How to not get rich


Recently, I read one of the very best articles I’ve ever read on how to not get rich. It’s a bit challenging, of course, and is mocking a bit of mistakes you can make that make you never get rich. And all are very good ones, in my opinion.

The article in its entirety can be found on Business Insider. I’m not going to go through all the ten tips, but they are well worth reading. Instead, I will comment on the most important of the advices. There is no doubt tip no 2, something I’ve written articles about earlier. You can save how much you want, but as long as you do not focus on making more money, it will take a very long time to become wealthy or financially independent, or whatever your goals in life are.

I know there are different views on this, but if you do not have any income, there is also nothing to save. If you earn 10,000 a month, you never can save more than 10,000, which would mean you actually live off someone else. If you earn 100,000 a month, you can save and invest more of course.

This does not mean you should not be in control of your costs. It’s incredibly important, but it’s actually more important to focus on earning money. The more income streams you have, the better. Another of the tips in the list is about your salary. Are you “just” satisfied with the flat rate increase negotiated centrally, you have missed your chance of increasing your income. Never be satisfied, strive on and make sure you’ve always set the goal of earning more money.

In addition, regardless of whether you are saving or earning money, you should use every single crown. Save and earn to invest, let every penny work for you and you will soon discover that you are well on track to be … just that – rich!