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Credit: Linda Bestwick (background), WAYHOME studio (left), ussr (right) – Shutterstock
The behaviour of students is identical to the behaviour of the wealthy. Students live frugally (share accommodation, don’t buy branded goods etc,) obsess about one thing (obtaining their degree,) and look to save costs whenever possible (using student discounts).
‘Whoooaaa there’, you might say, ‘that’s not how rich people behave. Rich people live in big houses and drive flash cars, like Premier League footballers.’ That’s true, I would respond. That’s how ‘rich’ people behave. That’s also why 3 out of 5 professional footballers who earned more than £30k per week, go broke when they finish playing football. That’s because they’re merely ‘rich’ and not ‘wealthy’.
Being ‘rich’ can be defined as ‘earning a lot of money’. Footballers would be a good example, but it also describes most of the middle class too. They make lots of ‘dollar’, but they also spend lots of ‘dollar’ – sometimes a lot more ‘dollar’ than they earn.
Becoming ‘wealthy’ has less to do with what you earn and more to do with what you save. Wealthy people don’t worry about money. Whether they work or not, the money rolls in. That’s because to become wealthy, they lived frugally, obsessed about their goal, and never spent £40 on a T shirt if they could get one for £5. The money they saved by living this way, they invested. Over time, those investments grow and after 10 years would generate as much income in two months, as they previously earned in a year.
All because they behaved like students.
So why don’t more students become wealthy? That’s easy. It’s because they change their behaviour.
Students behave the way they do because they’re forced to. They have little money and that constrains their buying power. They have no choice but to behave the way they do. Once they’ve left Uni and get their first job and they’re first pay checks, they now have a choice; to continue to behave the same way whilst investing 50% of their new riches, or behave like average people and live to the max. Guess which behaviour most choose? That’s right, they choose normal. They get a flat of their own as a sign of freedom and maturity, taking upon themselves the cost of rent, council tax, gas electricity, water and insurance. They replace their thrift shop clothes with high street brands, and lease a brand new car. These extra costs restrict their social activities, but no matter, they can pay for their nights out on their new credit card.
The proof of that behaviour is everywhere. Rampant consumerism and massive levels of personal debt. All in an attempt to look wealthy, instead of becoming wealthy. Looking wealthy is waaaaay easier than becoming wealthy. Looking wealthy is choosing the path of least resistance
But know this, it’s just a choice. Your choice. How can I be so sure? Because I did it. I chose to spend all my money (and then some,) and was eventually driven to bankruptcy. Behaviour has consequences. I changed my behaviour to that of a student, and within 3 years became financially independent. In 7 years I will have a net worth of over £1 million. Behaviour has consequences.
Should you want to copy me, you can follow my journey at www.youtube.com/stupidisthenorm
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