Things to avoid when you earn a lot or become rich

[Iranus]

Are you rich, OP? If you are not rich, what makes you think that you could give advice to rich people(or to poor people, who suddenly become rich)? Poor people giving advice to other poor people about becoming rich seems like a joke to me. How many rich people are using this forum? I really don't know the exact number, but I can assume that the truly rich people won't waste their time posting in a forum.
Rich people usually buy lots of real estate(expensive houses, etc.) which can be sold when they have financial difficulties.
I remember Nicolas Cage having problems paying his taxes in the USA, but Johnny Dep stepped in and paid Cage's taxes.
If you ever become rich, do whatever you can to find rich friends.

I was also planning to ask OP this, I really want to know if he is rich or not? Or has he ever lived the life of a rich person for even a day? Because a poor person, a person who has never known what it feels like to be rich but likes to teach rich people how to spend money is the most ridiculous thing I have ever seen. Not stopping there, many people even criticize the way rich people spend money, criticizing billionaires and calling them failures while they are unemployed and have low income...these things are strange to me  .

The forum has many strange topics, teaching others to get rich, teaching rich people how to spend money, teaching rich people to save...while we ourselves are still struggling to earn a few dollars a day to cover our lives.

[barisbilgili]

I was also planning to ask OP this, I really want to know if he is rich or not? Or has he ever lived the life of a rich person for even a day? Because a poor person, a person who has never known what it feels like to be rich but likes to teach rich people how to spend money is the most ridiculous thing I have ever seen. Not stopping there, many people even criticize the way rich people spend money, criticizing billionaires and calling them failures while they are unemployed and have low income...these things are strange to me  .

The forum has many strange topics, teaching others to get rich, teaching rich people how to spend money, teaching rich people to save...while we ourselves are still struggling to earn a few dollars a day to cover our lives.

That's true and I also feel this is very funny because basically we can only comment on things we haven't experienced, whereas if we have experienced them then these things will flow by themselves in their respective portions.
I think people who suggest a lot of things in that place then the person hasn't felt it.

Rich people advise poor people while they never feel it, as well as for some people who are not rich who try to give advice on saving and saving, this is very funny. 

We will experience or do wherever we are and I think everyone will be different with different conditions.

[Winterfrost]

You are in no way wrong from all you listed, becoming rich is everyone's dream and we all are working towards achieving such wealth, as we likely are aware of the benefits attached to being rich. It is very bad to be once known to be rich and then further in life due to lacking some personal qualities goes back  to being poor. Many people have been into same condition due to falling short for some of the points you listed especially that of not buying expensive things instead a person should be focused on growing more wealth rather than spending lavishly.

In this life everyone wants to live a luxurious life and have a fantastic income to be able to own luxury goods, but some people use the wrong way to meet their living needs and they only look rich but all the goods they own are already in debt, so when the point in the example it is always the opposite so that the flow of life is full of ups and downs and you never feel happiness even though you have lots of luxury items, so in this life we ​​have to know each other's levels so that we don't feel difficulties in living this life.

If we are to clear the air on this, owning luxury for some reasons are not bad, we consider them good choices as long as the person have a purpose. Most of those expensive stuffs can be later on sold to give profit but it is best to have or create a steady flow of income other than investing on those expensive stuffs. Life can really be messy at times, someone who is outstanding today might end up becoming the receiver so we have to show discipline in our wealth.

[Strongkored]

The most difficult thing is when you can earn more money but still live like when you were still earning little, that's why people who earn a lot will start to change their lives because they want more, especially if their life cycle also changes so that they are now friends with other people. -people with the same economic level end up spending the same as what they earn, sometimes even more, for example by going into debt because they think their income will be sufficient to pay their debts even though they are starting to have difficulty paying. If you earn more then start investing and investing is not to make you rich so you can go on a spree but to make your life calmer.

[boty]

If we are to clear the air on this, owning luxury for some reasons are not bad, we consider them good choices as long as the person have a purpose. Most of those expensive stuffs can be later on sold to give profit but it is best to have or create a steady flow of income other than investing on those expensive stuffs. Life can really be messy at times, someone who is outstanding today might end up becoming the receiver so we have to show discipline in our wealth.

It is true that there are some people who choose to have luxury because they want to get work from other people and the luxury items they usually use can provide benefits for them and most of them often change the items they use depending on their needs to get the job they need. they want.
Creating a source of income is of course very important and this will help us to get income that we can save to invest in our future. Someone who has financial discipline will of course be able to use the income they have on things that are useful for life.

[jrrsparkles]

If someone managed to become rich in the hard way then they are aware of this because if you try to look rich then it's something like digging your own grave. For rich Debt is a good thing that gives exceptions from tax payments but if they accumulate debt of partying that's bad, it's only good if they have potential of money making in that.

[Bitstar_coin]

Earning a lot of money by luck without planning for a steady source of continuous influx of money will end up pretty bad.
I think this type of situation mostly happens to crypto enthusiast who suddenly hit it big in an airdrop of a shitcoin pump, they get easily carried away and spend extravagantly forgetting to make plans for days ahead after the excitement has died down.
To me, having a proper plan even before earning big is very important so you don't get carried away.

[Ever-young]

Experience lets us know what mistakes/rights are appropriate for the life we ​​are living, I once saw a saying "poor people have money" yes in this situation I think it reflects this. there.

Lack of knowledge, skills... even if you have a lot of money but don't know how to spend it properly, you are no different from a poor person. But in essence, I see that most of us cannot avoid the seduction that money brings, it governs our behavior so that we have many choices that we have never satisfied, but at a certain point. that will also realize that it is just a means to help us find a fulfilling life.

For me, I think there are some people who don't deserve to be rich, they should just be average, not rich not poor because this set of people, when they become rich, they won't think about the welfare of their loved ones.

They first they will do is to buy expensive things, live an luxurious lifestyle, they forget they have a dream to fulfill, these people when they have money, they forget most important things to do like investing their money maybe in businesses and so on, and they might go bankrupt because of lack of management, reckless etc. because money comes with a kind of feelings that when you have it, you will forget those people and things that matter to you, so let's pray and have a good plan of money before it will lead to disastrous like death, etc.

[stadus]

2.Pay your Debt

Having debt or bad debt is why most of us continue to suffer because it's like a weed that, if you don't cut the root, will grow again. And the debt, when you don't pay it, has interest compounding. So your number one expense is to pay off the debt when it earns a lot of money. Be responsible not to ignore the people we owe money to, talk to them, say thank you, and pay all the debt.

We should also know that our reputation also depends on it, and when we know how to pay, many people will trust you. And when you know how to pay off debt, you also show that we are not only thinking about ourselves.

That is true.

One thing I've in my life is to pay debts. Whether they're the old ones or those new ones. As long as you remember them and you didn't intend to default and run away from the person you've borrowed to, you have to pay your obligation.

Those people that have borrowed money from me and never paid at forgotten even telling hi or hello to me and talk about their debt, they always have a shortcoming.

I don't know but that's probably how fair life is for those that are taken advantaged to.

Paying debt is always an obligation, and not just something that you can easily forget and leave. Otherwise, you are no longer different from scammers who just walk away after they have taken advantage from their target. While a lot of people ignore their debts and act like they’re not accountable for it, but it’s still a big impact if you care paying your debt voluntarily even if the one you borrowed is not talking about it anymore. Reputation cannot be bought, but its deeply earned and merited.

[Maslate]

The most difficult thing is when you can earn more money but still live like when you were still earning little, that's why people who earn a lot will start to change their lives because they want more, especially if their life cycle also changes so that they are now friends with other people. -people with the same economic level end up spending the same as what they earn, sometimes even more, for example by going into debt because they think their income will be sufficient to pay their debts even though they are starting to have difficulty paying. If you earn more then start investing and investing is not to make you rich so you can go on a spree but to make your life calmer.

People’s mindset when they start to earn big, they will also tend to level up their way of living. I believe a lot of us have seen or experienced it. That’s why instead of seeing ourselves in consistent progress, we end up experiencing pullbacks because of the wrong perspective we have.

Changes are needed and are definitely inevitable, but it should be on the right lead wherein we will continue to grow more and progress, and not on in every progress we gained, we also increase our expenses and debt that will eventually pull us back not to easily reach our target.

[Mate2237]

Wow!!! This is nice, when I read the thread you just spoke my mind. I have seen people who won up to $10,000 and they thought the money was big and move into the supermarket and market place and hotels with girls and within one week everything is gone. But someone that has the prosperity mindset would first of all sit and think of what to buy or what business to do and not to live a extravagant lifestyle..

And another most important thing in human life is to clear your debt always if you are debtor. As for me I don't like debt because debt can make someone to be bankruptcy if you are not doy any job to pay back your debt on time. And one can plan big if he is debt free. And from there planning ahead to achieve new goal come to mind. Man with heavy debt can't plan life well. Well plan 4 objectives of life.

[Bananington]

Surely everything our OP mentioned is valid, but there's always a margin to put into consideration, contingencies that may arise from certain choices not necessarily from us but from maybe a close family or relation that we may need to consider.

Also, rushing to invest should be carefully thought out and well mapped out because no one knows how an investment outcome might turn out to be in the end.

[GeorgeJohn]

     What should you do when you have a lot of money?

From my perspective it's obvious that when you make alot of money your living style will automatically change, I know very well that their is some persons that will make money and you will not know that they have made such money in their entire life so why some persons too we make money and you notice that there have made money, the only thing I understand in life Is that you have your own life to live and you also be a manager of your life.

When I have money I will make sure that I Have diversify my source of income, for me I believe but we have to extend hour levels of place even income so another thing that is important when you make money is a security because when you made money you need to self guide yourself to your enemy so that you will not get harm at any point in time because your success or your progress will it be a someone's problem so you need to secure your business and they also secure your life this is two things that is important when you make money based on my own perspective.

[boyptc]

2.Pay your Debt

Having debt or bad debt is why most of us continue to suffer because it's like a weed that, if you don't cut the root, will grow again. And the debt, when you don't pay it, has interest compounding. So your number one expense is to pay off the debt when it earns a lot of money. Be responsible not to ignore the people we owe money to, talk to them, say thank you, and pay all the debt.

We should also know that our reputation also depends on it, and when we know how to pay, many people will trust you. And when you know how to pay off debt, you also show that we are not only thinking about ourselves.

That is true.

One thing I've in my life is to pay debts. Whether they're the old ones or those new ones. As long as you remember them and you didn't intend to default and run away from the person you've borrowed to, you have to pay your obligation.

Those people that have borrowed money from me and never paid at forgotten even telling hi or hello to me and talk about their debt, they always have a shortcoming.

I don't know but that's probably how fair life is for those that are taken advantaged to.

Paying debt is always an obligation, and not just something that you can easily forget and leave. Otherwise, you are no longer different from scammers who just walk away after they have taken advantage from their target. While a lot of people ignore their debts and act like they’re not accountable for it, but it’s still a big impact if you care paying your debt voluntarily even if the one you borrowed is not talking about it anymore. Reputation cannot be bought, but its deeply earned and merited.

As much as I don't want to say the word, you've already said and compared it to them. For which, those that have been asking money and forgets about it need to do something about it.

Those that ignores their debts, I know that they're also believers in karma and someday if they did it to the others, how I wish that it won't happen to them as well.

So, if they don't want to happen that to them and their family, they shouldn't do it and become responsible.

[Stepstowealth]

So, when we are living a rich life, we have to set a new target.

This is one of the most important thing to take note of when one achieves a level of financial independence because when someone becomes too satisfied and comfortable with their current financial position, there will not be enough motivation to push you to be better. The rich people who become wealthy are those that did not fail to set new financial targets for themselves each time they achieved one financial goal. The target is to keep going, and setting new goal is a means to achieving that.

[GeorgeJohn]

So, when we are living a rich life, we have to set a new target.

This is one of the most important thing to take note of when one achieves a level of financial independence because when someone becomes too satisfied and comfortable with their current financial position, there will not be enough motivation to push you to be better. The rich people who become wealthy are those that did not fail to set new financial targets for themselves each time they achieved one financial goal. The target is to keep going, and setting new goal is a means to achieving that.

I have  stated it before in my first response, if you want to continue to get rich you have to strategies well, because some persons who believe on one source of income they are the one that regret in future, but if you're willing to continue to experience progress in future or continue to accelerate higher you have to diversify your source of generating income, many people who are rich before and later became poor is based on miscalculation of diversification of source of income, so what I know that brings someone down is when his concentration is one sided in generating income, when you spread you way of making money you will continue to accelerate or flourish in life. Secondly remember that investment is the most important key someone who wants to expand.

[passwordnow]

So, when we are living a rich life, we have to set a new target.

This is one of the most important thing to take note of when one achieves a level of financial independence because when someone becomes too satisfied and comfortable with their current financial position, there will not be enough motivation to push you to be better.

People's desire never stops and that's when you're at the point of your life where you're in a cloud 9 or being successful, you'll find something new, a new target or goal that you want to achieve. That's why with financial freedom, you can set targets freely whether they're new, past or you just want to continue what you have stopped before. It's obvious that this can't be done by a commoner because we're all living most of our lives in order to survive and not set new goals. For the rich, the freedom is there and that's why all of us are doing hustles that can put us there someday in the future.

The rich people who become wealthy are those that did not fail to set new financial targets for themselves each time they achieved one financial goal. The target is to keep going, and setting new goal is a means to achieving that.

They are also the ones that never stopped pushing their goals for them to attain what they set as their targets. They're always motivated and hungry for success and one thing that they have in common is by being consistent. Consistent in all things and aspects that they do because people that are lazy reaches nothing and it shouldn't be an attitude for someone who wants to go to the top or trying to be rich and trying to achieve success. So for every achieved goal, for sure that the rich ones have their next goal that they already set replacing that one they've already achieved.

[rhodelmabanal]

    What should you do when you have a lot of money? This is one of the most important questions that we must give an important answer to. No matter how much money a person can earn, it is still possible for everyone to use it up if it is not managed properly. Just like what happened to the king of pop, Michael Jackson, even though he earned a lot of money in his career, it was still not enough because he had a lot of debt. As big as it is, it almost reached 500 million dollars in debt. And even the famous actor Nicholas Cage is also like that; there is a report that he reached 150 million dollars in net income, but it was still not enough; it also reached the point that it was all used up, and he also had a debt. And what we can learn from these events is that if you want to stay rich, you have to keep being humble. "Hard-earned money should be protected."

     We are both consumers and producers, and when we say producers, we mean that we provide services to people in exchange for money. As for employees, they receive wages from their work. Because they help the business owner's goal be executed. As for business owners, they make money from their businesses. Because they can help their customers with their products and services. In other words, [The more value you can produce, the more value you will get back."

    But the opposite of this is being a consumer. Yes, it's true that we will spend; it's normal because we have needs. There is also nothing wrong if we want to buy or acquire things. But if you always spend money, that's why, in this topic, I want to share here the things that should be done when we have a lot of money or income. Because since we are here with cryptocurrency or bitcoin, it is not really far for this to happen to us. Actually, even if we are not rich or earn a lot, we can do it because at least when the time comes when you become rich because of this cryptocurrency or bitcoin, you already know what to do.

And the following is what we should do:

1. Don't buy expensive things right away.

Most of us want to buy expensive things when we receive a lot of money. Because aside from the convenience and the fact that the fact that we can benefit from it for a long time, we also want to get the attention of other people. We also cannot deny when we can afford something that an ordinary person cannot afford. But sometimes, because we can afford something, we just end up spending it, and we forget to ask ourselves if we really need it. Or we just want to buy it because we want to impress other people. And due to a lack of spending awareness, we become impulse buyers. Until this habit becomes our second nature or the worst, we base our spending on what we want other people to see in us.

But the question is, what is our goal? to get rich to impress, or to get rich to have freedom? When you have a lot of money, you have nothing to prove to other people. Since you know that you are rich, it is a better idea not to let other people know that you are rich. One should just choose the simple life and live with a purpose.

2.Pay your Debt

Having debt or bad debt is why most of us continue to suffer because it's like a weed that, if you don't cut the root, will grow again. And the debt, when you don't pay it, has interest compounding. So your number one expense is to pay off the debt when it earns a lot of money. Be responsible not to ignore the people we owe money to, talk to them, say thank you, and pay all the debt.

We should also know that our reputation also depends on it, and when we know how to pay, many people will trust you. And when you know how to pay off debt, you also show that we are not only thinking about ourselves.

3. Be prepared for big changes.

When you have a lot of money and you have changed the quality of your life, whether it is poor or rich, you need to be doubly careful because you can lose a lot of things. So it is very good that you are ready for this big change. And the preparation that you should do is the preparation of our new life. Let's design our new goal that we want to achieve, and what lifestyle do you want and what kind of person do you want to be with?

We need to do it more when you're rich, because you shouldn't settle for what we have achieved now. We still need to move on and pursue other meaningful things. We also need to grow, and we shouldn't be naïve in our behavior because many people will suddenly show up when they know they can get something from you.

4. Create a new goal.

Let's be grateful for our achievements and also be thankful that they came to you, but don't be satisfied that if you earn a lot of money now, be thankful. We should not be as greedy as possible. If we achieve our first goal, we make another goal, and so on.

Success is like cleaning; if you clean your house today, you will have to clean again tomorrow. And we'll do it every day, so we can keep a clean house, right? So, when we are living a rich life, we have to set a new target.

Well this is good, in my part if i become a reach from poor status, i will keep it as a secret because peoples hates progress, i will keep it a secret even in my closest friend and family, they will never see me buying a lot of things and car houses etc., even of it is hard but in my calculation keeping it as a secret can make everything fine.

[pinggoki]

This is one of the most important thing to take note of when one achieves a level of financial independence because when someone becomes too satisfied and comfortable with their current financial position, there will not be enough motivation to push you to be better. The rich people who become wealthy are those that did not fail to set new financial targets for themselves each time they achieved one financial goal. The target is to keep going, and setting new goal is a means to achieving that.

I don't know man, if I feel like I'm set for life, I'd rather just have more passive income and experience life more than anything, there's nothing more better than to improve your soul, character, and your experience, I don't want to be doing more money making because I have more money like what's the point of that? I'm already set for life, what would be the point of me trying to improve financially if the goal was reached a long time ago, that's why I don't get billionaires because they already can live on that much money already, why want more? Although I can agree with most of the stuff that's been said by OP, I'm against that part of the things that I have to avoid when I become a rich person.

[bettercrypto]

I have heard and watched many people on social media who went from being in a difficult situation to suddenly becoming rich, and most of them are lottery winners who became instant millionaires. For most of them, the million dollars that they got were short-lived. experienced a luxurious life.

Because almost all of their lottery winners bought expensive things right away because they are not ready for the new life they have, they lack financial management, and they don't make new goals in life, which should be like what people do when they suddenly have a lot of money. I hope that those who will have a lot of income in the coming rally of the bull run because of their holdings can follow these guidelines so that they can handle their money correctly.