Definition of rich is literally and simply that of do you work for the money or does the money work for you. Being rich isn’t defined by the amount of money you have, but by the way that you are using the money what you have. In the way you think about the money is the way you use the money.
Being rich is mindset and behavior of money use.
Rich people do not work for the money, they make money work for them.
To make money work for you, you have to recognize few essential terms. First there is income, which is all the money that is coming in. Then there are expenses, which are all the money that are going out of your pocket.
Next two are a little bit more difficult: assets are all the things you own that bring you income (after expenses). Liabilities are all the things that cost you money time and time again.
Essentially becoming rich is about acquiring assets and getting rid of liabilities. Once you have enough assets you have regular income, which is called cash flow. When you have sufficient amount of cash flow per month, let’s say 2000 € and your liabilities are at zero you are pretty well covered.
In order to get and create assets your greatest asset is your mind. Invest in yourself and your learning.
“Study hard so you can find a good company to buy.” – Robert Kiyosaki, Rich Dad Poor Dad
I might add work and study hard in order to find or create a good company to buy.
What ever you are doing in your life, do it to learn more. Do not let the money entice you, remember who is the master and who is the servant. Money is your servant and you are the master. Therefore always work to learn.
Always speak kindly of the money as well. Money will come to those who will speak kindly of it. Who would like to work for a bad master?
As you learn all the time quicker and quicker. You’ll learn creative ways to create more money out of nothing. This is where all your learning is aimed at.
At first you’ve little or nothing and you are not asking for any money. You are not asking for any money, because you are not the servant of money. You are the master of money who is learning the ways of the money. The more you learn the ways of the money, the more you’ll make the money work for you. The more you master money, the more opportunities will come to your way.
Remember: be the master of money. To master money, you’ll need to learn, learn and learn. Learn everything about the money and speak kindly of it. Perhaps some money will come to your way and you will be grateful for it. For now you know, it will work for you as long as you’ll remember to take good care of it.