Assallamualaikum ...
The significant lesson that I learnt just after losing the business of selling the Theme Park tickets is "How the Rich spend their income." when I read the book that I bought earlier during this good times which I failed to read when the going was really good for me...
The month when I got the income from the above, I was spending the money without even thinking that this is definitely going to be very TEMPORARY. Luckily I used it mainly to buy 2 laptops and its carrying bag which altogether sets me back almost $2K. This is a grave mistake which I have taken responsibility upon and I pledge not to do it again ever in my life.
Yes, the Rich will NOT live below their means. Living below your means will NEVER make you RICH... I am not even going to tell you why but this is what I learn from the book "Increasing Your Financial IQ"... If you want to know why, by all means go and read it.
I am going to share how the Rich spend their income and live life to the fullest up to a point where they enjoy financial freedom to support such a lifestyle.
Let's say you want to buy like me a good laptop. I cannot just wait for my payday, go out and buy it using my salary. What Rich people will do is simply use the money from their income as a capital for a small business transaction.
They just defer the date of the purchase until they can raise enough money from the income to accumulate through some business transaction and then use the profit to buy the things that they want. Therefore their income remains intact and they got what they wanted without depleting it. Yes... it is that simple and if I had known that I could have use the $2K that I use to buy my laptops and do some business transaction perhaps sell pineapple tarts (which I sold 500 bottles), my income from the previous business would remain intact.
I must remember this or at least I am assured that this is what I am going to do with this year's annual bonus... Inshaa Allah...
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