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Video 7 Main Differences Between Rich and Poor People

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  • You're going to want to check this out seven differences between rich people and poor people
  • Not every rich person is born into a wealthy family
  • So, how do so many
  • well-off people reach their financial goals?
  • A major difference between rich people and those who have money problems can be found in the way they think, act, and see the world.
  • But before you learn about the seven things that many affluent people do differently from the rest of the world,
  • pay attention to the big red subscription button. As soon as you click it,
  • you'll be taken to the bright side of life where you'll find hundreds of videos.
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  • Alright, let's count down from number seven.
  • Look at these guys. One of them is rich. The other is poor. Can you guess which one is poor and which one is rich?
  • Well, you might think that the wealthy one is the guy wearing pants from a famous designer.
  • Expensive jewelry and a haughty smirk, right?
  • Nope, this guy is just trying to look rich but those who have money don't always flaunt their wealth!
  • It may sound surprising but there's no real need to buy a pair of thousand-dollar jeans if you can find a high-quality product that's ten times cheaper.
  • Wealthy people understand that and follow this strategy and this doesn't just apply to clothes.
  • On top of that most rich people don't blindly follow the latest fashion trends or buy up new
  • collections just because they're popular today.
  • They realize that this isn't the best financial investment,
  • and even more importantly, they don't feel the need to prove anything to anyone else.
  • As for people with less money, some of them just like our guy are often eager to buy something that is trendy today.
  • But at the same time this product often costs a fortune.
  • After such a purchase those who don't have the mentality of a rich person,
  • often have to save on buying food until they get their next paycheck.
  • There's a lot of truth in this statement.
  • There are three kinds of people in the world: The Have's, The Have-not's, and The Have-not-paid-for-what-they-have's.
  • While some rich people may pick cheaper, though still high-quality clothes, over trendy items at an exorbitant price,
  • there are things they don't save on.
  • Perhaps you love coffee you can't live without drinking a cup or two a day. At the same time,
  • you believe that a coffee machine is too expensive to purchase.
  • Well, let's do some math. You pay between two and five dollars for a cup of coffee.
  • Okay, let's take 3.50 as the average price.
  • If you buy at least one cup of coffee every day, this turns into about
  • $1,300 per year. Uh oh..
  • Why didn't we figure this out earlier?
  • At the same time, a good coffee machine costs no more than $500. Isn't that an impressive difference?
  • An induction stove costs twice as much as their electric fellows,
  • but don't think that wealthy people only offer induction stoves to make their kitchen look cool.
  • The reason is that
  • induction stoves are extremely efficient and almost 90 percent of the energy produced goes into heating your food.
  • As for electric stoves their efficiency is only 70 percent gas stoves are the least effective. Only
  • 40 percent of their energy is spent on heating food.
  • One more benefit of induction stoves is that your meal is ready more quickly and therefore less energy is consumed.
  • Despite having many advantages LED light bulbs are still not that popular. The reason for this is their high cost
  • But let's look at some numbers an LED lightbulb is eight times more expensive than a regular
  • incandescent bulb. On the other hand, an LED bulb consumes ten times less electricity, and while your ordinary light bulb works for a maximum of
  • LED bulb consumes ten times less electricity and while your ordinary light bulb works for a maximum of 1,000 hours,
  • an LED bulb has a service period of between 10,000 and 25,000 hours.
  • This means that an LED light bulb is approximately 7 times more
  • economical than an ordinary and cheap incandescent one.
  • Most people prefer not to overpay by buying
  • energy-saving glass. After all, a window with such glass costs 50% to 80%
  • more than a window with regular glass, but there's one thing you should take into consideration before making your final choice.
  • 40% of the heat generated inside your home is lost thanks to low quality windows and
  • with the money you spend on heating,
  • it seems a bit unfair to have so much energy heating the outside of your house.
  • As for energy saving coating, depending on its style,
  • it can reduce the transfer of heat through the glass by 75 to 90%.
  • Now you can calculate how much money you could save by having those advanced windows.
  • The great thing is that energy-saving glass works for keeping your home both warm and cool
  • At first, it might seem that the mechanism that regulates the temperature of the water with preset settings is an unnecessary extra.
  • This gadget also cost three to four times more than an ordinary faucet. On the other hand,
  • a thermostatic shower faucet will start saving you money right away.
  • You won't have to spend ages trying to get your preferred water temperature. In addition,
  • you'll be able to turn off the water while you're lathering and it will be the right temperature when you turn it on again.
  • Wow, is this how rich people's brains work, but wait it gets even better.
  • Both poor and rich people work hard to earn money,
  • but rich people know how to make their money work for them. They don't keep their income and savings accounts,
  • they have funds in their budget that they can invest and they do this regularly. Rich people
  • sometimes have to sacrifice good shopping to invest money and receive much more at a later date. That's called delayed gratification!
  • As for the less wealthy, they tend to spend all their money.
  • This places them in a very unhappy, vicious, circle; they work hard and they spend money,
  • then, they take another job to be able to spend more, but it's still not enough. The more they earn, the more they spend.
  • They start working on the weekend, and their life turns into a constant race of futile attempts to earn enough.
  • One more thing that makes most rich people stand out is their ability to manage money.They know their budget, they don't overspend.
  • If they use a credit card, they do everything to avoid paying finance charges.
  • For people on the contrary, often live in a world of credit-card bills.
  • Most of them don't keep track of their money or plan a budget.
  • They spend money and when it's all gone, they tend to use credit cards.
  • Another thing that can differentiate the rich from the poor is the way they think.
  • The reasoning is it will be a success because I will make it a success.
  • They take responsibility for their actions and decisions and are ready to go to any lengths to achieve the desired results.
  • As for poor people, they usually focus on the obstacles; new beginnings may bring
  • potential losses and the risks they'll have to take.
  • Rich people are fighters. They are willing to overcome obstacles to achieve their goals.
  • They realize that you can't win without taking risks.
  • But they don't think about difficulties and losses; they concentrate on their target and they get there.
  • For people on the contrary, try to avoid risks by all means as they are afraid of losing their money.
  • That's the reason why they might opt for such safe investments as savings accounts and deposits.
  • There's probably no human being on earth who is completely fearless.
  • But rich people choose to face their fears to become a more successful and powerful individual.
  • They prefer their comfortable and familiar routine to facing something unknown and potentially risky.
  • As a result, this prevents them from getting wealthy.
  • Tell us in the comments below
  • Also remember to press the like button so that we can make you happy with more informative and useful videos. See you next time!

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Description

How to Become Rich. Not every rich person is born into a wealthy family, so how do so many well-off people reach their financial goals? A major difference between rich people and those who have money problems can be found in the way they think, act, and see the world. Check out these 7 differences between the rich and poor and use them as your own financial tips to become rich.

TIMESTAMPS
Rich people don't try to show off their wealth. #
Rich people invest money in certain expensive items. #
Rich people make their money work for them while poor people work for their money. #
Rich people know how to manage their money. #
Rich people see opportunities while poor people see obstacles. #
Rich people concentrate on what they want to achieve while poor people focus on what they want to avoid. #
Rich people face problems while poor people try to ignore problems until it's too late. #

Music: Andrew Huang - Club
https://www.youtube.com/audiolibrary/music

SUMMARY
-Those who have a lot of money don’t always flaunt their wealth. It may sound surprising, but there's no real need to buy a pair of $1,000 jeans if you can find a high-quality product that’s 10 times cheaper.
-Things rich people don’t save on are: coffee machine, induction stove, LED light bulbs, energy-saving glass, thermostatic shower faucet.
-Rich people don't keep their income in savings accounts; they have funds in their budget that they can invest, and they do this regularly.
-Rich people don't overspend. If they use a credit card, they do everything to avoid paying finance charges.
-Rich people see opportunities for growth and success in everything they do.
-The rich are willing to overcome obstacles to achieve their goals. They realize that you can’t win without taking risks.
-Rich people choose to face their fears to become a more successful and powerful individual.

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Keywords

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