30% have debt in real estate only. Rich folks don’t owe money. It’s not because they are rich that they don’t owe money it’s because they are debt-free.
If you’re going to copy someone, duplicate their philosophy including everything. Most rich folks will tell you that owing money is stupid because you waste so much of it on interest.
Rich people are generous. You can’t be generous when you owe money.
Rich people drive older cars. Rich people do not try to live like they are rich, they already are.
Rich people tend to work hard. They tend to be self-employed. Rich people don’t tend to trade dollars for hours. But, if they do trade dollars for hours they do it with a positive cash-flow. They tend to live below there means. They tend to view their income from this stand-point:
It’s not how much you make its how much you keep. If you make a hundred dollars and spend $90 dollars you get to keep $10.
People in debt tend to make a hundred dollars and spend $110. always getting further behind and always wishing they had more instead of spending less.
Well to do people buy when have the money. They don’t borrow money to buy something. If they don’t have the money they don’t buy the item.
It’s all about your attitude. Get the right attitude and you’ll have money.
David Dassow
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