Things to avoid when you earn a lot or become rich

[bakasabo]

1. Don't buy expensive things right away.

Maybe not only expensive things but also avoiding expensive habits continuously, such as buying expensive coffee, eating at expensive places, or something like that. Because surely we can also buy such things at a cheaper price. It is better to prioritize spending that provides long-term value.

Something does not make sense. An item can not be simultaneously cheap and have a long-term value. From my experience, cheap things does not last long. But expensive ones are made with better quality and better materials. I would suggest to make a small research before making a purchase and plan how long and where you are going to use "thing".

For example you have mentioned coffee. Cheap coffee making machine wont work for a long time before breaking, however, if you dont drink coffee often, you might consider buying a cheaper one. However, cheapest coffee machines use coffee capsules, and 1 cup of coffee made with it will cost more than a coffee from beans. Also consider options of a coffee machine. Touch screen models are more expensive than the one with buttons.

So before buying something, always think how you are going to use it.

Most expensive things comes with great quality indeed. However, I don’t think buying an expensive stuff that you think will be of great use to you will still be an issue. One should not matter on the price, but on the quality itself that he will be able to use it for a longer period, and that definitely saves money and time.

However, I would go instead sorting out your needs from your wants. If you can prioritize your basic necessities more than your luxurious wants, you can actually save more money for your future investment. Just don’t overspend, but still stick to your budget. With that, you can avoid future problems.

You have your own priorities, I have my. My post was to show that it is really hard to get a high quality and long-term usage item. I wasnt trying to say that expensive things does not break. But from my experience, any tool that is used frequently, if it is cheap, it breaks fast. $1 t-shirt will become stretched faster and lose colors after several washes. Devices work longer. Also I have said that a person first must think how he is going to use that. That means I am not that person who buys one expensive cloth item and wear it for ages. That does not mean that I have bought golden Vertu and has been using it for decades.

[fuguebtc]

After owning money, everyone wants to show it.

Incorrect. Most with wealth are very understated and have no desire to draw attention to themselves.  Most flashing the trappings of wealth are faking it. 

Agree with you, that people who are truly rich will not want to look rich, even their appearance is ordinary. Those who look luxurious appear to show they are rich, in fact I question their wealth, or are they nouveau riche. So far that's what I see from what I've experienced.
Those who are truly rich, they look more simple and not excessive. I don't know why I always see this where someone who is actually simple wants to look luxurious, even though we know how they really are.
Usually rich people like that start really from 0, so they know what it's like to be in an unpleasant situation in the economy, so they will act more modestly like you said.

That depends on each person's personality, each person has different interests and lifestyles, and we cannot rely on just a few people we meet to equate them all.

There are also many people who become rich from zero but are very arrogant, like to brag or compare themselves with others. Meanwhile, there are many rich people who don't want others to know they are rich, they live simply and modestly and always try to avoid becoming the center of public opinion. The proof is that my neighbors also have people like that, some people always like to brag, some people choose a modest lifestyle. I don't know why they like to show off or hide their wealth, but one thing I know is that they don't like each other and always avoid meeting each other under any circumstances.

[ndutndut]

After owning money, everyone wants to show it.

Incorrect. Most with wealth are very understated and have no desire to draw attention to themselves.  Most flashing the trappings of wealth are faking it. 

Agree with you, that people who are truly rich will not want to look rich, even their appearance is ordinary. Those who look luxurious appear to show they are rich, in fact I question their wealth, or are they nouveau riche. So far that's what I see from what I've experienced.
Those who are truly rich, they look more simple and not excessive. I don't know why I always see this where someone who is actually simple wants to look luxurious, even though we know how they really are.
Usually rich people like that start really from 0, so they know what it's like to be in an unpleasant situation in the economy, so they will act more modestly like you said.

I also agree with your opinion. Rich people are actually not people who like to look luxurious, instead they look simple. Maybe that's how successful people always pay attention and maintain balance in any situation. Simple but elegant in playing every role in life so that his mindset remains proactive and constructive. It's true that usually rich people are like this, starting from the bottom, not immediately becoming rich and having to go through a lot of struggle. Of course with this mentality they can avoid things like the OP said.

However, lately we have come across a lot of flexible content circulating both from Instagram, Tiktok, YouTube and other social media platforms and the reasons vary, from providing motivation to hoping for validation. Usually people like this need to admit that they are rich, and quite a few of them are actually not that rich, they just pretend to be rich by showing off their money and luxury goods just to influence their social media followers.

[uswa56]

That depends on each person's personality, each person has different interests and lifestyles, and we cannot rely on just a few people we meet to equate them all.

There are also many people who become rich from zero but are very arrogant, like to brag or compare themselves with others. Meanwhile, there are many rich people who don't want others to know they are rich, they live simply and modestly and always try to avoid becoming the center of public opinion. The proof is that my neighbors also have people like that, some people always like to brag, some people choose a modest lifestyle. I don't know why they like to show off or hide their wealth, but one thing I know is that they don't like each other and always avoid meeting each other under any circumstances.

If we equate everyone with some people we have just met, of course this is very inaccurate because it could be that the people we have just met do not display their personality well and they display things that are not as usual, so in this case we cannot like every new person we meet.

You are right, a person's arrogance really depends on a person's personality and also the extent of their knowledge about this life and for some people who have a good understanding of the life they live will certainly never boast about themselves because what they have achieved now will not last long if they brag about themselves.

And those who already have a lot of wealth and still choose to live simply, I think they have been able to use their wealth properly and they use the wealth they have on things they really need and also they are very comfortable with their simple life so they don't have to spend money. much to meet their needs.

[Justbillywitt]

After owning money, everyone wants to show it.

Incorrect. Most with wealth are very understated and have no desire to draw attention to themselves.  Most flashing the trappings of wealth are faking it. 

Agree with you, that people who are truly rich will not want to look rich, even their appearance is ordinary. Those who look luxurious appear to show they are rich, in fact I question their wealth, or are they nouveau riche. So far that's what I see from what I've experienced.
Those who are truly rich, they look more simple and not excessive. I don't know why I always see this where someone who is actually simple wants to look luxurious, even though we know how they really are.
Usually rich people like that start really from 0, so they know what it's like to be in an unpleasant situation in the economy, so they will act more modestly like you said.

It's about your orientation and mindset. If I eventually become very rich tomorrow I will appear rich, I will buy luxurious things that I can afford and put on my body. If you are rich people will know no matter how you want to hide it, I'm the who make the money so spending it on things that will make me look good shouldn't be an issue. I will drive the best cars, live in the best neighborhood in town, wear designers clothes. People will always address you according to your appearance. I will eat good food and go to vacations whenever I can. My reason is that I have laboured very had to get to that level, nobody knows what will happen tomorrow. If I leave the world those that didn't know how you suffered for the money will be the ones to spend it on things they want.
You don't even have to question the source of wealth of people who dress in a luxurious way, some of them have really suffered to make their money, they have legitimate business. It also depends on the kind of lifestyle you live fancy. Just imagine a celebrity that has money and be dressing like a poor person. We all see life differently what
you consider as unnecessary and common, might actually be a big deal for others.

[JoyMarsha]

When you earn too much or become rich, the first thing that should come to your mind is investment. You invest the money into the right business so that it will continue to generate more money for future use. Money, they say comes and goes. As a rich person, you should avoid buying on impulse, and go for the most important needs. Pay up your debt, don't allow it to accumulate. Buy affordable luxury, don't spend to impress anyone. A rich man can also become a poor man tomorrow. Spend wisely

[C10H15N]

When you earn too much or become rich, the first thing that should come to your mind is investment. You invest the money into the right business so that it will continue to generate more money for future use. Money, they say comes and goes. As a rich person, you should avoid buying on impulse, and go for the most important needs. Pay up your debt, don't allow it to accumulate. Buy affordable luxury, don't spend to impress anyone. A rich man can also become a poor man tomorrow. Spend wisely

Most will never become rich from working.  Very few jobs pay enough to do that.  Most wealth is built from investing earned income to start the process while reinvesting dividends and capital appreciation - a process that takes decades to start snowballing.

[Rockstarguy]

After owning money, everyone wants to show it.

Incorrect. Most with wealth are very understated and have no desire to draw attention to themselves.  Most flashing the trappings of wealth are faking it. 

Agree with you, that people who are truly rich will not want to look rich, even their appearance is ordinary. Those who look luxurious appear to show they are rich, in fact I question their wealth, or are they nouveau riche. So far that's what I see from what I've experienced.
Those who are truly rich, they look more simple and not excessive. I don't know why I always see this where someone who is actually simple wants to look luxurious, even though we know how they really are.
Usually rich people like that start really from 0, so they know what it's like to be in an unpleasant situation in the economy, so they will act more modestly like you said.

You are correct. The rich people understand how to control their money and how to live with a life style that will generate more money. Those who claim to rich focuses on how to get flashy and luxurious things to give people the impression that they have the money but the real rich people are very simple in the of doing things, they only think of way how they can be able to generate more money that is why they keep on become rich because they understand how to obtain wealth and they know living a luxurious lifestyle is just a way of spending money on things that won't bring any good value .

Avoiding expensive and luxurious lifestyle truly sustain wealth, people who live the luxurious lifestyle would always want to give people the impression that they have money to spend even if the money is not their to be spend.

[FanEagle]

The point is, what we need is quality, regardless of whether the price is expensive or cheap, especially when you already have a lot of income or are already rich.
I think we don't need to be too thrifty or restrain ourselves from necessities except for buying useless things as long as we have money then we have to fulfill all our needs and desires with the best things.

When we are rich or have a large income it doesn't mean we have to save excessively, that's what we have to remember, giving the best things is also an appreciation for ourselves after being able to do many things, so I think it should be done for yourself.

I feel like buying one expensive high quality thing, is better than buying ten cheap low quality thing. Because if you buy once, and keep using it for many years, then you are actually getting cheaper per usage from it.

For example I have one item of clothing, that I owned for ten years now, still as good as brand new, and yet we are talking about something that is so expensive, it was nearly like one month salary back in those days, probably worths around the same now as well. If I had bought something else, something very cheap, then I would have probably ruin it by now, and would have to end up buying many more times, which is why I think it is smarter to just one high quality thing for once and not repeat it again.

[lizarder]

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

At least we must try to save money and not spend a lot of money in unnecessary places. Buying expensive goods will make our finances reduced, especially if we just build financial power in business and investment. Most people are too pursuing a luxurious life without thinking about the adjustment between income and expenses. To achieve a better life we must have a plan and develop financial to be more productive.

Be this life as a step to achieve the stage of financial freedom and try to live more efficiently in order to reduce unnecessary expenses. There is no easy life without being prepared and make a target to achieve success as we want.

[Hanadawa]

-snip-

When someone becomes a billionaire and is very rich, he will no longer care about appearance and must follow market trends. Someone who just wants to look rich will try any way to get people to see him as rich. But someone who is truly very rich does not need recognition from others. He will appear as himself. He wouldn't care about other people's judgments. You can see someone who is on the Forbes list and they only wear plain t-shirts.

But I think there is nothing wrong if a billionaire shows his wealth by posting photos on a luxury yacht or villa. As I said before, when someone becomes super rich they won't care about other people's judgments and only care about their own personality.

[CageMabok]

When you earn too much or become rich, the first thing that should come to your mind is investment. You invest the money into the right business so that it will continue to generate more money for future use. Money, they say comes and goes. As a rich person, you should avoid buying on impulse, and go for the most important needs. Pay up your debt, don't allow it to accumulate. Buy affordable luxury, don't spend to impress anyone. A rich man can also become a poor man tomorrow. Spend wisely

Rich people who are smart and wise usually will not use money carelessly on things that are not important, so they will only consider important things to use their money, such as in business and also in investments that can give them more money in the future. Your advice is good enough for everyone even though the point is for rich people, because I am also not surprised when I see there are rich people who are still wasteful in their lives by not considering anything when using their own money.

However, this also needs to be seen as a bad option by poor people who are struggling to become rich in their lives, that they must be able to make the right decision when they want to spend money on something. And the most important thing is that there must be a business and also an investment for the future that can help himself when he is old.

[Sexylizzy2813]

Some of the rich people we have today are doing these things you're saying the rich shouldn't do but still they don't go dry, they invest to keep the money coming and buy expensive things to show how rich they are and they don't lose in any way, the money keeps coming from all angles.
Is it that they're lucky to always stay rich no matter how they spend? Does staying rich has to do with both the idea of managing your wealth and luck at the same time?
The whole thing to me has to do with luck if you ask me, while investing some might fall in the wrong hands while trying to do business that will be profitable and they lose everything while some get it right by doing business with legit business men and things will be cool with them.

[Antotena]

When you earn too much or become rich, the first thing that should come to your mind is investment. You invest the money into the right business so that it will continue to generate more money for future use. Money, they say comes and goes. As a rich person, you should avoid buying on impulse, and go for the most important needs. Pay up your debt, don't allow it to accumulate. Buy affordable luxury, don't spend to impress anyone. A rich man can also become a poor man tomorrow. Spend wisely

Investment is good but when you become rich, the first thing you need to do is to cut off the liabilities that you have on you, remove anything that you don't need for that moment and cut down your expenses then you can now start investment. If you don't do this and run into investment, you will be destabilize financially and you will begin to take from your investment because you don't have anything to use as alternative because your liability is more than your account balance.

If you are going to invest, make sure you are giving all into it and if possible look for external source of income because for business to succeed, it takes time. This is the problem many new investors and business people don't understand, just because you made an investment doesn't mean you will succeed in it. It's a risk and its either it favour you or it doesn't go as plan, this is why you must be prepared before you start invest.

[RockBell]

When someone becomes a billionaire and is very rich, he will no longer care about appearance and must follow market trends. Someone who just wants to look rich will try any way to get people to see him as rich. But someone who is truly very rich does not need recognition from others. He will appear as himself. He wouldn't care about other people's judgments. You can see someone who is on the Forbes list and they only wear plain t-shirts.

But I think there is nothing wrong if a billionaire shows his wealth by posting photos on a luxury yacht or villa. As I said before, when someone becomes super rich they won't care about other people's judgments and only care about their own personality.

If you look at billionaires they don't dress all that simple because they need to show some appearance he other to get the attention of other rich people, as a rich person you will need to do business with other rich people so their is no way you won't look rich. Money on its own will push you to do things, you will want to have a good ranking for your self. So that you can have business deals come your way. The problem is even if you don’t want to get recognized their is now way they won't recognize you, even as simple as people might think mark is a simple i bet he as a lots of luxurious items maybe a yacht becomes billionaires love yacht when they go for holiday or even vacations.
People that are rich are also human and just because of of those attentions so times criminals start to look for ways to want to rob them, so they have to even provide their self with extra security for the safety of them and their families. Been rich comes with a lot of responsibility. Despite the responsibility it is far better than been poor.

[GeorgeJohn]

If you’re lucky enough to become rich you should avoid excessive materialism, flaunting your wealth & surrounding yourself with money focused individuals. It's important to prioritise financial responsibility, seek genuine relationships & make informed investment decisions. You should avoid neglecting your personal well being & prioritise mental & physical health. By avoiding these pitfalls you can maintain a balanced & fulfilling life as a wealthy person.

every person have it on Theory and its own way of operation so I believe that in this theory every person must go have a a definition to present, so for my own Theory people out the way they feel like when they are rich based on the character that is embedded in them through a genetic information so with that it is how people process information to control whenever they are rich, so avoiding people it is a personal character that is already in you it is not something that you emulate from someone else so it is written all over you from the genetic transmission

[fauzan Ichsan]

If you’re lucky enough to become rich you should avoid excessive materialism, flaunting your wealth & surrounding yourself with money focused individuals. It's important to prioritise financial responsibility, seek genuine relationships & make informed investment decisions. You should avoid neglecting your personal well being & prioritise mental & physical health. By avoiding these pitfalls you can maintain a balanced & fulfilling life as a wealthy person.

every person have it on Theory and its own way of operation so I believe that in this theory every person must go have a a definition to present, so for my own Theory people out the way they feel like when they are rich based on the character that is embedded in them through a genetic information so with that it is how people process information to control whenever they are rich, so avoiding people it is a personal character that is already in you it is not something that you emulate from someone else so it is written all over you from the genetic transmission

I think style is also needed to balance relationships, of course this is to increase self-confidence to build relationships and can also make other people believe in our abilities so that many orders will come to us, but a simple personality is really needed to maintain personal stability. So we must be able to position ourselves according to our use, so that other people look at us with reluctance, and if that happens, we wear whatever clothes other people will still respect us.

[Bright0515]

Yeah your points are very clear. Some young people who see money at their early age barely think of something reasonable to do with it because they believe they still have a long way to go but forgetting that opportunity may just come but once, just as you have listed paying your debt and buying of expensive things young people today see expensive things as another means to show that you are wealthy not even thinking of investing. I have someone I call a boss this man has shops a hotel and many more investment but still die of hunger why because he misuses the money when ever it is available it is also wise to be wise in your spending.

[avp2306]

At least now we got an idea on what are those things we need to avoid so that we can maintain our earned wealth.

Since there are people who change immediately their lifestyle then live an extravagant life that's why majority of those people who already experience to get rich got broke because they spend a lot exceed which exceed to their earnings.

So to avoid getting into this situation people still need to have.

1. Proper budgeting this is basic but most effective method which people could able to use and for sure if they know how to properly execute this they will not exceed to their monthly budget and will have a lot of extra money to use for savings or investment.

2. Don't buy expensive unnecessary things because if we always want to show up or flaunt our wealth for sure there would be a time that we will get broke because of those habit for buying nonsense things.

3. Spend a lot of money for vices and engage with a lot of girls. This is sinful act and for sure we cannot get any positive impact on this since with those thigs for sure we will spend a lot of money just to satisfy those people we meet.

This is few reasons to avoid but for sure we can get a learnings from this since this is common distractor of people.

Living a simple life is cool and for sure that we can make our earned wealth last long and if we became more strategic in terms of our financial gains for sure we will live a more happier life.

[OrangeII]

Well, sometimes new rich people or people who have just gotten a lot of money, don't know what they are going to do with that money, and think that it will continue to be there. Many people buy expensive things, or don't pay attention to the investment or business they are building, so they spend the money for nothing. This is usually realized when their income starts to decrease, or their money will soon run out.
However, I have also felt this way, when holding quite a lot of money, but I was lucky that I had time to pay attention to several investments which currently still continue to provide me with income, although not that much.