11 Things to Buy If You Want to Be Rich – Do you think being rich is about earning a lot of money? Well, it sure is, but it’s not the only thing. In fact, spending wisely is key to accumulating wealth. Seems counter-intuitive, right? Well, some purchases seem too expensive at first glance, but they’ll save you a lot in the long run. So let’s see what millionaires recommend to buy to take you to the top of the financial ladder. By the way, there’s a bonus for you at the end of the video, but it will only make sense if you’ve watched it all.
1. A good car
First, let me make it clear: by “good”I don’t mean “expensive. ”Buying a luxury car when you have the money is tempting, but remember that the cost of maintenance is directly connected to the price of the car. A cheap one, on the other hand, may have unpleasant surprises in stock for you. So opt for a car that’s easy and cheap to maintain, has never been in a serious accident,and will serve you for years. This way, you’ll always have the freedom of movement while not paying extra for cleaning that super-comfy leather interior. Or just buy a bike instead!
2. Reasonable subscriptions
Do you really often watch that cable TV you’repaying every month for? And do you actually need that 1 TB storage space in a paid cloud service?If your answer is “no” to both, then you’re coughing up way too much money for things you don’t even use to their fullest. It’s best to only subscribe to services that you know you need. It’s a good idea to pay for a TV service that features your favorite shows without the auxiliary stuff, or buy a bigger hard drive once than pay monthly fees for a cloud.
3. Discounted goods
The most surefire way to get to wealth is being thrifty. Discounted doesn’t automatically mean bad: discounts are usually just a marketing move to get you to buy more of something, while it’s still sold at a price that is favorable for the store. Buying groceries for full price, at the same time, doesn’t guarantee better quality. So if you need a carton of milk and you see a discounted one, go ahead and take it! Just make sure to check its shelf life: it might be that the price has been cut because it’s soon to expire.
4. Quality clothes and accessories
While discounts are good for grocery shopping, clothing items and accessories are best bought for full price, and not a small one either. Now, I’m not talking about designer clothes, where you overpay for the brand, but buying cheap wear is, at the end of the day, a waste of money. See for yourself: cheap clothes and footwear mean they’re made of cheap materials and have low quality.
And that, in its turn, means that they’ll serve you for a single season at best, and you’ll have to buy new ones again. Expensive clothes, on the other hand, are more durable, and if you take care of them,they’ll last you at least a few years. In the end, you’ll save yourself both money and, more importantly, time.
5. Coffee machine
I get it: not many of us can get ourselves together without a dose of morning coffee. But the thing is, do you go to a coffee shop on your way to the work or school, or do you brew your own stuff at home? It may seem that buying a cup on the go is easy and doesn’t really take a bite out of your wallet, but if you do some math, you’ll see how deceptive that feeling is.
Buying your own coffee machine may be expensive, but it’ll pay off in just a couple of months. On top of that, isn’t it better to sip the black goodness from your own mug while sitting in the comfort of your home, rather than gulping it down while walking up the street? So there.
6. Smart tech for your home
We’re living in an ever-improving technological environment, and it’s not a clever move not to take advantage of it. Smart technology makes your life easier and more controlled, allowing you to focus more on yourself and getting the important things done, rather than trying to recall whether you turned off the iron before leaving home or not.
A couple of clicks and swipes, and your dinner is being cooked, your laundry is being washed, and your house is being cleaned by automated devices, while you can go about your own business, carefree.
Self-improvement is key to becoming a better version of yourself and, therefore, a wealthy person. Focusing on money itself won’t lead you to wealth. After all, it’s your own skill and professionalism that lets you earn more. So invest in it! Take a new course, read a book on an unfamiliar topic, meet new people and learn from them. The more you spend on your own education, the better your chances of landing a good job or becoming a valuable freelance professional.
This is a more sophisticated thing to invest your money in, but in the end, if you’re diligent and wise, it’ll pay off hundredfold. There are lots of startup companies that invent unusual and innovative things, and if you spend some money on buying their shares, you might get incredibly rich when they achieve success on the market… or not. The biggest trouble with purchasing startup shares is that you never know whether the company you’re betting on will skyrocket or go bankrupt. So think it over carefully and weigh your chances of a good bet.
9. Later versions of electronics
I think I need to explain this in a bit more detail. Whenever a new product appears on the market, its version is by default 1. 0. If you buy it immediately, chances are you’ll have to deal with bugs and glitches that haven’t been discovered during the testing phase. And it doesn’t only concern smaller companies — large and renowned enterprises with a perfect reputation can be guilty of same. It’s best to wait a bit until at least version 1.1 is out — more often than not, most of the flaws from the original version will be gone with the update.
10. Rest and recreation
All work and no play makes Jack a dull boy— this proverb makes a lot more sense than you might think. Working, learning, and creating opportunities for yourself is awesome, but having quality rest is no less important, otherwise you’ll simply burn out, even if you sincerely love what you’re doing. But don’t get me wrong: I’m not talking about simply lying on the couch with popcorn and watching TV shows passively.
Invest in your leisure as you would in your education and use your me-time to your advantage. Never let an opportunity to learn something new pass by you. Just don’t focus on these things too much — after all, it’s entertainment and rest you seek, not another duty.
11. Things that will last you a lifetime
I’ve already talked about quality clothing,and this is a related topic. Quality stuff is expensive, granted, but what you can get out of it is worth that and a hundred times more. Whatever you buy a car, a laptop, or a fridge, think of it as a long-term investment.
Will it serve you for many years or even decades, or are you going to replace it after a short while? If it’s something big, I bet you don’t want to go through the humdrum of purchasing and delivering it once more for some time. Again, buying cheaper items doesn’t always mean saving money in the long run. So better spend some more now and forget about it for a long time.
And a little bonus for you if you made it this far: one thing you should never spend your hard-earned money on. Well, I say “one thing” but that’s, in fact, many things at once. To become rich, you shouldn’t buy anything that makes you indebted. Now, I’m not talking about your student loan or stuff like that, of course, that’s another matter altogether.
But if you need to overdraw your account to buy a new car or take a mortgage to buy anew apartment, it’s best to think twice before that. Taking a loan means using bank’s money, not your own, and you’ll have to return it with interest. And taking too many loans will make you work to pay someone else every single month for years. You’ll basically find yourself in a vicious circle where you live to pay.
Do you really want that? Didn’t think so. Well, kiddo, what about you? What things do you think you should buy to become rich eventually? Let me know down in the comments.