Why Looking Poor Is Key to Better Wealth, According to Money Pro Nischa

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However, Nischa, a former investment banker and YouTube channel host, is not one of those people.

Here are Nischas four reasons why looking poor is animportant component of becoming financially successful.

However, you also raise your living standards and make your new desires even more expensive.

Nischa explains that scientific researchers have found this to be true, calling this the hedonic treadmill.

To understand the hedonic treadmill, imagine youre on an actual treadmill.

Nischa uses the example of purchasing a new smartphone.

Once that brand advertises the newest model, you begin to feel the itch to upgrade.

You step off the hedonic treadmill by choosing not to concern yourself with looking wealthy.

Maintaining a successful-looking appearance costs a lot.

Individuals trying to look rich spend their money on designer clothes, nice cars and the newest tech.

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On the outside, they may be the envy of others.

However, internally, they could be working a job they hate just to keep up appearances.

Nischa admits that she used to have this mode of thinking.

However, when happiness didnt follow, she dropped her spending to almost nothing over several months.

Nisha instead diverted that money toward education, learning and new skills.

She recommends earning money first and investing it toward freedom.

Then, spend any leftover money on other things.

Keeping up with the Joneses is stressful.

Choices like these keep you stuck in survival mode and struggling with your finances.

Money often makes people pretend to be someone theyre not.

Using wealth to attract others is risky because those impressed may only pursue you for materialistic reasons.

Relationships based on money typically dont last long and arent fulfilling.

Nischa explains that authenticity is the foundation for a relationship that will last.

Staying true to yourself without needing to flaunt your riches is the essence of true wealth.