How the poor and the rich spend their money

This is how the poor and the rich spend their money on. You see the poor spend money on luxury things like expensive brand of clothes, shoes, bags and jewellery.

The rich don’t spend the money on luxury things, they use their money to invest and for their business.

Poor people spend money on unnecessary things, they mostly buy a lot of luxury things like expensive brand of clothes.

Rich people don’t buy an expensive brand of clothes, they wear clothes that are comfortable for them.

They don’t buy new things, they keep all their old things with them and they save money for their businesses.

Rich people don’t need all those things to make themselves look important for having those shiny objects to make them look rich. They wear clothes that are cheap and comfortable, they keep their old phones and they don’t buy a brand new phone.

Poor people always go for new fashion like clothes, bags, jewellery and new phones.

The rich keep the old fashion things with them because the new fashion things are not important for them, what’s important for them is their businesses to be successful.

The poor always buy a new phone and the rich keep the old phone.

Poor people buy an expensive brand of clothes, expensive watches, shoes and phones to make themselves look rich and their actually broke. They just make themselves look like a fool for spending all the money on unnecessary things that they don’t really need, they can save the money for investment and for the future.

Poor people go out every weekend to party and get drunk. Rich people spend time on their business and continue learning.

While the poor are out in the weekend partying hard in the club, spending all their money on drinks and end up broke.

Spend money in the right way  

You should spend money in the right way like the things you need for yourself like groceries, food, drinks, your car service, petrol and house bills.

The money you don’t need to spend is:

  1. Expensive clothes
  2. Expensive watch
  3. Expensive bag
  4. Expensive wallet
  5. Expensive jewellery
  6. Brand new phone

These are the things you don’t need to spend because they are unnecessary.

You should be grateful for what you got instead of being spoiled with shiny objects to make you look good.

What makes you good is having a good heart, be willing to help other people who are in needs, give the money to the charity and help others. Those shiny objects that I mentioned there, they are not important to you because they won’t make you a better person.

What makes you a better person is:

  1. Kind
  2. Thoughtful
  3. Good heart
  4. Caring
  5. Nice person
  6. Helpful
  7. Help others
  8. Grateful
  9. Thankful
  10. Be happy with what you got

You should always be happy with what you got, not chasing the new fashion, you should keep the old fashion and be grateful with what you got right now.

Because there are a lot of people who don’t have any of the stuff that they need, they can’t afford the things you got right now and you should be grateful with what you got. You shouldn’t be chasing luxury things like an expensive brand of clothes, expensive watches and bags. They are not important to you, they are just an object that will be old fashioned for a couple of years time.

When new fashion comes, you buy the next new fashionable clothes that you don’t need. You shouldn’t be chasing new things because new things will get old in a couple of years time. You should focus on helping others who are in need that they can’t afford the clothes that you got now.

Think about it, we are so lucky to have the clothes we wear, the shoes we wear, the food we eat and the roof cover over our heads. We are lucky and grateful to have all the things that we have got.

It’s nice to be successful and to be able to afford a nice car and a house. These aren’t actually goals, they are dreams. They are things you think about for fun to have a beautiful lifestyle. The poor will dream about having those things if they got the money. Having shiny objects doesn’t make you a rich person. There are rich people that are living in a normal lifestyle, driving a normal car and living in a normal house. They don’t need to buy these things to make them look good.

The rich can afford a nice car and a house, but they don’t need it because they can use their money for charity.

The poor will keep dreaming about having a nice car and a house, but they still can’t afford it because they spend all their money on unnecessary things.

The poor and the rich are separate 

You see the difference between the poor and the rich is how they acted. The poor wear clothes that make them look rich, the rich wear clothes that make them look casual. The poor spend money on liabilities like a nice car that they can only just afford it, the rich invest in books and education. Poor people party every weekend and rich people work hard every weekend. Poor people got poor friends and rich people got rich friends.

That’s an example of the poor and the rich are separate.

Poor people and rich people think differently, that’s why they are separate because they both do things that are different.

If you want to achieve your goals to get rich, you should change your mindset and do something different. Spend less money on luxury things, less partying and save money for your education.

Poor people will fall into this if they find a way to get rich. They will think to start an online business is a get rich fast scheme. It requires hard work and effort.
Poor people will buy the lottery ticket to wish themselves luck to win the lottery. When they won the lottery, they can quit their job, go on vacation, buy luxury things and spend all the money.
Poor people love to gamble because the money they spend is on betting money. They go to a gambling place like a casino to bet money to win. You get more chance to lose than win when you gamble.

When you lost your money on gambling, you can’t have it back.

That’s why you get more chance of losing money when you gamble because you’re taking a risk.

Gambling is risk-taking because you can lose all your money. Gambling is addictive and it’s not a good habit to have when you get into the habit of gambling.

I won’t recommend you to do gambling if you want to achieve your goals.

It’s up to you to gamble or not. I’m not stopping you to gamble. I just don’t recommend you to gamble because you get more chance to lose money than win money.

Rich people don’t gamble, they take actions and work hard.

I hope you enjoy my blog. Feel free to share it on social media.

16 thoughts on “How the poor and the rich spend their money”

  1. Great topic to talk about. I try to be very careful on what I spend my money on. I do splurge every once awhile. But I do plan when I splurge on things that I want. I am not frivolous with my money, at least not anymore. With age comes wisdom. I do invest actively but of course I took a big hit in the recent weeks. But I will stay the course. Thanks for sharing this article.

    Courtney-

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  2. Wow…Gordon! What a sincere and passionate advice to those who spend all their money on luxuries even when they do not have the money yet. Some people even borrow to spend on luxuries which will not yield profit or dividend. The rich try to build their business first and allow their business to finance their lifestyle while the poor finance their lifestyle first without a business. Robert Kiyosaki said that the rich spend on Asset while the poor spend on liability. I love the simple way you have illustrated the message and it is very clear and easy to understand by everyone. Good Job!! 

    I can see that you have so many beautiful and important posts on your website that will benefit everyone. I will be visiting the website more in the future. Cheers.

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  3. Hello Gordon,

    This is the second article I have come across on the internet when you are the author but both of them are full of facts and reality. Thank you for providing this information and we shall keep coming back to read your ideas and the sets of research.

    What makes most people stay in their poverty because they try to spend more than the income, then the unbalance occurs and nothing will move forward in terms of development.

    Actually many people look very smart and clean without a need of buying branded clothes, shoes and others.

    Very informative and clear article.

    Thank you!

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  4. Like what most people do not know or do not pay more attention to. Spending habits tell a lot on what we do and our f8nancial stands. While the poor buy liabilities and heavy and expensive wears and all, the rich only invest their money and understand that material wealth is an illusion. Rather! They’d invest their money into other things that matters

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  5. Excellent article, thanks for sharing this message for more people to learn. I’m currently reading Rich Dad Poor Dad by Robert Kiyosaki, and although he doesn’t necessarily believe in “living below your means” as many suggest to do, there is a very important similarity between his wise words and yours: Investing in assets, yourself, and your education! That is very important, and I believe is a big difference in how the poor and the rich spend their money. The focus should always be on cash flow, especially in the long-term, by building assets, not wasting money, and not building your liabilities!

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  6. Hi There,

    I’m thinking this is like social differences of what we never had and if we could get it to today how we would feel? It’s just a great idea for a website. I love the way over the last few weeks there are less homeless on the streets in my local town and more guidance.  People are rich or not either of us could fall. Great website.

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  7. Some other interesting facts could be that rich people use to talk about projects and ideas (at least those that have made themselves rich by their own effort rather than political contacts or fraudulent activities). Poor people, pretending to be richer than what they really are, always talk about the way of expending the money they don’t really have and expensive things.

    How real it’s the saying of “Fake it till’you make it”; I don’t really know, but in my understanding running west is not the best way to get to a place located at east in regards to your current position. There’ll always be some money to be put out of pocket (as far as you can see how and when is that money coming back, there shouldn’t be any problem).

    Thanks for sharing a great reflection!

    Reply
  8. Hi Gordon. This has been a good article and I agree with you. Poor people are constantly trying to demonstrate others they’ve got something while rich have nothing to prove others and they on the contrary want to go by unnoticed.

    How we spend or money tell much more about us than we can think. Food for thoughts here. Thanks for this post.

    Reply

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