Why am I not rich?

Have you ever thought about why they are rich? How do they accumulate all this wealth? Why do the rich get richer? Is wealth limited to them? Can I become rich? These questions must always be on your mind.

But rest assured, dear reader, there is no secret plan for wealth. You are the only person responsible for your level of wealth, and to the extent that you see that wealth is far from you, be sure that the only thing that separates you from it is the way you think about and deal with money.

The way of thinking about money is what determines your financial condition. The way of thinking financially is what makes the difference between the poor and the rich, and not the amount of money you have. You may find a person with a high income, but he is forced to borrow constantly. We see some rich people return to poverty after years.

Whereas rich people understand how money works, realize that money brings more money that works for them, and appreciate the true benefits of things.

Thus, we must agree, dear reader, in our thinking about money, as it is what determines our financial destiny. Therefore, we will seek to develop our financial skills in order to be rich with the wisdom we have, which protects us from returning to poverty. In this article, we will present some of the convictions that affect our financial lives and the paradoxes between the thinking of the rich. And others:

Benefit of money:

Imagine with me that on a very hot summer day you want to drink something cool to ease the heat, and you are faced with two choices: drink a cup of Pepsi or drink a cup of fruit juice. Both are cold, but the benefit to your body from them differs greatly.

This example also applies to money, as what you benefit from the riyal you spend to buy bread is different from what you benefit from the riyal you spend to buy a piece of cake, for example, and the riyals you spend on tourism are not compared to what we benefit from the riyals we spend on education, and this also applies to investment! The money you spend to buy luxuries differs in its accrued benefits from the money you gain from the money you invest.

The difference in benefit achieved from money is called the concept of “the benefit of money”. Banknotes are equal in terms of form and value, but the benefit achieved from them (the benefit of money) differs according to our use of money, and this fact is fully understood by the rich.

Here we can come to the conclusion that the amount of money we have is not as important as the way we use the money. Does the way you divide and spend your salary get you the greatest possible benefit from it? Is the way you save money giving you the best possible profits? Next time, before spending or saving any money, ask yourself: How can I get the most out of it? Remember that the way we deal with money is what determines our financial level in the long term.

Spending priorities:

After we agreed that the benefit (benefit) of one riyal varies according to the thing we spend it on, we must now discuss spending priorities, and based on them we determine the amount of benefit we achieve from money. Spending priorities are our compass for correct spending.

There are three basic levels of spending: necessary, necessary, and improvement:

1. Necessary spending: It is spending that we cannot do without or reduce Because of its connection to the basics of life, in fact, in low-income situations, we borrow To cover it. Such as spending on basic requirements for the home and family, such as basics Food, medicine, rent or house payment.

2. Necessary spending: It is the spending without which our lives would not cease to exist, but would exist Life is hard and uncomfortable with the possibility of continuing it. Like there is a way Contact with others, having a means of transportation, and having more than one dress for occasions.

3. Improvement or luxury spending: It is spending whose absence does not affect Life, but its presence improves the quality of life, and makes us feel joyful, like purchasing The latest release for your favorite mobile, leisure travel, or dining out Home, or even buying clothes without having to do so.

But how can we benefit from this division? We can do a simple exercise. Get a piece of paper and write on it every spending transaction you made today. After that, think about each operation and classify it into one of the following:

1. It can be dispensed with without affecting my daily life, and this is called improvement.

2. It is so indispensable that I borrow to buy it, so we call it essential.

3. It is irreplaceable but I may not borrow to buy it, and that is what we call it Alhaji.

After this classification, you can calculate the total amount of money you spent on each of them. The greatest benefit achieved was from the money spent on the necessary, then the necessary, and the least benefit achieved from the money was what you spent on the improvement item. Note that the improvement item could have been dispensed with completely and used for spending. Necessary or necessary. What was applied in the previous exercise can be applied to the expenses of a week or a month so that you know how much you are missing out on the benefits of money.

Spending priorities vary according to the social situation and the place in which you live, and they differ over time as well. What is an improvement at one time may become a necessity after a number of years, but in no case is it acceptable for us to spend on improvement while we have a shortage of what is necessary or necessary! Borrowing to spend on improvement! Imagine, dear reader, that [borrowing](https://www.sama.gov.sa /ar-sa/EconomicReports/Pages/report.aspx?cid=55) With the aim of [ ](https://www.sama.gov.sa/ar-sa/EconomicReports /Pages/report.aspx?cid=55)Tourism in 2019 amounted to 455 million riyals Saudi, and in 2021 it increased to reach 646 million Saudi riyals.