1, Eating Out
When poor people get paid, the first thing they do with their money is eaten. They get a drink somewhere nice. When they go out for a nice meal, they spend at least a quarter of their paycheck on that one meal.
I’ll give you a quick scenario most people get paid by 5 p.m. on Friday. They leave work at six o’clock. By the time they order food and drinks for all of their friends, it’s already seven o’clock and they’ve already left their other house. they realize that they spent at least 25% of their paycheck on that one night.
Now, the problem is that you’re spending a fraction of your paycheck on food that only lasts a few hours. But now you have to wait a week or even two before you get paid. if that happens again, it could be a disaster, especially if you don’t have much money to start with.
Gambling is the second thing that poor people spend their money on. Now, you might be thinking, “That’s not me,” but if you go to a casino and look around, you’ll see that hundreds of people spend thousands of dollars every month to gamble. You know what I’m talking about, but it doesn’t just happen in casinos.
It can also happen when you play the lottery. It happens in sports. It happens in games. Whether it’s a one-on-one game or a team game, people bet when they play. Their money is away because that’s all they know how to do now. People gamble for many different reasons, and most of the time, they don’t really know where their money is going.
But the main reason is that it’s exciting and exciting things happen. When people see that putting $100 on a roulette table could get them $200 back, they feel like they have a better chance of winning than losing, so they’re willing to gamble with that money. How do you stop yourself from gambling? Get away from places and people that make you want to gamble.
So, if you’re driving down the road and see a convenience store, don’t go in because you know you’ll buy ten lottery tickets or furan. says that if a friend calls you and asks if you’re ready to bet, you shouldn’t. don’t go over there. Don’t have that conversation with yourself. Instead, talk to yourself and make sure you know that gambling isn’t the best way to make money.
3, Get-rich-quick schemes
Get-rich-quick schemes are the third thing that poor people do with their money. Now, what I’m saying is that most poor people think they can get rich quickly because most of the people they know aren’t rich. They think that if they put $1,000 into network marketing or a business they think will make money, they will automatically make a million dollars, but that’s not how it works, my friends.
Now, the people who sell these “get-rich-quick” schemes know that there are a lot of people who are desperate to make their money go further. They know that people will spend a thousand dollars hoping to get a million dollars back. So, be aware of these ways to get rich quickly and ask yourself, “Do I really want to do this?” Do I really believe this? Is this going to make me a better person and help other people along the way?
I’ll give you a clear example. I was young and naive when I graduated from high school, and I wanted to make a lot of money. I joined a network marketing company, which taught me a lot but cost me tens of thousands of dollars in the end.
I finally saw that it was a trap. Their conferences cost me money. Their meetings cost me money. I had to pay for their supplies and push my way through to get to where people were. I wasn’t sure if I wanted to meet someone to sell a product I didn’t really believe in. I’m not trying to scare you; all I’m saying is that you should be aware of the kinds of business opportunities you’re taking. As I said, a lot of people think they can just put money in and get money back, but it takes money to make money. But make sure you make something of value, know how you’re going to make money, and start seeing results at least a year after you do it.
Vacation is the fourth thing poor people do with their money. Now, I know this is a big deal because a lot of people think they need a vacation, and they do. The tragedy starts, though, when they don’t have enough money or spend all their money on vacations. For example, I know a lot of people who like to go on cruises. These people look for deals and place bids so they can go on this vacation. So they can get away from their jobs and do what brings them the most happiness.
Now, guys, when you go on this kind of vacation, make sure you don’t get sold even more. I know that a lot of vacation spots do this, so be careful because you might think you’re getting a good deal. But you end up getting oversold and spending twice or even three times as much on that trip as you did at first.
5, Poor people do with their money is brag
The fifth thing poor people do with their money is brag, which is one of the worst things they can do. I mean, if you’re not humble about the little money you make, what makes you think you’ll be humble about anything else?
Unless you are honest in small things, the big money you make, you won’t be honest and big ones, so take care of the small financial responsibilities you have now. So you can learn to take better care of your money. So you can get what you want in the future.
It’s a very stupid idea to spend all your money making it look like you’re rich instead of becoming rich. It never makes sense to spend a lot of money to make a pair of people look rich instead of becoming rich yourself.
After all, if you really think about it, does it make more sense to have $10,000 in your bank account or to spend an extra $10,000 on a car to impress your neighbors who make about the same amount of money as you do?
6, People who are poor spend their money on things they don’t need.
This brings us to number six since the sixth thing poor people do with their money is spent it on things they don’t need. In other words, they are buying clothes from high-end brands. They buy cars, rims, and shoes with the money. People often go out of their way to make payments on their bills. For example, the last time I bought a couch, the salesperson told a woman that she could pay for it over up to 72 months.
It would take 72 months to pay for a sofa. That’s not right!
Look, my friends, if you can’t afford something, don’t pay for it in installments. Remember that poor person like getting paid, but rich people like making money. Find a way to make money and pay yourself first before spending money on something you don’t need.
Don’t forget that there’s always a cheaper way to get what you want. Let’s say you wanted to buy a fish tank and went to the store. There, you saw a 30-gallon fish tank with all the accessories for $500. But if you went online to eBay or Craigslist and looked around, you might have found the same thing for $100. You have just saved $400. To buy something nice that you can now enjoy.
Entertainment is the seventh thing that poor people spend their money on. People will spend tens of millions of dollars on fun things. So that they can have a good laugh. They can feel some excitement. So they can add some excitement to their lives. Look, I’m not against entertainment, but if you only make $30,000 a year, it’s not worth it to pay $3,000 to watch the championship game live. You can see it for free on TV.
I’ve told you seven things that poor people do with their money, my friends. Now you might be wondering, “What do rich people do with their money that could change your life?” Rich people put their money into themselves first, then into their own businesses or other businesses that help them make more money. They only invest in assets and never in liabilities that tie them down and keep them from becoming financially independent.