Sat 24 Feb 2007
Want to get rich? Start by spending less…
Posted by Robin Bal under Financial Planning , Savings[7] Comments
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Here are three words you rarely hear: “Get rich slowly”.
The fact is that very, very few people get rich quickly. It simply doesn’t happen. If it did, we’d all be rich and the world would be a lovely place. It isn’t, sadly. I tell you this not to burst your bubble, but to help you understand the practical reality of how money works.
Lottery winners are among the few who get rich quickly, and statistics show that within 18 months, most of them get poor quickly. Never having had much money, people generally don’t know how to handle it when they win big, and they tend to spend their way to the poorhouse at great speed.
Enough bad news. It is possible to “get rich”, highly possible. The catch, if you choose to look at it that way, is that it takes both time and effort. You can get rich slowly, which doesn’t sound like fun, but is in fact enormously satisfying when you pull it off. All it takes is the application of common sense and an adult attitude. You are capable of both.
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