Be Rich or Be Poor? It is Your Decision
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Everyday we have to face a lot of choices and make a lot of decisions. It is our decisions that shape our destiny and future. This is also matching the theory of Karma where what you do today will determine the results you will get in future.
This is why it is your decision whether you want to be rich or be poor in future. The theory is also simple. If you want to be rich in future, then you have to make some kind of decisions that can make you rich today. So what kind of decisions that we have to make everyday that will make us rich? To make it simple, there are only 2 categories of decisions that can make us rich – Time and Money.
Our Decisions on Time and Money
The world is fair that everyone of us is given 24 hours per day. Our success is determined by how we spend our time everyday. For example, if you want a healthy body, then you have to spend part of your 24 hours to exercise. If you want to be rich, then you have to spend some of the time to do something that can make you rich, for example learning how to invest and etc. So our decision on time will determine what kind of actions we will take and shape our destiny.
Another category of decision is Money. How we spend our money will determine the wealth that we will have in future. Most of the financial problems that people have today are because of their decision on spending money. If you think that today is your payday and you want to go shopping without any plans, then you might end up with a lot of debts. But if you set a budget, save up some money and buy assets, then you might end up wealthy in future.
Decisions that can make you Rich
How you spend your money and time is the decisions that will make you rich. If you want to be rich, then you must learn how to spend your time and money like the rich do. Below are some of the examples that I came across from those rich people around me.
- Decision to conquer the investing risk. Investing is risky. However we cannot skip this if we want to have a good financial future. So we have no choice but have to learn how to manage the risk and invest properly. The riches understand this theory and they always spend their time to learn this. Beside that they also spend their money to buy those education materials to boost their learning speed. For other, they just don’t have time or lazy to learn this. So they end up giving up or losing their money in the get rich fast program.
- Decision to buy assets before liabilities. The biggest difference between rich and poor is simply Rich people have more assets that the poor. This is because of their shopping habits. Rich always spend their time to look for the good deal and buy assets while others just spend all their money to buy liabilities such as sport car, gadgets and etc. Rich people also buy this but they only do this after they buy their assets to support this liability.
- Decision to control the buying desires. I believe that our desires are the source of problems. So if we want to succeed, we have to learn how to control our desires. If we want to be rich, buying and spending desires must be under control. This is what we called Delay Gratification. This is also the spirit that I learn from my rich customers.
- Decision to spend more time on financial related information. I found that most rich people love to watch financial channel on TV, read financial magazine and discuss financial news with people. They just spend more time on financial and money related issue than others. Since they spend so much time and efforts on the finance field, their financial literacy is simply higher than all of us. So they can make more money than us, don’t they?
- Decision to be healthy. Last but not least, we need a healthy body to succeed in everything. Lately I read a book about health and success. I found that skills such as leadership, action power, analysis power, learn things fast power will be increased if we have a good body. So it is no wonder if you see a rich person have a good and healthy body.
Choose to be rich
You can choose to be rich! It is your decision whether you want to be rich or be poor. I will suggest you to change your believe if you believe that you have to make a lot of money in order to be rich. Even you are broke today, it doesn’t mean that you cannot be rich tomorrow. You have the right to dream, think and believe you will be rich in future. All you have to do is just make sure you have made those decisions that will make you rich and follow it. One day you will succeed.
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9 Responses to “Be Rich or Be Poor? It is Your Decision”
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This is so true…that’s why the secret works, because the saying that “what you focus on will come to you” is true. If you’re focused on a problem, you’re actively and inactively working it through in your brain quite often. So, the secret isn’t really a secret at all!
If I was obsessed with being skinny, I’m sure I would exercise more!!!
Sounds like the law of attraction
Yes I believe in the law of attraction. We can’t be rich or succeed if we don’t believe we can make it. At least this will block our action power. We don’t have the motivation to take action if we don’t believe the end results.
Excellent post and very true.
It really does start with making a decision that you WILL be rich. Anyone can make to decision to be rich or not. Then comes the hard work!
Hard work in the wrong direction won’t get you anywhere, so you need to boost your knowledge. Here’s my recipe that has served me very well:
1. Make the decision - it is a COMMITMENT.
2. Assess your current situation
3. Control your spending
4. Eliminate debt
5. Increase your financial IQ
6. Invest in appreciating assets
Pretty much what you said already.
It is VITAL to assess your current situation. I know people who want to be rich who don’t even know what their own mortgage payment or rent bill is. Your starting point is to have a very clear picture of where you are now - in order to get to where you want to be. Create a spreadsheet showing ALL your income and expenses - that really is BASIC.
Many people expect to get rich - but they can’t even control their own spending - they waste a lot of money and are up to their eyes in credit card debt. If you can’t spend wisely you will never be rich - so many people fall at the first hurdle. Controlling spending is even more important than increasing financial IQ - as I know people who have a high financial IQ who are debt-ridden because they WASTE so much money!
I put eliminating debt before increasing financial IQ because you don’t actually need a heck of a lot of IQ to eliminate debt - it’s more a psychological thing - controlling spending and eliminating debt is as much a mindset as anything else - in a way that’s also true of building wealth. You only really the higher financial IQ once you are actually getting cash piling up around in your current account and you want to start learning how to deal with that wisely.
Hope that helps and Happy New Year!
Hi Tony, you really made an excellent reply!
Yes, your point of view is true too. In fact they are the basic for financial success. The basic is simple but not everyone can follow it. Well just like what you have said, it is more a psychological thing where our emotion involved. I believe emotion is the hardest thing to be controlled.
Very good post and excellent reply from Tony. I want to comment the LOA a bit. By definition, the LOA just needs to you to believe that you’ll be rich and the universal will work it out for you even WITHOUT any action from you. This is the part where I disagree that if we don’t put any action towards where you want to go, we’re not going to reach there even though we’re 100% believe in it. For this particular case (i.e. becoming rich) simply believing is not enough but we still need action. Maybe your mind reaches there but definitely not your body.
Hi ChampDog, You are totally right. Believing in becoming rich without taking any serious action just like day dreaming. We never achieve it and it always remain in our dream.
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