5 things you should not do with your money to get rich

[Marykeller]

5 things you should not do with your money to get rich or advance your lives

You would have made it sound this way
5 attitudes you should not display when you have money in advancing your lives

1. Don't spend without a plan

Many people are guilty of these 5 attitudes you mentioned above. When they don't have money, they will try to be economical in whatever they are doing. They spend less but the moment they have money on their hands they spend without a list of plans.

3. Don't always buy something that loses value

Money has pushed many to buy irrelevant things to prove to their friends they can buy expensive things and live largely.

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[bakasabo]

My advice to shorten the way to becoming rich is not letting money rest. Let money work all the time. Avoid situations when you economize or save money and do nothing with them. Inflation is your main enemy. Choosing cheap instead of quality is also a big no. Quality item or service will last longer give better experience.

But you should always understand, that even following each and every advice from this forum or from anywhere else, wont guaranty that you will get rich. Sometimes doing exactly opposite by that 5 things from first post will make a person rich.

[salad daging]

Don't waste money on useless things

Now making money is a little more difficult so if we get money we should be able to do it usefully for more important purposes than useless things, maybe we should save a little and don't spend too much money because it's not useful, I think we every month I have limited expenses such as paying rent, electricity, internet, water, other necessities. These are of course important needs that must be there every month, so I always record expenses for anything, including monthly expenses.

But if money is used to treat friends, party, watch movies, travel for entertainment, I always think about it first, where there is something more important, then money must be used for it.
At least by saving we can save more money for other needs.

Don't invest suddenly

Investing is not seen from a profit alone but seen from how ready we are to do it and mentally later, long-term investment can be from gold, stocks, property, bitcoin and other types we must understand first, if investing follows others without there is experience from us then it will fail because we can't control it, because for me something related to investment then we must understand first, don't be careless just for fun, for example, I myself know more about investing in bitcoin than others, so I now more focus on this investment and run it all the time.

[Russlenat]

The OP makes some important points but I think what he doesn't realize is that being rich and saving money are not actually the same thing.
To be anyone can be rich he/she has to know his/her capacity, potential, and natural gift, find a problem in the space he/she specialized in, and fix the problem while he/she makes money through it.
These are the things all the Billionaires we see today did.
To prevent money wasting and increase saving ones need to be disciplined, skip some luxury life, and limit or quit ^{(alcohol, smoking, gambling, and drugs)} which are the most money waster in history.

I would also like to add that attitude is very important too if you aim to get rich in crypto investments or whatever investment you want to engage in. Aside from having discipline, an investor should also focus on having positive mindset and being an open minded person because that will help him overcome all the trials when investing. If he has a great attitude towards investing, he will most likely to succeed in the future.

[Techkoy407]

the point is to know the most basic needs to ordinary needs, because many people spend money just for something they don't need themselves.
Adopt a simple and reasonable lifestyle.No need to follow the social media virus that often poisons our lifestyle. Better you live a simple lifestyle, but have a lot of assets, than most styles but continue to drain your wallet.

[kro55]

My advice to shorten the way to becoming rich is not letting money rest. Let money work all the time. Avoid situations when you economize or save money and do nothing with them. Inflation is your main enemy. Choosing cheap instead of quality is also a big no. Quality item or service will last longer give better experience.

But you should always understand, that even following each and every advice from this forum or from anywhere else, wont guaranty that you will get rich. Sometimes doing exactly opposite by that 5 things from first post will make a person rich.

OP's 5 tips as far as I understand he is simply talking about saving and I agree with you that saving does not bring wealth to anyone. If we want to be rich, we have to work non-stop, work while others are sleeping, have to get up every time we fail...and the important thing as you mentioned: use money to make money, don't let it enrich the bank.
OP's 5 tips are also quite useful, whether rich or not, don't waste too much, save or use the money to do useful things for society.

[BigBos]

My advice to shorten the way to becoming rich is not letting money rest. Let money work all the time. Avoid situations when you economize or save money and do nothing with them. Inflation is your main enemy. Choosing cheap instead of quality is also a big no. Quality item or service will last longer give better experience.

Many people say that if you want to be rich, don't just save in the bank but have to work for us all the time, but they don't explain how and what are the steps so that the circulation of money becomes like a waterwheel that keeps turning? and what business to run. and most of them answer stock or crypto investment! is there no other way to get passive income other than investing in stocks or crypto? If there is, I hope you share. anyway, I can't run the 5 suggestions in the OP's thread he suggested on the start page if I don't have any money or income

[gantez]

5. Don't invest suddenly

     - In my experience, I have also participated in this type of investment without thinking immediately or doing research because I was just
     carried away by the hype. It's just like the "Get rich quick" where your 1k$ will turn into 10k$ after 3 days, things like that. Just like before
     the rise of cryptocurrency projects, there were a lot of them but in the end, they turned out to be scams, but I don't blame them all
     because there are legit crypto projects and there are others that are just scams or shitcoins, this is just an example.

     But I'm not saying that you shouldn't invest in crypto, I think we shouldn't make a hasty decision so that our capital doesn't go to waste.

This is important information that can make someone lose money. Many people invest without research when they see friends going for it. This kind of investment is a trap. Like during ICO, many of the project was scam but people invested because of the promise of financial benefit and they didn't take time to study the market at the time. Doing proper research on project is advised and investing what you can lose is advisable.

[Oasisman]

My advice to shorten the way to becoming rich is not letting money rest. Let money work all the time. Avoid situations when you economize or save money and do nothing with them. Inflation is your main enemy. Choosing cheap instead of quality is also a big no. Quality item or service will last longer give better experience.

Many people say that if you want to be rich, don't just save in the bank but have to work for us all the time, but they don't explain how and what are the steps so that the circulation of money becomes like a waterwheel that keeps turning? and what business to run. and most of them answer stock or crypto investment! is there no other way to get passive income other than investing in stocks or crypto? If there is, I hope you share. anyway, I can't run the 5 suggestions in the OP's thread he suggested on the start page if I don't have any money or income

There's no need in explaining on how to make your money work for you, because everything is available in the internet. If you want it to be more detailed, then you should attend to seminars in stuff like these.
And also, stock and crypto aren't the only asset that could make your money work for you or in short "passive income". Have you ever heard of real estate? That will give you unlimited income once you fully developed your properties.
Buy a land, put up a commercial building and voila! But then of course, you'll need a thorough planning before you achieve the kind of success.
For the meantime, if you still don't have a capital to make your first step, then you should put your money in Bitcoin and let it sit and grow for a few years.

[Cookdata]

If someone needs to read that list to get their financial advice, they were never going to get rich in the first place. It might help stop them from becoming poor lol but that's about it.

There was never a specific path to success, and the OP never guaranteed his suggestion was flawless, but I believe the highlights are simply common sense that anybody would take, even so-called expert consultants. To achieve success, you must begin your journey and see what it takes to achieve a level, and what will guide you are yourself and your failures, though there are some people who are naturally lucky and may not see any failure throughout their journey to become rich, they exist and that's how life treats, now imagine wanting someone who was a favour and you want to be like them when you are not built that way, that is how life work.

[isaac_clarke22]

Number 1 could be simplified as just don't spend on something that you do not need at times that you are financially at risk.
It is perfectly fine to buy your wants, but bear in mind on if you would need that money to pay your bills or nah. People think that buying their satisfactions pays off their bills automatically.

Another one I would like to add up is don't loan if it is only for your wants. Better hold that money that you are planning to use for your PS5.

[EarnOnVictor]

What you have explained are clever plans that would help anyone to succeed when they have money. There are some monies that would come unannounced, particularly in betting or trading, one should not squander them, it is all about self-restraint and a good investment plan that would make such a person rich for life. Money is volatile, but when we invest, we would always be enjoying its dividend for life.

[Fara Chan]

What you have explained are clever plans that would help anyone to succeed when they have money. There are some monies that would come unannounced, particularly in betting or trading, one should not squander them, it is all about self-restraint and a good investment plan that would make such a person rich for life. Money is volatile, but when we invest, we would always be enjoying its dividend for life.

If the use of money is not used in the right place, then no matter how much money we have will be wasted. Smart steps are needed in the use of money, both investment and other uses.
Although there are so many forms of investment available, the question is where are we more comfortable?
For some people on the forum, the answer is definitely bitcoin, besides being able to maintain value, bitcoin can also maintain assets, but it needs control, strategy and a measurable timeframe, so that investments run as desired and get maximum results.

[bakasabo]

My advice to shorten the way to becoming rich is not letting money rest. Let money work all the time. Avoid situations when you economize or save money and do nothing with them. Inflation is your main enemy. Choosing cheap instead of quality is also a big no. Quality item or service will last longer give better experience.

But you should always understand, that even following each and every advice from this forum or from anywhere else, wont guaranty that you will get rich. Sometimes doing exactly opposite by that 5 things from first post will make a person rich.

OP's 5 tips as far as I understand he is simply talking about saving and I agree with you that saving does not bring wealth to anyone. If we want to be rich, we have to work non-stop, work while others are sleeping, have to get up every time we fail...and the important thing as you mentioned: use money to make money, don't let it enrich the bank.
OP's 5 tips are also quite useful, whether rich or not, don't waste too much, save or use the money to do useful things for society.

I might be wrong, but with such attitude we wont get rich, the only thing such people will get is the unstoppable feeling of being tired. People should work smart, not hard. As to savings - to me this is not a way to get rich, this is sort of a insurance for future. A pillow if you fall.

Many people say that if you want to be rich, don't just save in the bank but have to work for us all the time, but they don't explain how and what are the steps so that the circulation of money becomes like a waterwheel that keeps turning? and what business to run. and most of them answer stock or crypto investment! is there no other way to get passive income other than investing in stocks or crypto? If there is, I hope you share. anyway, I can't run the 5 suggestions in the OP's thread he suggested on the start page if I don't have any money or income

All I can say if turning rich would be easy and all we have to do is just to follow some steps, then everyone around would be rich and the value of money would drop heavily.

[Ani1985]

5 things you should not do with your money to get rich or advance your lives

1. Don't spend without a plan

      - Many people don't care or just don't care about spending. They don't care if they have extra money or if they have money left over until
      the end of the month. Then they will complain that they don't have any more money because they have no idea how and where they are
      spending it. And how many times have you gone shopping or grocery shopping without a list, which ended up costing you more because
      you didn't have a plan?
         Because if you want to save something or have some money, you should keep having plans when it comes to what you buy.

I once tried to do this, I wrote everything I bought daily, weekly to monthly, but the facts that occur are very difficult, especially for those who have families and children, it is almost impossible to be able to do this technique.

[suzanne5223]

The OP makes some important points but I think what he doesn't realize is that being rich and saving money are not actually the same thing.
To be anyone can be rich he/she has to know his/her capacity, potential, and natural gift, find a problem in the space he/she specialized in, and fix the problem while he/she makes money through it.
These are the things all the Billionaires we see today did.
To prevent money wasting and increase saving ones need to be disciplined, skip some luxury life, and limit or quit ^{(alcohol, smoking, gambling, and drugs)} which are the most money waster in history.

I would also like to add that attitude is very important too if you aim to get rich in crypto investments or whatever investment you want to engage in. Aside from having discipline, an investor should also focus on having positive mindset and being an open minded person because that will help him overcome all the trials when investing. If he has a great attitude towards investing, he will most likely to succeed in the future.

By having the attitude you stated that's very important I believe you're referring to being optimistic which is among the thing that makes people achieve their goals in life no matter the challenges they may experience.
I was that optimism in the life of Elon Musk he's always been seen as a stupid person whenever he presented new ideas and something happened when he acquire Twitter a lot of people said he waste money to acquire a company that didn't worth the prize.

[gantez]

5 things you should not do with your money to get rich or advance your lives

1. Don't spend without a plan

      - Many people don't care or just don't care about spending. They don't care if they have extra money or if they have money left over until
      the end of the month. Then they will complain that they don't have any more money because they have no idea how and where they are
      spending it. And how many times have you gone shopping or grocery shopping without a list, which ended up costing you more because
      you didn't have a plan?
         Because if you want to save something or have some money, you should keep having plans when it comes to what you buy.

I once tried to do this, I wrote everything I bought daily, weekly to monthly, but the facts that occur are very difficult, especially for those who have families and children, it is almost impossible to be able to do this technique.

Hahaha plans are good to help you as a guide really I think but it is just a guide nothing to say you will not over spend against your boundary or limit with the current inflation. Inflation is the current challenge that you see the world having. The value of money you have can't buy what you plan for. The cost you buy today change at the next store you visit.

[CryptoYar]

If you become rich by doing all this, then what is the use of such richness? I mean colorless life

what is the use of such richness? When you can't buy a new phone while all your friends have the latest model?

what is the use of such richness? When can not change your Old car  ?

If someone wants to be rich by living this kind of life then good luck to him from my side.

[dimonstration]

My list of things one should do to get rich

1. Don't borrow to spend, try to limit your spending within your earnings.

This is a wrong misconception on borrowing especially for business loan. I don't know how exactly ypu want to describe borrowing but it's really not a bad idea if the interest is not overkill because you can advance your money to spend it on business or investment opportunity while paying it slowly with just a minimal interest.

Borrowing is good too on buying necessities especially so that you can allocate some of your income on other things that can give you profit.

My comment is assuming that those borrowed money will be use on an investment since that's what I’m doing on my whole life. I use other money to fund my business and use the profit to pay it back slowly while giving me a savings from the profit. Even rich people borrow money to purchase something for investment purposes. Elon Musk is the best example here when he buys Twitter recently.

[BIT-BENDER]

My rule is not to tell people what to do with their money, this has helped me to avoid anyone from blaming me from any lose they got.

I believe as a human being if you have the idea to make money then you are wise enough to make a good decision. I have seen many people forcing people into crypto-currency with good hope and many a times this doesn't go the way they plan.

You can teach people things but don't make your sermon seem that you are trying to force them into what they can do with their money because when it get soar you take the blame.