Everyone who isn’t rich thinks that being rich is probably the best way to live, and let’s be honest – nothing you’re going to read in this article is going to change your mind there.
Having money is better than not having money, and I don’t think most people would argue that point.
How does the other half really live, though? Read on to find out!
13. They’ve got guts.
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Especially when it comes to work.
A tip from Alan Corey, author of A Million Bucks by 30?, always negotiate for a nine-month review instead of an annual review – that gives you a three-month head start on a potential salary raise or bonus.
12. They’re actually pretty cheap.
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They clip coupons.
Even Hilary Swank does! She said so during a Kelly Ripa interview.
11. They’re not all geniuses.
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Peter Shankman, entrepreneur and investor, says “It’s amazing how much smarter everyone thinks you are once you have money. Two days after I sold my company, I got asked to speak at a conference I had been trying desperately to speak at for six years.”
10. They don’t like to spend money.
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A successful Boston plastic surgeon looks at it like this: “If I save $2,000 by not flying first class, that’s the same as someone paying me $2,000. Wouldn’t you sit in an uncomfortable chair for three hours for $2,000?”
Well, when you put it that way…
9. They keep their ears open.
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If they hear people talking about investment opportunities, their ears perk up.
One Fidelity Magellan fund manager said he invested in Hanes after his wife was talking excitedly about the panty hose she’d been able to buy at the grocery store.
8. They prefer not to use credit.
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Or at least, some of them do.
Alan Corey says he always withdraws cash.
“That way, I’m forced to stay on a budget without counting pennies and saving receipts. I can spend only what is in my wallet.
I turn it into a game where each week, I reduce my ATM withdraw amount by $20 to determine how low I can really go.”
7. They don’t take no for an answer.
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They escalate issues up the chain until they get the answers they want.
The result? They usually save some serious cash in the process.
6. They’re not extravagant.
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University of Georgia Survey Research Institute data suggests that millionaires pay around $16 – including a tip – for a haircut.
5. They’re not risk-averse.
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Peter Shankman worked at AOL in the 1990s and was let go during a layoff.
He took his rent money, made 500 t-shirts making fun of the movie Titanic, and sold 500 of them for $5,000.
Then, he told the story to USA Today and sold 10,000 t-shirts in two months, making $100k in the process.
Rich people know how to make something out of nothing.
4. They are waste-averse.
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Waste not, want not is a saying for a reason.
If you might need it later, don’t throw it out.
But, you know. Don’t become a hoarder.
3. Giving gifts is impossible.
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A retired California tech executive says “if it’s modest, people think, all she bought me was a vase?
But when you give something over the top (I bought someone a house once), people say ‘she’s showing off.'”
2. They go with their gut.
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For example, a prestigious Washington DC lawyer tells the story of how he bought Talbots stock on a whim when a deal for a sale fell through.
The value increased 50% in 24 hours and he sold it again the next day.
1. They do pay taxes.
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Some of them even do their own taxes.
So they say.
Well, this is all very interesting, don’t you think?
Which one of these really got your brain juices flowing? Share in the comments!
