majorly what being rich implies, you generally possess expensive and abundant material belongings.
Meanwhile being there's more to being wealthy, being wealthy ultimately has to do with financial freedom. It means you're not living on paycheck to paycheck. It means you've either saved enough that you don't need to work everyday to sustain your lifestyle and you've built up enough passive income sources that you're getting paid even in your sleep.
Also and importantly, a wealthy person knows how to create money for him/herself, he/she most likey doesn't rely on his/her Bank account. A wealthy knows the value of time and the fact that time is money and he/she uses it to his/her advantage. A wealthy person knows the principles of money and works with it.
The rich have money but the wealthy have time.
Attributes of the WEALTHY and RICH
Below are some of the characteristics or attributes that wealthy people exhibit in contrast to the rich
1. The wealthy make decision with long term in mind, they make long term goals. While the rich are only concerned with making money for just the present, they mostly don't think of the future, they concentrate more on short term goals.
2. The wealthy invest more while the rich save more
The wealthy are ardent on increasing their financial capacity and knowledge, they read more books and participate in any activity that has to do with Personal Development while the rich are only interested in working and putting in more effort to their business or jobs to make money rather than investing in themselves first.
3. The wealthy not just makes money but impact in the lives of people while the rich only makes money.
The wealthy have self-control, they know they can't always have all they want while the rich always seek to have the latest gadgets, materials or anything at all they want.
How can you become WEALTHY?
There are several principles to becoming wealthy, I'll share some of them. Please note that this isn't a get-rich-overnight scheme. You need determination, hardwork and consistency.
1. Seek to develop and invest in yourself; the greatest investment you can make is in yourself. When you have developed yourself, you can think of ways to make, keep and multiply money.
2. Be intentional about growing and becoming wealthy
3. Expand your mental limitations; believe in yourself, believe you can and you will
4. Acquire more assets than liabilities.
5. Continually think of ways to double your financial capacity every year
6. Don't give up! even when faced with obstacle.
Here in Myllash, we're about your personal and career development for your eventual financial development.
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© Precious Greg
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