How to become wealthy not rich

How to become wealthy, not just rich!

In this episode, we’re unpacking a pretty big topic: the difference between being rich and wealthy. It’s easy to get these two confused, especially with all the glittery images we see of what wealth supposedly looks like.

IN THIS EPISODE WE’LL EXPLORE:

Being Wealthy vs. Rich: The difference between flaunting and building wealth through assets that do the work for you.
High Income Is Not Wealth: A big paycheck doesn’t automatically equate to growing wealth if it's spent as fast as it's earned.
Don’t Spend What You Don’t Have: The importance of living within your means to avoid the trap of debt and financial stress.
Rewiring Your Mindset: Shift your focus from "How can I earn more?" to "How can my money earn more?"
Building Long-term Wealth: The critical roles of money management, mindset and protecting your assets

How to change Your Relationship with Money

In this episode of the Money Mindset Podcast, we dive deeper into what it truly means to build wealth and foster a positive relationship with money. Prepare to shift your perspective and cultivate a positive relationship with money, focusing on abundance rather than lack.

IN THIS EPISODE WE’LL EXPLORE:

Uncovering Your Values: Identify what matters most to you and what shapes your financial decisions
Releasing Money Expectations: Especially the pressure of how and when your goals should be achieved
The Currency of Happiness: Challenge the myth that money equals happiness and explore the genuine sources of fulfillment
Escaping the Consumer Trap: Gain insight into the historical manipulation of consumer desires and how to break free
Transforming Your Money Mindset: Strategies to shift from a scarcity mindset to one of abundance

Key Takeaways From This Podcast Episode

1 / Being wealthy not just rich

Driving a luxury car or vacationing in exotic places might scream ‘rich,’ but it doesn’t necessarily mean you’re wealthy. Wealth is actually about what you’re not seeing — the investments and assets quietly growing money in the background.

2 / High income is not wealth

It’s a common mistake to consider high income as wealth. However, if that income doesn’t translate into savings and investments, you’re merely living a high lifestyle. Wealth is measured by what you save and invest, not by what you spend. Also, hoarding luxury possessions is about “status climbing” not “financially making it.”

3 / Don't spend more than you're making

It’s simple math. Making more money will not make you wealthy if you continuously and consistently spend more than you are making. This is how you get trapped in a cycle of always chasing more money, rather than accumulating wealth. Don’t spend all your income on luxuries, but see what you manage to keep, grow, and invest.

4 / Rewiring your money mindset

Replace the question “How can I make more money?” with “How can I make more money work for me?” This is the kind of mindset you need if you want to build long-term wealth. Because everyone can figure out how to make more money, but few have the skills to make money work for them.

5 / How do people become wealthy?

Building wealth isn’t just about counting those $$$ signs. It’s about consistent effort, smart planning, and learning from your mistakes. If you want to build a life of prosperity, you need the right building blocks: money management, mindset, structure, and asset protection.

Being wealthy is about so much more than just appearing rich. It’s about cultivating a lifestyle where your assets do the heavy lifting, allowing you to enjoy true financial freedom. If you want to put the insights from this episode into action you need to start with a clear assessment of where you stand financially.

Begin by evaluating your assets versus your lifestyle expenses. Are you investing in assets that grow over time, or are you caught up in accumulating status symbols? Next, draft a revised budget that prioritises acquiring assets over luxury spending. Remember, wealth isn’t just about having money; it’s about having options and financial freedom.

Meet The Podcast Host Ana Pereira

Ana Pereira is a visionary entrepreneur, money educator, and the inspiring voice behind the Money Mindset Podcast. Having achieved financial freedom through strategic investments and savvy financial planning, Ana now generously shares her experience to help individuals develop their financial education and cultivate a strong, positive relationship with money.