How Do You Know If You Are Rich or Poor or Middle Class

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How Do You Know If You Are Rich or Poor or Middle Class

The life is full of struggle in which we sometimes not know what is the stage we are and what is my aim? If we know we are poor then we can struggle to move to the middle class stage?

So, this knowing is very important for our financial journey that is why we give the answer about rich, poor and middle class stages and their mindset!

What Defines Poor, Middle Class, and Rich?

1. The Poor: Living Paycheck to Paycheck

What does it basically means living paycheck to paycheck means if you are very anxiously waiting for the first of the month if you are very anxiously waiting for the last of the month then unfortunately you are living a mediocre life you are living you are struggling for your financial needs you are struggling for your basic needs as well.

Because if you are counting the days it means you are counting them very anxiously and patiently and he wants the next salary to come as soon as possible just to meet your expenses.

We have unfortunately seen these kind of people in our society that who have this kind of a habit who have this kind of a lifestyle that when the first of the month arrives they just went  into the mall and started shopping all the useless activities and useless things which is not good for their future goals financial goals as well.

2. The Middle Class: Comfort but Limited Freedom

The middle class category is also struggling because they have a decent amount of comfortable life they have a decent amount of luxurious life they have a decent amount of lifestyle which they can show which they can live but unfortunately there is a limit attached to their freedom they cannot access beyond their barriers if they have something very expensive to buy they cannot do that because there is a certain mode of limit barrier in their mind.

3. The Rich: Financial Freedom

The rich people have the freedom they have the financial freedom to do whatever the hell they want to do whatever their mind and heart demands but sometimes it is not very necessary that if you see someone very luxurious living a very luxurious life living a very materialistic life that doesn’t mean that he is rich what basically are its person means that he knows what are the things that he needs to do either he’s showing off the things either he’s living the way he wants to live.

How Experts Define Rich, Poor, and Middle Class

Many of the financial experts have given their opinion on rich poor glass and middle class as well that why these classes exist and what are the things that these classes are doing which make them fall in this kind of a category.

The poor class is just struggling to meet their basic needs and fortunately they don’t have any assets The middle class they have assets but they have a very limited assets which cannot go beyond that limits while on the last stage and the last category which falls which everybody wants to be is the rich class they have assets that’s why the money worked for them and they do not work for many.

Understanding Wealth Beyond Money

Being wealthy they doesn’t mean that you  only money or just money doesn’t it rely or express your wealth at the very same time.

  • The Wealthiest People Own Their Time there is a very famous quotation that goes like time is money so if a very wealthiest person you see in your life what is the measurement of his wealth that he has the time to do whatever he wants to do if he wants to sit in a living room he will sit there if he wants to go to the gym he will go there and do all activities he wants to do he is not bound or answerable to anyone.
  • Wealthy People Focus on Cash Flow and Investments
    what does this basically means cash flow means making the cash flow in a very peaceful and very respectful circuit that the cash and the money works for you and you make some certain investment for your coming future then investment will pay you in that coming future be on your imagination yes you have to take some rest for that but you have to take some calculated risk to make it very clear for your mind and head.
  • They Know Money Improves Their Quality of Life, Not Just Their Possessions
    the rich people know that money is done as a city of life yes they will improve the quality of life but it will not be a matter of life and death for them that they will kill their inner peace their mental health their sleep and something like that which is very much necessary for them as well.
  • Wealthy People Are Generous but Mindful
    Yes we all know that the wealthy people are very much free and very much on the front foot when it comes to making money but yes they use their mind as well as the very same time that what are the things that they are doing and how they can double the money which they have.
  • They Understand Compounding
    at the end of the day we all are human beings we all need some companions we all need some team what are the same mission as we are so this is the main ingredient of the rich people and the wealthy people who we consider rich they know how important it is to make up a team and compound themselves in a team.
  • Automation Is Key
    definitely automation is the key for their financial independency because they know the barriers they know the trial and regulations and how to fix them.

Financial Health Boosts Physical and Mental Well-Being

The financial independency will boost their physical and mental health as well it goes on hand and it is very important ingredient that when you are working on your financial status you make sure that your mental health is also in place and it also comes as a very important ingredient to your life because when you know that if anything happens to you . you have enough money in your bank account to cope up with that.

How to Move from Middle Class to Wealthy

Identify your mistakes analyze your wealth analysis and make a strategy make a time table what to do and what not to do where to spend and where not to spend.

  • Invest Early and Consistently: investment is the key in making or changing your lifestyle you have to invest consistently but at the very same time use your head.
  • Live Below Your Means: have more than you show speak less than you know is the main ingredient in this criteria.
  • Diversify Your Income: take some calculated risk at the very same time invest something new and rely on something which the people are not looking at.
  • Protect Your Wealth: what does it mean to protect your wealth do not spend it on useless activities just to impress the people parting or clubbing something like that

Related Post: 8 Simple Habits To Become Wealthy

Wealth: More Than Just a Number

To be very honest with you well is very necessary if you want to be among the classes who are ruling the world if you want to be amongst the best of the people if you want to earn well if you want to give the best lifestyle to upcoming generations of yours if you want to live a very comfortable life.

You have to make sure that you are making a decent amount of money or a huge amount of money according to your expenses or more to your expenses then make sure that you make a move and start investing and learning about new learning skills and investing skills which are very much comfortable and very much according to your mindset which will make you feel that you are excelling in your life you are making a progress slide progress is better than no progress.

Income and Wealth: What’s the Difference?

Now we are going to go deeper in the problem there is a huge difference between wealth and income . income is very necessary for your day to day life to meet your day to day expenses but wealth Means your stock exchange your investing skills you’re saving skills and most importantly your knowledge about the money how it will double you the profit double you investment you the time.

We have often seen the people around us that who has a very huge amount of income but unfortunately he spends all of his income into the useless things such as buying cars and all those materialistic things just to show off the things and just to show off the people that how successful and rich he is in the eyes or the people we are not saying that these things are not good you shouldn’t buy it but first of all before buying it you should make sure that you make assets you make value and investment in something some projects which will make you double the amount if you have invested.

Conclusion: Where Do You Stand?

To analyze where do you stand as an individual you have to make some charts and see that either you are financially independent when it comes to your basic necessities are you fighting for them or are you that kind of a person who has a free Will to do everything.

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