Saving Habits: The Key Difference Between The Rich and The Rest

Since the invention of money, wealth creation and wealth accumulation has always been a fundamental goal of individuals and societies. This topic has become increasingly relevant in modern times, due to the increasing costs of living in a competitive, globalized society. Individuals who managed to crack the wealth code can get to enjoy a higher quality of life, especially in the future.

But here is one critical difference that separates the rich from the rest, that decides who will be propelled toward unlimited wealth, and who gets left behind: Saving habits.

The fundamental difference between the rich and the middle class can be seen from their saving habits. The middle class follows an earning and spending habit that looks like this:

  1. Earn
  2. Spend
  3. Save

When a typical middle class individual receives his paycheck, he will be spending most of his income almost immediately, and then try to save the remaining monies. Often, what is left to save after all expenditure is little. Even if they managed to get a pay raise, their expenditure will somehow catch up with any increments in their pay. Thus, a typical middle class individual always have a compromised savings account.

Compare this to the earning and spending habit of a rich that looks like this:

  1. Earn
  2. Save
  3. Spend

Whenever the rich receives money, he will immediately set aside a percentage of his earnings into a savings account. For example, he can dictate that 30% of his monthly income goes into savings every month without fail. Therefore, the rich pays himself first before he pays anyone else through expenditure.

Contrast this with the earning and spending habits of the typical middle class person, who spends first (and thus pay everyone else first) before paying himself.

Therefore, the message in the first step to abundant wealth is to always pay yourself first. On course, this requires discipline and the ability to withstand delayed gratification. Save at lest 10% of your income, even when you are still in debt, then spend the rest for your necessities and debt repayments.


Saving is the first step toward abundant wealth. You will be surprised to know that many people will struggle to even save a healthy sum of money every month! Hence, if you can get this step right, you will be one step ahead as compared to the general population who cannot even save a decent sum.

About The Author

Ebay Products


Please enter your comment!
Please enter your name here