 Some poor people believe that taking money from the rich and giving to the poor will bridge the gap between the poor and the wealthy. Let's say that happens. What's next? Some people will take their money, keep it safe in the banks for a while, collect it and waste it on wants and go broke again while some others will take the money from the bank and create streams of income for themselves. So, do you still think that sharing the wealth of the rich amongst the poor will suffice for wealth inequality? In this video, I will show you a better way to amass wealth by sharing with you 7 things that only poor people spend their money on. 1. Fancy toys for kids Who would not want to buy a fancy new toy for their kid when the kid is begging and looking at them with pleading eyes? Well, wealthy individuals are the cruel-hearted people who would not. They have the finest to build a toy house for their kids, but they don't. Successful people assume that too many toys can harm kids and cause them to be less creative. This conclusion was backed with a study. In the survey, 36 children were offered the chance to play for half an hour with 4 or 16 toys. It was found that the kids from the group, the ones who had 4 toys, showed more creativity and came up with more exciting ideas using fuel objects. Hence, many successful parents try as much as they can to avoid over-pampering their kids and to them, buying expensive toys for them is one way through which kids get spoiled. Instead, a typical wealthy parent will buy educative CDs and gadgets, storybooks and even if they buy toys, they will art for simple and long-lasting ones. 2. Give money to scammers These poor people do not give out the money with the mind of throwing it away. They fall into the trap of tricksters because of their desire to get quick wealth. Because of their unwillingness to learn, poor people often confuse Ponzi schemes for investment. Poor people are so in a haste to get wealth that they become prey to scammers who pose as money doublers. They are afraid to make long-term profit investments but are fast to jump into get-rich-quick Ponzi schemes. And this mindset of overnight financial freedom is the exact reason why they remain poor. Wealthy people on the other hand are very calculative. They take risks but sensible ones. They are not swayed by the sham of Ponzi schemes and do not make haste decisions when it comes to their money. In the words of Dr. Steve Mariboli, Get-rich-quick schemes are for the lazy and unambitious. Respect your dreams enough to pay the full price for them. 3. Numerous Credit Cards According to Tom Corley, the author of the bestseller, Rich Habits, the daily habits of successful people, only 8% of wealthy people have more than one bank card. At the same time, 77% of low-income earners carry numerous credit cards in their wallets. While your credit card can be a lifesaver, it can also be a money sucker. The bitter truth that poor people fail to accept is that the more credit cards you have, the more fees you pay. And the more it is difficult for you to track your spending, because with credit cards comes impulse spending. 4. Buy Cheap Things While it may look wise to buy the inexpensive stuff and save the remainder, low-priced things are most times inferior and do not last for long. People assume that rich people buy new stuff every day. No doubt, they have the money to replace things that get broken or worn out. However, millionaires would rather spend their money on investments than waste it on replacing broken stuff regularly. They understand that the cheapest item is not always the most profitable, hence they place durability over the price of commodities. Poor people, on the other hand, do not take time out to think through and compare the price tag of an item with the value of the piece over time. Thus they fall into the temptation of buying the cheap ones with the intention of saving the money or spending it on something else. But in reality, they waste their money, because sooner than they expect, they will have to purchase that item again. 5. Doing Nothing It is only the poor that do nothing with their money. The rich people save but do not allow the money laying their accounts. Instead, they make it work for them to yield more money. However, the poor always want to stay safe, so they will instead do nothing with the money, just saving without any plans. The irony of this action is that the money they keep in the bank is used to enrich someone else who is bold enough to do something with his money. The primary reason why the poor do nothing with their money is that they lack financial literacy. They work hard to earn and save money without mapping out what they are saving for. They hold on to the funds so tightly and keep it in the safest place they can think about, the bank. But little do they know that these same banks lend the money to their employers who are ready to take risks. These risk-taking employers use the money to expand their wealth and even to pay employees their salaries. 6. Fast Fashion The latest trends in fashion are information never lacking in the mouth of the poor. They will even beg or borrow money to meet up with the newest brands. Yes, the rich and powerful can afford clothes created by any fashion designer, but do they buy up all the latest collections? No, they don't. No doubt there are social events and conferences where they need to dress well for networking. However, on regular days, wealthy people wear simple and casual clothing. Research has it that Microsoft's chairman Bill Gates used to wear a $10 cashier watch until he upgraded it to a $42 Casino Quartz Diver 200m MDV106-1A which he wore all through 2019. Also, Ingvar Kamprad, the founder of IKEA,