How Looking Poor Will Make You Rich

The path to becoming rich is looking poor and in this video I explain why.

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Chapters

00:00 Start Here
01:33 Chapter 1: The Profitable Industry Of The Fictionalized Rich
03:25 Chapter 2: The Boring Reality Of The Everyday Millionaire
05:20 Chapter 3: Getting Money vs Keeping Money
06:59 Chapter 4: The Power Of Small Decisions
08:23 Chapter 5: The Compounding Effect Of Wealth
09:59 Chapter 6: Creating Your Own Definition Of ‘Rich’

We often have a very distorted view of what it means to be rich where it is this life of abundance; however, this lifestyle leads people to becoming broke because when you spend all your money, you end up having no money. The true path to becoming rich is "looking poor" or living below your means. In this video, we do a deep dive into how looking poor makes you rich.

Chapter 1: The Profitable Industry Of The Fictionalized Rich

The reason we think rich people are extremely materialistic people is because the media portrays them that way; however, this is just a strategy to make money. Showing this beautiful lifestyle of abundance gets people's attention and that attention creates influence and that influence leads to profit. It is simply an industry that is trying to make money; however, this is not what rich people actually look like.

Chapter 2: The Boring Reality Of The Everyday Millionaire

The reality of rich people is actually extremely boring where they live below their means, invest over a long period of time, and live modestly. These actions give them more money to build their wealth over a long period of time. And the people who do flaunt nice material possessions are the people who often become bankrupt.

Chapter 3: Getting Money vs Keeping Money

In order to become rich, there are two skills that you need to master: getting money and keeping money. Getting money requires taking risks, putting yourself out there, and being optimistic; however, keeping money requires the opposite of humility and frugality. It doesn't matter how much money you make, if you do not have the skill of keeping money, you will go broke. Master these two skills to become rich.

Chapter 4: The Power Of Small Decisions

The everyday millionaire gets there by understanding the power of small decisions to live below their means. These small decisions add up and allow them to save money and use it to build their wealth. These small decisions, however, are not enough to become rich, but you also have to use that money to grow.

Chapter 5: The Compounding Effect Of Wealth

In our society, the rich keep getting richer and the poor keep getting poorer. And one huge reason for this is because poor people make their money through a paycheck, but rich people's money makes them money. If you live a more modest lifestyle, you can use this extra money to invest and grow your wealth over time. Wealth doesn't grow linear, but it grows exponentially.

Chapter 6: Creating Your Own Definition Of ‘Rich’

In this video, I am not saying that in order to become rich you need to look poor, but I am saying that you shouldn't follow this materialistic image of what the media shows us because it ends up harming you. Instead you should create your own definition of what it means to be rich and I guarantee that you will naturally spend less.

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[ElAgustin]

What's one lavish thing you buy because you enjoy it...not because you're trying to keep up?

[richardtidd]

Happiness is NO DEBT. No car payment, no bills in the mail, that`s my definition of the good life. Thanks Austin for your lectures on frugality.

[hereigns_oneaboveall]

I've always lived poor and saved 85% of my income....people laugh at me all the time, but it's OK. What they don't know is I'm retiring 20years ahead of schedule.

[workinprogresssince]

Keep your richness a secret. You're less likely to be robbed or have someone break into your house.

[mrgtmodernretrogamingtech]

People who know me (friends or not) always ask me why I'm not upgrading my 11-year-old motorcycle. I always say "It's cheaper to maintain what you already have than buy a new one.", but ask another one like : "But, you'll look poor in that thing, and how are you gonna enjoy life? Isn't that the purpose of money?", so I reply... "It's already mine, I hate monthly payments, I'd rather look poor than work hard to buy new stuff and I'm happy with it."... And these people brainwashed by socialmedia will smug in their high horses... Don't care, never did.

[sidinhasol]

Nice video looking poor makes you save up, given the ongoing global economic challenges, it's crucial for everyone to diversify their income sources, especially those not dependent on government support. Now is an ideal time to explore investments in assets like gold, silver, and digital currencies such as Bitcoin, Ethereum, and XRP. Thanks to Shea Ardolf for her outstanding proficiency and guidance in these fields.

[cucar]

Austin you are so right. I met a guy playing tennis 20 years ago. I wouldn't had never know that he was a millionaire unless someone told me. He never talks about his money of his business. He dresses like me or you, no fancy clothing designers, or shoes. He still wears the same watch from the time I met him!! No, it is not a Rolex. It is a simple Cartier, no diamonds, no nothing. He is such a kind man, he is always helping others in need and still he is not showing off. The only thing that he really like is cars, so every year or two he leases a new top of the line Mercedes. And the only way for us to find out is because we see a new car parked at the club! He doesn't even mention it to us. He lives in the same house all these years.

[dave_stewart]

Use it up, wear it out, make do or do without.

Thats how you keep your money.

[Thepastwasexciting]

I was able to buy my home ouright without a mortage by being frugal.
And Im really proud of myself

[jennifersjunkmail]

Speaking as a "boring" millionaire, I can attest to the effectiveness of everything Augustine says in this video about how to get there.

[KittyKat-vbnd]

Best comment. America has the best dressed broke people in the world. Facts

[andreabellini]

I own a cleaning business and make pretty good money yet I budget my groceries and shop at thrift stores because my bank account is more important than new clothes. I also am a minimalist, I always say I feel bad for anyone who wants to break into my apartment. I own nothing worth value lol

[TimeToStartOver]

I'm far away from being a millionaire, and to be honest I just want to live a simple and honest life, but not have to worry about money. The goal is clear, and thanks to videos like this, I started thinking about the way I have to take to reach this goal. Greetings from beautiful Bavaria! ✌😊

[tinygreenpineapple]

I would agree with this. I was a bank teller for a few years, and it was always the unassuming ones that had the money. I remember serving a polite, elderly (in my 20-something eyes, so probably in his 50’s 😂) gentleman, and when I saw his bank balance my eyes nearly popped out of my head. He was wearing shorts, flip flops and a white t-shirt (all standard casual wear here in Australia). He didn’t look poor, just unassuming.

[opureho]

With you. Love my boring life with my boring car, family time, sailing, kitesurfing, foiling, cycling, skiing, gardening, mowing my lawns or whatever spins my wheels.

[annalieff-saxby]

There's a saying: "New money shouts, old money whispers". The richest person I know (heir to a huge landed estate) mostly wears a tweed jacket, originally made for his grandfather, with so many leather patches that it's beginning to look like a suitcase. If I was filthy rich, I'd prefer to spend my money on handmade leather shoes, fitted to my own last, rather than flashy cars or rolex watches. No matter how expensive such things are, they always look "cheap" to me.

[KittyKat-vbnd]

Many people are living "rich broke". A in debt living a social media lifestyle.

[elizacreativediary]

Looking stylish and having a polished personal style doesn’t take logos. Just quality clothes. You don’t want to look cheap and look poor. Just invest in quality that will last a long time and you will look effortlessly put together, then you can focus on building wealth

[louannhuber]

Here’s advice I wish I’d been given during my working years: Get a government job. Then you’ll have a big fat pension during retirement.

[stantheman]

Well, we’re not millionaires, but have no debts including mortgage, cars and credit cards. We do eat out quite a lot, not at expensive restaurants, but not fast food either. Being debt free enables us to help others in need including missions projects.