Have you ever wanted to achieve wealth and to be able to just sit back and relax, knowing that you
make enough money to support yourself even when you are not working? Have you ever wondered
how did successful people manage to get where they are now, and why is it that you simply cannot
get rich even if you are trying to? The chances are that you are doing something wrong, and here
are some of the most common reasons why you are not rich and why you won’t become rich
anytime soon, unless you do something about it:
1. You Overspend On Things That You Do Not Need
This is by far one of the most common problems people face nowadays, and we have all fallen into
the trap of sales and “special offers” at least once. We tend to buy things we do not need, simply
because they are on sale – on the other hand, shopping and overspending can be a real issue for
some of us. Habitual overspending is a very common problem, and it often happens that we do not
even realize we are doing it. If you want to become wealthy, then you will have to cut your spending
significantly. Many billionaires chose to skip luxury items. Warren Buffet has said, “Most toys are just
a pain in the neck.”
2. You Are Not Thinking About Passive Income
This is by far the most common mistake people make these days, a mistake that prevents them from
ever getting rich. Unless you get a six figure salary, it is virtually impossible for you to become
wealthy in the long run by focusing only on linear income, instead of finding a way to achieve
passive income. The concept of passive income is very simple: you need to invest in something that
will guarantee a long-term income, even when you are not working. In other words, you have to find
something that will make you money even when you are sleeping.
Linear income, however, refers to your regular, monthly paycheck. If you have children to raise and
a mortgage to pay, it is very difficult to become rich by sticking solely to your linear income, this is
why you need to put your entrepreneurial skills to good use and find another way to achieve the
wealth you crave for so much. Property investors, for instance, are among the best examples of
people who manage to make it big by focusing on passive income: after investing in one or more
properties, they just sit back and see their capital grow and they get a positive return on their
investment. Instead of working two or three jobs simultaneously trying to improve your social status,
you should find a way that allows you to get a continuous flow of money in the long run, without
having to move a finger for it.
3. You Are Not A Smart Shopper
You would be amazed to see just how much money you spend on fees and other taxes, on a
monthly basis. From credit card and banking fees to late fees, every company is trying to “get a
slice” of your monthly income. If you are the type who always pays late fees, penalties and other
similar charges, then do not expect to get rich in the near future. You may be tempted to think that
these fees are irrelevant and that you cannot build an empire by saving several hundred dollars a
month in fees, but the truth is that it is more a matter of mindset, than a matter of money.
4. You Always Complain Yet You Never Do Anything To Achieve Wealth
Unfortunately, this is a common personality trait among people who want to get rich and who fail to
do so – if you have repeatedly tried to make a name for yourself and you simply cannot get a hold of
it, then frustration does get to you eventually. We all know the saying “Good things come to those
who wait”, but the truth is that good things only come to those who work hard enough to get them.
Complaining about your financial situation will not get you anywhere: instead of trying to make other
people feel sorry for you, you should start looking for a way to make more money. Take
responsibility for your situation and do not expect anybody else to pity you or to give you a helping
hand – that is not how a true winner thinks!
5. You Lack Long-Term Vision
Another reason why you fail to become rich is that you “carpe diem” – you live the moment, and you
totally forget about tomorrow. You cannot possibly become successful unless you think long-term.
All the successful investors and business people think about what will happen in the next two to
three years or so, and they never expect their investment to pay off over the night.
6. You Don’t Have A Clearly Defined Plan
If you know you want to get rich, but you do not have a very clearly defined plan that will help you
achieve your short-term and long-term goals, then you should be realistic – it will never happen.
Unless you win the lottery and you suddenly get rich overnight, you will have to come up with a clear
plan of action that will help you achieve your financial goals, and you will need to follow it religiously.
Perhaps the most important part of this plan is your emergency fund: failing to have an emergency
fund for unexpected situations will only harm your finances even more. Just imagine what would
happen if you suddenly become ill and you do not have a medical insurance: your medical bills will
sky-rocket. Saving money should definitely become a priority, if your main goal is to accumulate
wealth over the years.
7. You Are Simply Not Willing To Work Hard Enough
Procrastination is your biggest enemy. While it is true that there are some people out there who
managed to hit the jackpot without working too much, this does not mean you will, too. Usually,
people who have a revolutionary idea and who have the resources to make it happen are the ones
who become rich without “going the extra 10 miles” – however, in most cases, this was only a strike
of genius, it was not their intention to get rich without working hard for it. Once again, everything
comes down to your mentality, and if you truly want to succeed, you will need to think like a true
winner and to act like one, too!
Source Article :
1. http://www.ivillages.com
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