Number 4 :
They waste massive amounts of money trying to impress others .
The “ keeping up with the Joneses ’” cost the middleclass billions a year . Constantly upgrading their clothes , watches , cars , and homes to impress people who don ’ t even care .
Remember this point : “ Dance like no one is watching . They aren ’ t .” This is very true . They just don ’ t care . They have their own lives and problems to worry about . They don ’ t care what kind of car you drive or where you live . Stop trying to impress others . It is a waste of time and money .
Number 5 : Buying toys first and assets second .
The middleclass has it backwards . The say this to themselves . “ I will buy all the things I want first , and then I will start saving and investing .” It doesn ’ t work . By the time they buy the clothes , watches , cars , and houses , they are living paycheck to paycheck . There is no money left over to save and invest .
The people who end up wealthy buy assets first , and with the profit from these assets , they buy the toys .
I have never made a payment on my boat , Ferrari , or beach house . My assets pay for them .
Number 6 :
much , but you are still living paycheck to paycheck . Where did that other money go ? Lifestyle creep .
When you got your first raise , you decided to buy your first home and took on a mortgage way higher than your apartment rent . You got your second raise and now you needed a nicer car , maybe a BMW .
You got your third raise and now your kids are not in the right school district , so you must buy a more expensive home in a nicer subdivision .
Are you starting to see what ’ s happening ? Every time you get more money , you are spending it to improve your lifestyle leaving you continually living paycheck to paycheck .
These six things combine to keep the middleclass in the middleclass . It is a sad situation , but it can be solved fairly easily by stopping the madness .
Be aware , I did every one of these things at one time or another and I turned my life around very quickly by stopping . You can too .
MEET STEVE DAVIS , CEO and Lead Consultant Host of the TWA Real Estate Investor Radio Show
They fall victim to lifestyle creep .
Do you remember in your 20s and 30s when you made very little money and lived paycheck to paycheck ? Of course . You didn ’ t make much money , so it makes sense .
However , it is 20 years later , and you are making 3 times as
You can find out more about Steve and Total Wealth Academy at www . totalwealthacademy . com . They offer a free sample class for you to try out . You can also find Steve ’ s radio show schedule and podcast past shows . If you have a specific question for Steve , you can email him at steve @ totalwealthacademy . com .
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