There was a recent article:
10 Reasons You’re Not Rich Yet
http://time.com/money/3944987/not-rich-yet/?xid=tcoshareSo I had some fun with the list and realized that if you do the opposite it can become:
10 reasons why YOU ARE RICH
1) You spend money like you are poor
Shopping at thrift stores and passing on expensive restaurants & dinners. You often DIY and keep a tight budget.
2) You have a clear financial plan
If you are not already FIRE you have calculated and know to the month when that will happen. For medium term expenses you know when you will need a new roof, car etc. and save accordingly.
3) You have an emergency fund.
But $h|+ happens so you either have a few months cash saved or you have access to a very low interest LOC incase emergencies arise.
4) You started young
With the power of compound interest &/or appreciating real estate prices over time your net worth is starting to increase exponentially.
5) You commit and don't complain
You know that ultimately you are responsible for your wealth. You have recognized bad spending habits in the past and made an effort to change. You also don't hum and haw on a stack of cash. It's well invested and working for you.
6) You live for today & tomorrow
You find richness in many aspects of life. You enjoy the great outdoors today and are a frugal traveler. You live for family, friends and the time you have today. You realize buying stuff does not bring happiness. Your philosophy today will still make you happy tomorrow.
7) You make smart investments
You are either well diversified and understand your stocks or you have a couple balanced ETFs. You don't blindly follow the banks plan and invest in something with high fees. You don't gamble on the next big thing.
8) You automate
All your bills are paid via direct deposit. You have never missed a payment or paid late interest. You have set up extra auto payments on your mortgage. For your savings, that too is put aside automatically.
Your investment dividends are automatically in a drip so there are no fees to reinvest. Set everything up and life is easy.
9) You had a sense of urgency
If you ever had debt it was like your "hair was on fire". You hit it hard and cut out your "wants" until that debt was gone. You were smart and paid the highest interest first. If possible, you took the time to consolidate your loans at a better rate.
10) You are not easily influenced
Your friends think you are a little eccentric. You have no TV so you don't even see all those adds. You take pride in your fixer upper house & car. You buy good quality gear and have a habit of wearing it out before you need the next version.
I am sure the MMM out there can add a few more.
