Many people think that the rich are just born that way and yes there are people out there that are born into riches. However this is actually not true, most millionaires in the US are not born into riches they actually earn it. So this is leads us to an interesting question how do rich people stay rich. Well this is generally tougher to answer then it would seem.
Rich people work hard for their money, other wise they wouldn’t get there. Mitt Romney, Warren Buffett and Donald Trump didn’t get their by lying in bed and clicking on the internet. They worked over time and expended much energy to get there. They also missed a lot of special days with their families to achieve it.
Their attitudes were such that they didn’t go out and buy the latest knick knack or expect to be treated like something special. This is a waste of money and will only land you deeper in debt. Unless something enhances your income don’t buy it. Especially when you are young, you really don’t need a lot to get buy. I phones, high end cars, the latest in computers and clothes are a great way to burn through cash. Personally, I threw away thousand by the fact that I smoked At 1 pack every 2 days for almost 10 years which cost about 3 dollars a pack you are looking at me wasting 5400 dollars. Could you imagine what else I could have done with that money?
The biggest reason I see how the rich stay rich is by not spending recklessly, working hard and buying quality products. If one buys a low end product it may cost less initially. However lets say you have to replace it every 2 years then it would be better to buy the thing that lasted 10 years but cost a little more. Hopefully this advice will help you become rich like Warren Buffett one day.