American millionaire known as Taylor Money, on TikTok as @taylor_money_, shed light on a fundamental difference in how the wealthy perceive money and manage their finances compared to the general population.
According to him, the rich do not focus on acquiring flashy possessions or indulging in extravagant expenses. Instead, they view money as a means to further increase their wealth.
In a widely shared video on TikTok, where he shares financial tips with his followers, Taylor explained, "Poor people think money exists to pay bills and keep themselves out of debt. They work for someone Monday through Friday, they exchange their time for money, and then they give it to someone else. It's a great way to scrape by in life and never get ahead."
He continued, "Now, middle class people think that money is to build credit so they can get loans from bigger and bigger institutions that they will pay off over time... And they buy bigger houses, bigger boats, bigger cars, whatever. That's not the function of money."
What is the value of money? Making more money
Taylor argued that "Rich people know the function of money is expansion, is to use your money that you make to make more money... Rich people expect every single dollar they have to make them more money. "
Taylor, who himself became a millionaire in his 20, said, "When you see money as a vehicle for your own expansion, then the opportunities to make more money or expand start presenting themselves for you to take."
@taylor_money_ Multi millionaires do this daily #Rich #MoneyTalk #RealEstate #Abundance ♬ original sound - Taylor Money
In another video, Taylor shared advice from his 31-year-old friend with a net worth of $12 million, who compares budgets to thermometers. and that spending mental energy on finding ways to save an extra hundred dollars a month is a waste of time.
Instead, Taylor's friend suggests channeling that mental energy into endeavors that can help earn more money.