Some people are born wealthy or luck into large sums of money via inheritance or other means. For the vast majority, building wealth is not easy. For most of us, generating wealth takes discipline and hard work and it is important to avoid mistakes and pitfalls. Discipline is also an important factor. Sometimes it’s not how much you make, but how much you spend and how well you manage what you have left. With that in mind, here are 10 things that you should never do if you want to be rich.
1) You Don’t Budget
Holding on to money requires knowing how to disburse it responsibly. Being rich often demands that people budget. If you are debating going to the grocery store versus ordering pizza every night, then the money smart option would be to grab a week’s worth of fresh veggies and whole grains and learn how to cook. While going out to eat is far more convenient and less timely than staying in and preparing a nice meal, it is also far more expensive. Budgeting means making the most beneficial decisions with your money for the long haul. Set aside a designated amount each week to spend on restaurants and new clothes. Keep the rest tucked away and forget it is even there.