12 Things Rich People Don’t Do (That Poor People Do)

hey guys it’s practical psychology and in this video primed and I are going to be teaching you 12 things that separate the rich from the poor spending money before paying themselves and this is a common approach among poor people and the first thing they do once they’ve earned money is suspended that sweet paycheck is going towards paying everyone and everything else before paying themselves another pair of sneakers will fit right into that already full shoe rack that holds perfectly wearable shoes and saving and investing is only an option if there’s any money left once the next payment has come which rarely is the case so what rich people do once they’ve earned money is to pay themselves before they pay anyone else their actions are the opposite of most poor people and when they have saved and invested their money before anything else that’s where they buy other stuff and investing continuously over time will create that powerful compound effect and eventually the returns of their investments will be enough to buy new sneakers every single month I suggest following the principles of the richest man in Babylon and invest at least 10% of everything you earned before spending money on anything else it ensures investments every month and allows you to still use 90% of the money as you normally would number to wake up late waking up late is one of the privileges of the rich but they make sure not to abuse it see if you analyze almost every businessman who has ever started a business they didn’t get it handed to them and they didn’t get it by spinning their weekend on their friend’s yacht rich people understand the value of their time and how waking up before everyone else exponentially increases their chances for opportunities now there’s a difference between waking up late and sleeping more so don’t get them confused waking up late means waking up when everyone else is having lunch or even after they’ve had breakfast poor people do this especially on their days off and the weekends which people don’t they work I’m not saying you need four hours of sleep but just go to bed earlier so that you can wake up earlier there’s a huge psychological boost of power when you get up an even an hour earlier while everyone else is snoozing remember that the rich wake up early while still getting seven to eight hours of sleep while the poor wake up late sometimes getting even less sleep for me I’ve been getting up at 5:00 a.m.

For a couple weeks and I found a huge boost in my productivity and motivation also there’s less distractions when you’re up at 5:00 in the morning there’s a reason for you haven’t seen any Lamborghini or rolls-royce commercials on TV because the people who are reaching after for those cars don’t spend a time watching TV it’s one of the most destructive habits there is because it’s so easy to fall into that comfortable spot in the couch and lose track of time and a few years back I used to have a habit of getting home from school and the first thing I did was to get comfortable in the couch and watch useless TV shows that didn’t bring anything of value to me however I found a solution for that when I moved away from home and into my apartment and I figured that bringing a TV in will be a bad decision since it’s only purpose is to get me into lazy habits and steal my time so at the moment I don’t own a TV and to be honest my productivity has skyrocketed since and it’s been one of my best decisions I realized what most successful people realized long before me that the most precious asset is not money but time another common theme among poor people is that once they are finished with school they don’t open another book again the learning is officially over and because they are now able to make money when they get a job learning and improving their skill set is no longer a priority this is also the very same reason they get stuck in the same routines without progressing in their career or in their personal life which is also a reflection of their income that is only increasing in the same rate as inflation compare that to the highly successful and rich people who put a consistent effort into investing in themselves because they know it’s the greatest investment of all once they understand the concept of providing value and making money it doesn’t matter if they go broke from a bad investment they can lose it all and still have the confidence and ability to earn it back because the true treasure is not out there but in their own capabilities they simply learn from the bad experiences and instead use them as valuable chunks of information to move forward with and instead of fearing the risk of failure and turning around the obstacle becomes the way to success if you are to invest in anything do so in yourself by getting books courses and attending seminars in order to become more valuable and consequently earn more from it poor people don’t take enough responsibility for their failures there are always someone or something to blame due to the lack of their success they are terrible when it comes to criticizing themselves environment the police party the way they were raised is a reason for why they can’t make it but never their own fault poor people never make mistakes they’re just unfortunate there’s nothing they can do to fix it so might as well spend the money to down a few beers and get drunk every weekend and twice during the weekday the mindset of someone who’s rich is the complete opposite rich people blame themself most often more than fair when things don’t work out as they wish they know that if they hold themselves accountable for creating the problem then they are in full control to create a solution for that problem and can also make sure to not repeat it in the future they adopt to the environment or political party because they have to they know they are powerless to change any of that and instead of focus or energy on what they can control and how to adopt to somehow benefit from it number six is not having any money saved so if you didn’t get your next paycheck or any income after that would you still be able to remain with the same expenses for three months the rich are always prepared for the hard times in fact it’s said more than 90 percent of Americans don’t have more than $1,000 worth of savings do you know what they’re relying on they’re relying on their next paycheck or their credit card which is basically a type of loan if there was a huge crash almost every poor person with panic but the rich would be able to seize the opportunity remember that when the markets crash when things seem bad and everyone else is freaking out it’s the perfect time for you to take advantage of an opportunity that nobody else sees if you’ve ever seen the movie The Big Short you know while millions of America’s lost tons of money and some even their whole homes there were a few super smart people who became billionaires because they predicted the crash and short of the market so you need money saved for three main reasons one to help when times get tough and money is slim two to seize opportunity when it is there and you need cold hard cash and three to give you psychological safety so that you can invest better the next tip is taking loans to buy things so avoid taking loans to buy new things especially when their wants save and buy if you have to if you buy a ten thousand dollar car in cash you are only paying ten thousand dollars if you make payments on the same car for five years at a four percent interest rate you end up paying eleven thousand and fifty four dollars that’s over a thousand more dollars you pay for not having the money to buy the car in the first place understand this and would buy it in full and use that extra thousand dollars that the poor paid an interest to invest in fact the rich are probably the ones that gave you the loan remember the rich give out loans and collect interest while the poor take loans and pay interest the next tip is that the poor don’t have a mentor poor people think they can do it all by themselves they don’t need help they don’t need to do things professionally and they think that they know it all the rich instead know that they don’t know that much and will hire professionals to save them time and mistakes they’ll put themselves around mentors and get as much help as possible the best way to learn is from other people see someone told me everyone learns from mistakes but there’s no rule that the mistakes have to be yours so learn from other people’s mistakes save yourself time and energy and just be humble enough to learn from someone else one thing I’ve started doing is buying online courses I bought courses on body language sales page tips psychology email marketing YouTube tips all kinds of stuff that I want to learn about and I found almost every course I bought to be a huge return on investment if someone put in the time and knowledge into making a video course they are obviously invested and know what they’re talking about so it’s worth paying $20 $50 even sometimes a couple hundred dollars to learn someone’s secrets to number nine is not to rely on one single source of income so I have many sources of income I get paid from Amazon YouTube my own video course that I sell link in the description banner ads on some of the websites I own other courses and membership that I sell I saw shout outs on my Instagram and if I needed to I could sell shout outs on this channel as well as freelance animate and write articles for other people so that’s very different from most people most people only have one source of income their nine-to-five job so what happens if this job gets replaced by a robot or the company that hires them needs someone with more education no more job and they are forced to find another job or take out more loans to get more education the rich have more than one source of income and the poor don’t even know how to make more income sources poor people don’t have a defined purpose in their life and 10 CS drifts around not knowing what they want even the best pilot flying the fastest plane will drift around wastefully if they don’t really know where to go they all want to be rich but they don’t want to put the work in to get there rich people have often become that way because their pursuits on major purpose in life with an intensity without quitting even if it meant bankruptcy or a divorce having that great purpose in life creates persistence and you will want to work towards it every single day which over time will give huge results the rich don’t see the work as a sacrifice which most poor people do but they’d rather become addicted to the sensation of making progress and getting closer to that vision every single day the next thing is that the poor only sees short term rewards and instant gratification so are you looking for a get-rich-quick scheme playing the lottery or gambling are ways to do this but you’ll also end up like everyone else who does the same broke one year later see the rich learned that managing money is a skill and it also must be learned just like you couldn’t make a five-course meal if you tried to right now you would also horribly fail if you were given a large sum of money it takes time and the search for knowledge to learn how to make off great five-course meal along with growing your Millions so the poor are searching for instant gratification ‘he’s buying toys here new technology there and give up after two months while the rich want to keep learning buying investments and persist at something until they are sure that it’s the idea that’s not working not their skills physical health has a direct effect on the brain that will give you a mental edge which is something most rich people take advantage of not only do the exercise regularly but you tend to each much healthier food for the rich junk food is seen as a last resort and not to celebrate that is Friday and the paycheck just came in the high sugar and low nutritional value foods will create more problems than they will solve in the long term and is difficult to become rich from a hospital bed eating fast food will ruin the body and your chances of performing at the peak level eating healthy it’s just a habit of rich prioritize along with exercise and again the long-term benefits is outweighing the short-term reward which is often the case in any decision rich people make and before I go off there I want to give a big thank you to one of my absolute favorite youtubers practical psychology for this collaboration and I just want to let you guys know that I’m actually a self-proclaimed expert in reverse psychology to make sure you don’t check out my channel or any of my videos

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