You must have have heard of this advice a million times already, but I'm going to repeat it to
With this in mind, what do you think first when you hear the word "rich"? I used to think that being rich is an unattainable status. Growing up in a middle-class family, I was raised to think that it was virtually impossible to be rich and that only a few "chosen" people can be rich.
However, as I grow up, I began to discover a new definition of being rich. Unfortunately, this definition still entails hard work, the same hard work required by my old definition of "rich. Fortunately, though, I discovered that the mindset that it was impossible to be rich is untrue. In my opinion, everyone can be rich in life.
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| Photo credit: www.tourism.gov.ph |
1. For me, a rich person is someone who is content with what he has and does not have to look at another person's possession.
I only have an entry-level Android phone, but it works just fine. To be clear, I didn't buy it because it's the only thing I can afford; instead, I bought it because it's the only thing I need. I also work full-time as an online essay instructor, but what I own is an Acer laptop instead of a Macbook. I also blog regularly, but I didn't buy an expensive DSLR to take photos.
My point is that I don't need to buy the most expensive stuff to get on the level (or go beyond the level) of my peers. I'm secure in what I am, so I don't need to establish my worth through my possessions. Which brings us to the next point...
2. A rich person is also emotionally secure and does not depend on material things to validate himself.
Honestly, this is still something I need to work on. I think I have a low EQ when it comes to bags. Gadgets I can ignore, but I find myself browsing eBay for bags late at night, and I have a pretty hard time debating with myself. Unfortunately, it is not always the frugal one who wins. Aside from bags, I also have very low self-control when it comes to baby stuff and interior decor.
In other words, I still need to work on avoiding shopping and buying stuff to celebrate! A little shopping is healthy, though, right?
In other words, I still need to work on avoiding shopping and buying stuff to celebrate! A little shopping is healthy, though, right?
3. Finally, a rich person is someone who can face any unexpected event, whether welcome or not, without having to worry because he is prepared.
This is the most important factor, I think, in the journey to becoming rich. A lot of people might boast their gadgets and wheels, but would these pay for an emergency? Some may say they can sell that stuff, but those things' values depreciate: would they really amount to something?
In my opinion, a rich person would never have to resort to doing such a thing. This is because a rich person has already an emergency fund and would not buy anything that doesn't grow and is considered a liability. In the case of an emergency, a rich person is secure and doesn't have to worry about not being able to pay the bills.
In my opinion, a rich person would never have to resort to doing such a thing. This is because a rich person has already an emergency fund and would not buy anything that doesn't grow and is considered a liability. In the case of an emergency, a rich person is secure and doesn't have to worry about not being able to pay the bills.
Image: biblia.com
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There we have it! These are my definition of rich. I am not everything I mentioned above (obviously), but I am surely working on it. How about you? What is "rich" for you?
This post was originally published in my old, defunct finance blog.
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