Scott Fitzgerald: “The rich are different than you and me.”
Ernest Hemingway: “Yes. They have more money.”
I often see this exchange between the two authors quoted. I always want to take it one step further: “But why do the rich have more money than most.”
And my answer would be: “Because the rich think differently.”
And here’s the difference: The Masses think like a Consumer. The Rich think like a Wealth Builder.
There is a major difference between the two.
A Consumer thinks: I want more money so I can buy more clothes, take more trips, eat out more often, and have more fun.
The Wealth Builder thinks: I want more money to save and invest for the long term so that I can have more freedom, more choices, more fun, and more opportunities to give back.
Do you know what separates these two mind-sets? Instant gratification.
It’s the difference between snapping up those Prada shoes—which you simply must have because they go perfectly with that Juicy Couture dress you just bought—or depositing that same sum straight into a savings account, or better yet, a mutual fund.
The decision is yours to make.
I’m not suggesting self-deprivation. There’s a world of difference between denial and discipline.
True, the discipline of saving may require delayed gratification. But think of it this way—you’re giving the money to YOU (not Visa or Starbucks) so that ultimately you can purchase what you please without pressure or worry.
What about you? Do you think like a Consumer or Wealth Builder?
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