1. Don't buy expensive things right away.
Most of us want to buy expensive things when we receive a lot of money. Because aside from the convenience and the fact that the fact that we can benefit from it for a long time, we also want to get the attention of other people. We also cannot deny when we can afford something that an ordinary person cannot afford. But sometimes, because we can afford something, we just end up spending it, and we forget to ask ourselves if we really need it. Or we just want to buy it because we want to impress other people. And due to a lack of spending awareness, we become impulse buyers. Until this habit becomes our second nature or the worst, we base our spending on what we want other people to see in us.
But the question is, what is our goal? to get rich to impress, or to get rich to have freedom? When you have a lot of money, you have nothing to prove to other people. Since you know that you are rich, it is a better idea not to let other people know that you are rich. One should just choose the simple life and live with a purpose.
this is the most important advice that newly rich people need to know that they need to use their money on more important things, rather than just buying luxury goods which are just a waste of money. they need to set up additional income and investment with more and then save, so that it will stabilize their finances, then after that is achieved they can buy luxury goods, but also not excessively.
because there are quite a lot of cases where people who have just received a lot of money use their money unwisely by buying luxury goods directly and not thinking about how they can use the money to build additional income and increase investment. and when they find financial problems, their lives immediately falter because of their mistakes in managing their finances.