Tuesday 11 November 2014

The Different Ways The Three Classes of Society Think About Money



Being rich is having time and money to enjoy life. It’s not about owning a yacht, a multi-million pound property or being able to buy everything you want. A person who sets a goal that would make them content with life is a person who is already rich. However, for the three different classes of society, the way money is thought about works differently.

1.    Low-Income Class
For the low-income class, it is about spending money on things that yield no profits. These may be consumer electronics, luxury vacations and new appliances. These only provide benefit for a short time and have no long-term possibilities. As a result, these bad investments only drag them down to living from one paycheck to the other.

2.    Middle-Income Class
The middle-income class also falls victim to spending on things that yield no investment value. These are more luxurious vacations, spending on a new vehicle, and more expensive appliances. Unlike the lower-income class, the middle-income class have the financial capability to invest, but seldom do so.

3.    High-Income Class
The high-income class in each country spends, but thinks of their returns first. They prioritise purchases according to the returns and profits they could get. As they think of it in such a way, they create passive incomes. Their money for spending for themselves increases with every purchase. Basically, it is just them purchasing items that would deliver returns.