Archive for the ‘Personal Finance’ Category

How to teens get rich with not so rich parents?

Jayy asked:


I’ve seen this alot where a guy’s family isn’t rich, yet he somehow manages to always look sharp and hot and everything. How is this possible?

SHELBY

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What’s the mentality of the Rich that makes them work when they can retire luxuriously?

darkmanx1209 asked:


When a rich person has $50 million or $100 million, why do they still work? When you have that much money, another few million does not matter in living the lifestyle. Either way, it usually can’t be spent.

So what is the mentality that makes them work for more money?

AIDA

How much more expensive is it to live poor than rich?

Tasm asked:


I wonder if there has been studies to show how much more expensive it is to live poor than rich?

For example:
- Poor pay interest in credit card, rich pay credit card instantly and get the rewards.
- Poor pay high prices for small items, rich pay high price for bulk items which in turn costs less overall per quality.
- Poor rent, rich own houses and put monthly payment into equity.
- Poor borrow money paying interest on student loans, rich go to best school with no debt at the end.
- Poor tend to eat worse and have more health problems than rich which ends up costing more.

Some items paid over time end up costing twice as much. Bottom line is poor people pay a lot more than rich people and many times go into bankrupcy just trying to live normally. A rich person looks at the poor person’s monthly rent and yearly income and wonder why the person can’t live. It’s because the cost to poor people, that rich people do not have to go through, is so great that it cripples them.

DONNELL