Introduction Of The Real Reason Most People Never Achieve Financial Wealth
The Real Reason Most People Never Achieve Financial Wealth. The truth is that you generate a lot of income when you start, let’s say in your career if you started as a student as unemployed and you don’t have a peso in your pocket. or they have nothing to do with eventually becoming rich as evidenced by countless stories of people.
Who Have Created Their Wealth Statistically
Who have created their wealth statistically it has been proven that one in ten people will earn money that 99% of the other people in your country in a year in a year one in ten people will live like 1% but one in ten people is 10% and clearly that 10% is not 1% what about 9% The remaining 9% spend their money, they make bad decisions about it.
They lose it in fraud and in general, they see themselves in different situations and circumstances that do not allow them to continue growing and progressing and multiplying that money only of those of that one in ten others out of every ten of that one in ten of one in ten or other words one in a hundred manages to reach a level of wealth.
That only 1% of people have consistently and constantly so probably You are wondering exactly why this happens and that is the real reason, because the true set of reasons why the vast majority of people never get to get wealth, the first thing we have to start with is inflation in the style of Life expenses will always grow along with income in other words if you were a student and you manage with some money.
Financial Products Such As Credit Cards
That your parents give you eventually you get to get a job and it turns out that when you get unemployment and money That employment generates for you is probably more than what your parents do but still you do not have all the remaining money available because now you start buying more things you pay for a cell phone plan that you may not have.
Before you start buying your clothes and adapt well let’s say that at a certain point that initial independence is difficult not to increase expenses to cover everything necessary especially When before now our parents who covered that with our grandparents at the time when I already started to get a better job I have a second degree I created my own business and in any case my income simply increases with that higher-income I begin to acquire different for example financial products such as credit cards to see the possibility of acquiring.
New products a new car a new house jewelry or any other amount of luxuries and others that may not be within my reach at that time but I how I see it from the point Given the monthly payments or that my salary is enough for me, I simply decide to buy them and what happens when later we talk about the case in which people are earning.
Financially And Work For Your Success
The amount of money greater than 99% of people can spend at some point of your life can surely happen to you and maybe if not more than 99 percent may be more than 60 70 80 percent is a considerable amount of money that at some point in your life will arrive if you continue to educate yourself financially and work for your success.
What will happen at that moment what should not happen is that your expenses rise from one moment to another to be able to adapt to So if you travel suddenly you need to travel first class if you stay in hotels suddenly you need 5-star hotels that if you eat in cheap restaurants suddenly you need to eat in luxurious restaurants each of these that.
I decide to increase as I go earning more is taking more and more money from me in this sense there is also the lack of financial education that our vocations imply that we lose money and lose opportunities just out of ignorance as in the cases of learning to use credit cards and maximize rewards that are obtained from them in my case simply by strategically using my credit cards dito.
Financial Acrobatics If It Were The Case That.
I have approximate free quotas in the year of about 2000 to 3000 dollars for trips simply by putting on the credit cards what I am going to spend anyway, for example, if you will use the debit card for it or when I use investment funds to give a little more profitability to the liquidity that I have left monthly or any financial decision or financial acrobatics if it were the case that.
I could make simply to better manage my finances, on the other hand, there is also the need that I deserve luxuries that I feel that I need to enjoy that money, maybe it is because enough to earn it, so I consider that when it is time to change that car that it is time to live in a bigger house sometimes if it is sometimes the car is simply making more a.
I spend that convenience simply because it is very good and every time something is damaged but sometimes the house in which e I live maybe it’s fine for another two, three or five years and in the meantime, I can continue saving and investing is another of the things that people who earn a lot of money but never reach true wealth do not invest their money do not.
Start Investigating Which One You Like Best
They multiply do not seek to maximize what they do not seek to acquire their own from the roots if it is the case to use investment funds or buy shares or even cryptocurrencies or evaluate any possibility whatever it is to start investigating which one you like best which one best suits your lifestyle which one It is more adjusted to your preferences from the needs.
That allows you to leverage on that money that you have earned and definitely, there are also those who simply in their entire lives have had the thought that a house is always an investment, it always does not matter anything, it is always an investment. but they do not think about what are all the hidden costs related to the purchase of the house in principle.
What is the deed ration the legal part of the investigation for example if the house is in good condition pay I do not know the appraisal by an expert the monthly interests of the installment once the credit is approved the insurance that I have to pay in principle for the secure credit of life that covers the bank in case I die when I still owe money for fire and earthquake insurance several things including occasional repairs if.
The Most Irrelevant Of All But The Cost Of Maintenance
There is any water leakage through the roof if there is any damage and if this is without counting For example, someone is driving drunk and crashes into my house and has no way to pay, then the truth is that many of these things are not considered when buying a new house, for example, or buying a car where I only have one the cost of gasoline, which is practical.
The most irrelevant of all but the cost of maintenance, change, I change the filter in exchange for tires and many many many many other things more than I think that version and it turns me into a fort and I have to consciously evaluate if it is worth it or not because I may be practically tied up and better than with monthly expenses year after year and I limited myself and that money I could be using in my business to invest, to grow, to leverage myself and to maximize my chances of achieving wealth.