What are the habits of the Rich? (Part 1)
September 16, 2008
So I picked up a book that was kicking around called Traditions of Wealth, which is a practical, quick-read, (and apparently hard to find) and I especially liked the chapter about thinking like the rich. Did you know that most rich people don’t actually appear rich? Sure there are some ostentatiously rich folks out there who love to flaunt their wealth, but a lot of rich people just don’t do that. I asked myself why?
Well, if you think about what it takes to make you rich, it certainly isn’t spending your money on throwaway items or really flashy, expensive stuff. To get rich, you have to develop responsible spending habits. Accumulating more stuff just doesn’t make you wealthier; it robs you of your wealth. You have to care about actually becoming wealthy more than appearing wealthy.
The book also talked about the importance of educating yourself when shopping. Specifically, it stated that you should choose items of high quality and value. In other words, choose items that will last a long time and not go down in value as quickly as its competition.
People who are rich now developed these kinds of habits a long time ago, and it became a way of thinking and living, so they’ve stuck to it. And personally, with all the garbage that flies out people’s doors these days, I think it’s also a positive way to live not only for our own sake, but for the sake of the environment too. It’s a win-win.
For those of you interested in finding the book, it’s apparently only officially available to members of The Oxford Club.
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