Want to know how do broke people, middle class and rich people spend their money? Whether you’re rich, poor or just belong to the middle class people, read this simple article to open your eyes the difference between the three type of people with regards to spending money.
We have different habits when it comes to handling money. After we’re getting paid for our work, we decide where to use the money we earned.
This article is a continuation to the question why do rich people get richer and poor people get poorer. Daily Investing Tips at InvestmentTotal.com will give you a clue how do rich, middle class and poor people spend their money.
Poor people can earn very fast, but the problem is, the money they earned will also disappear very fast. Middle class people will think where to spend their money, oh, they’re always want to make their neighbors get impressed to their new stuff out there. Rich people will get paid more and more and more because they work smart. They may make money slowly but they can make large sum of money.
Rich people will also slowly spend their money because they think and analyze where to spend their money. See the difference between the three – poor, middle class and rich people?
How Do Broke, Middle Class & Rich People Spend their Money?
- Poor People – Very Fast
- Middle Class People – Fast
- Rich People – Slow
- Very Very Very Rich People – Very Slow
Poor People Will Spend their Money Very Fast
Poor people will spend their money very fast because they are working hard for money. They work everyday and make sure they will have something to eat everyday. The money they earn each day is also the money they need everyday.
Middle Class People Will Spend their Money Fast
Middle class people love to get impressed. Whether it be a friend, a colleagues, neighbors, etc, they love to buy new stuff and show them to other people and think that other people may think they (middle class people) are rich.
Some of the stuff they love to buy cars, jewelries, new bags, new cell phones and anything they can show to other people.
Rich People will Spend their Money Slowly
Why? As I have said awhile ago, they will first think and analyze where to spend their money. They always make sure that the money they spent will make more and more money for them.
Rich people are buying income generating assets like stocks, real estate properties, etc. They will make sure their cash flow are steady and overflowing.
Poor people will spend money for their daily necessities. Middle class people will spend their money for their necessities and other stuffs (like car) while rich people will spend their money wisely as their investments. Poor people don’t know how to save and invest. Middle class people will spend their money and the excess are their savings. Rich people will invest first and then spend what is left. Now you know the difference on how do rich people, broke and middle class people spend their money. You know who should be your model. Do what rich people do if you want to be rich. Invest money, buy assets not liabilities.