17 Money Lessons The Rich DON'T Want You to Know

The top 0.1% have been gatekeeping the secrets to wealth for generations.

But, in the digital era, they won’t be able to keep their secrets for much longer.

Slowly but surely, the tide is turning, and we’re learning the ways of becoming wealthy.

Here are 17 money lessons the rich don’t want you to know.

Don’t Hate Money

If you fail to respect your money, it will soon fall into the hands of somebody who does.

Money so often eventually ends up in the hands of a billionaire.

Learn to respect the value of money, and you’ll have no option but to begin using it to build for your future.

Never Take The Path to Wealth Alone

Your network is your net worth.

Connecting with other people who want the same success as you, will elevate you to new heights.

Acknowledge the power of synergy, and that people who work together will achieve a lot more than if they worked by themselves.

Don’t Drown in Debt

Banks and lenders make money every day through people’s inability to control their spending.

Debt with high interest rates will bleed your bank account dry.

Don’t become the bank’s passive income.

Try to avoid borrowing money at all costs.

Prioritising Your Image Will Ruin You

• The financed car

• The designer clothes

• The maxed out credit cards

There’s no point looking successful if you’re going to spend your whole life working a job you hate.

Like Tyler Durden once said…

The things you own, end up owning you.

Put yourself first, and work towards getting rich, not just looking the part.

Embrace Delayed Gratification

What you’re willing to sacrifice today, will help you build towards a better future.

Those who can delay their gratification the longest, will end up in the best position in life.

Start Investing Today

You must build wealth through the ownership of assets, not the ownership of cash.

Take advantage of compound interest by starting to invest as soon as possible.

You don’t need to time the market.

You just need to get through the door.

Never Stop Learning From Those Above You

To get rich, never stop learning for the people who have already done what you wish to achieve.

• Warren Buffett

• Elon Musk

• Robert Kiyosaki

• Jeff Bezos

Spend your time consuming educational content, instead of ruining your attention span by doom scrolling.

Disposable Income is Everything

The difference between your income and your expenses is called disposable income.

It’s the best measure of a person’s wealth, and their ability to build a better life in the future.

The more of this you have, the more you can put towards investing & building a business.

Don’t Succumb to Societal Norms

• You don’t need the financed car.

• You don’t need the white pickett fence.

• You don’t need the all inclusive holidays.

If you want generational wealth, you have to go above and beyond the ordinary.

There’s Always an Opportunity Cost

When you decide to buy one thing, you give up the chance to buy something else.

Always remember that.

Your future self will thank you for sacrificing the option that will only provide you with a quick dose of gratification.

Income is Important, But Habits Are Vital

How much you’re bringing in each month is crucial.

But, your spending habits are easier to change.

Check what your spending your money on, and you might be able to find quick fixes to help you keep more of your money each month.

Bad money habits might be hard to fix, but overcoming these is a huge step to financial success.

Hold Yourself Accountable

A lot of people love blaming others for their misfortunes, but end up achieving nothing in life.

• Parents

• Boss

• Teachers

• Friends

• Government

Nobody is more responsible for your situation, than you.

Spend Less Than You Earn

Like I said, disposable income is everything.

You can’t build wealth if you’re living pay check to paycheck.

Work on making the difference between your income and your expenses as big as possible.

It’s this number that will determine your financial success.

Money Will Buy You Happiness

If someone ever tells you that money won’t buy you happiness, they’re lying to you.

The key is knowing what to buy.

Material goods won’t make you happy.

• The sports car

• The designer clothes

• The expensive jewellery

Use your money to buy yourself time. Spend your time doing the things you love.

This is how money makes you happy.

Cash is Not King

But, cash flow is.

Inflation will stop you from building wealth with fiat currency. You need to start investing into assets.

• Stocks

• ETFs

• Real Estate

Not cash.

You Need Patience to Get Rich

Building wealth doesn’t happen overnight.

Patience is an invaluable trait if you want long term success.

Don’t compare your first chapter, to somebody else’s 30th.

Pay Attention to Your Spending

Nobody likes being cheap, but you still have to be smart with your money.

Don’t waste it.

Either make a budget for your spending, or put yourself in a position where you know the details of your finances so well, that you won’t need to budget.

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