Right off the bat, let’s start off by diminishing the idea that “wealth” is a synonym for “rich”. Now yes, wealth can be voiced as the ability of having an abundance of valuable possessions or money, it can also be presented as the state of being rich, to have material prosperity and plentiful supplies of a particular resource but I would like to invite you to take a different approach here.

Wealth, generally measures the value of assets one can own, that one can be a person, a business, community, country, etc. Basically, wealth is the accumulation of scarce resources or goods. Again, the ability to accumulate scarce resources or goods, and the most unique, most extensive and expensive symbol of wealth you can have with the power to gather facts, information, and skills acquired through experience or education is KNOWLEDGE. A robber can break into your house and take your property or belongings that are tangible, your material possession and walk away, but one thing they can NOT take or acquire is your KNOWLEDGE. The information you learn, read, study for, the understanding and comprehension you have of life, nobody can take that away from you, that is your most valuable form of wealth! The more you read, the more you study, the more you know will contribute towards a life of greatness, will contribute towards your financial aspects, your hobbies, your house and family and goals.

In society, net worth is the most common measure of wealth, and is determined by taking the total market value of physical and intangible assets owned, and then subtracting all debts – hence me saying “wealth” is not the same as “rich”. You see, you can be rich but not be wealthy at all, wealth is a smarter approach into what to do with your money, how to treat your investments, someone can be “rich” without being wealthy, now if you’re wealthy you most certainly are rich, and I’m not talking specifically about money, I’m talking about having a rich mindset, that’s what will move you towards your goal and that’s what will help you achieve them and realize your dreams. Let’s make a quick comparison in between the “Rich” vs “Wealthy”:

THE RICH:

• Clearly earns a lot of money

• Lives in an unconstrained lifestyle

• Doesn’t have to worry about saving money

• Will spend money on depreciating assets

• Likes to impress people around them

• Not prepared for the long-term

• Often lives in debt

THE WEALTHY:

• Will build long-term wealth

• Mindful of how much money is coming in and out

• Buys appreciating assets

• Typically doesn’t have debt

• Lives well below their means

• Lives a well-proportioned lifestyle

• May earn less than “The Rich”

• Makes smart investments

• Not concerned about impressing other by buying meaningless things

• Will save and invest a percentage of income

You see, wealth gives you a sense of security. The philosophy behind it is the more money, savings and investments you have, the more secure and comfortable your future will be. Put in to an example: the rich can me making 10k a month and spending 11k monthly, constantly drowning themselves deeper and deeper into debt while the wealthy are making only 5k per month while being smart about it and not only restraining themselves from meaninglessly  buying unnecessary things but also saving and investing cleverly bringing them into a profit of 1.5k a month. I don’t know about you, but I would much rather be the “average” person making 5k and bringing home 1.5k profit instead of straight up having a debt of 1k a month – who’s the rich now?

As I have mentioned before in other articles here, I am just like you or any other friends of yours, a common civilian with the mission of doing good by others, to help and motivate whoever is in need, I still have a typical job from 9-5 and I treat this as my part time job during my free time. I strongly believe it is important to, I don’t want to say educate others, but REMIND you that the choices you make now are what is going to build and shape your future.

I come from a simple family, and I am a simple man myself, my mom used to say to my younger brother and I “if you don’t know how to save your money when you have “little” you will never know how to save your money when you’re making big. I don’t care if you can only save $20, $50 or $100 every paycheck, as long as you’re saving you’re on the right path.”

Building wealthy habits is a very important thing, start now so then you can learn how to administer your money in future, start little, grow big. Acquire knowledge, read books, seek understanding, your “little” can turn into a huge investment in the future. We are all chasing freedom or independence in life, the opportunity to make the most of our skills and knowledge, the ability to pursue our objectives, goals, and our own course in life is fundamental. Seek financial security! Again, this is just an introduction into a new lifestyle I’m trying to present to you, now it’s up to you if you want to change and follow a new and more disciplined structure or not. All I can do is try and motivate you, I can push you forward (I would if I could) but you are the one who has to take the initiative of taking the first step. Acquire KNOWLEDGE, I can’t stress how important that is in order for you to be wealthy, work on yourself, build your path and achieve goals not only by dreaming about them but also by bringing them into reality. If you’re only dreaming about your financial goals, that means you’re SLEEPING, so wake up! Go get things done, because once you start seeing those milestones coming through you won’t want to stop, build strong and wealthy habits, I know you can do it if you put your mind to it.

-Live your dreams and work hard, never give up!-