Almost every person has started saving their own money at least once. Only some people become rich after that, while others continue to live in poverty, although they save a significant part of their funds.
Why does this happen? And how should you save correctly to become rich?
Is it worth saving money by searching for cheap goods and services?
A person with a poor mindset always looks for cheaper goods or services. However, such savings almost always lead a person to additional expenses.
For example, cheap shoes wear out quickly, rub your feet, which is why a person has to buy them again, buy plasters and special ointments that will help relieve pain from injuries, etc.
A rich person would rather spend money on high-quality and expensive shoes that will be useful for several seasons than constantly buy new but cheap ones. As a result, he will spend more money on cheap shoes than buying an expensive pair once.
A rich person understands what he is paying a lot of money for, so he does not spare money on it.
Such savings are future ones, as they occur not in the current period of time, but in the long term. This is exactly how rich people save, who, first of all, pay for quality, and do not look at a lower price.
Accordingly, if the product is of high quality for a small price (for example, there is a big discount in the store), then he can buy the product at that price.
Poor people will easily agree to buy a product at an inflated price to show off their status to others. This is the case when a person takes out a loan for an iPhone to show off their status, but then eats only cheap pasta or instant noodles.
How to learn how to save properly
First, you should stop looking for the cheapest goods and services. It is better to spend this time looking for new sources of income that will be enough to buy quality things, but for a higher price.
Secondly, sometimes saving is unjustified, so it is worth soberly assessing each such situation.
For example, a person wants to buy some product cheaper. It is sold on the other side of the city, where you either have to go by public transport or walk.
The weather is bad outside, so a person decides to travel to get the desired item. As a result, the money he spends on travel can increase the overall financial expenditure on a certain purchase.
In the end, it would be easier to buy this product at the nearest store, albeit a little more expensive. But then you wouldn’t have to waste time and nerves on imaginary savings.
Of course, sometimes you can save money. For example, you can hold on to a car that performs its stated functions perfectly for longer than other people. It is worth considering each financial situation separately to understand whether it is worth the money spent or whether it is better to save money in this case.
Thus, the savings of rich people are most often promising, since in a specific period of time they do not save money, but spend as much as they consider a fair price. Therefore, their quality of life is higher than that of people with a poor mindset.
Earlier we wrote about the 3 rules of rich people .
