15 Things Keeping Us Poor

Photo by Mark Harrington of https://www.flickr.com/photos/c3kc_mark/

Avoid these 15 habits to escape the cycle of poverty and become rich!

  1. Watching Too Much TV
    • TV turns you into a spectator.  Rather than living your life, you watch other people live their own or act out a fantasy.  Celebrities are rich because they spend more time living their lives than worrying about what’s been happening on reality TV.
  2. Eating Fast Food
    • We all know that it is unhealthy and expensive.  Plus you’ll pay for it later in medical bills.
  3. Buying Things because They’re on Sale
    • Some of us get excited by the thought of saving money  by buying something that is on sale.  But the truth is t “You can’t save money by spending money.” Items only go on sale because no one else wanted them.  You have enough stuff, buying more won’t make you any happier.
  4. Sleeping In
    • We are given 24 hours each day, but some people figure out how to do more with that time and part of the reason is because they get started early and seeks to not waste time
  5. Following Professional Sports
    • The only people who benefit from professional sports are the athletes and owners.  Being a fan simply means making someone else wealthy.
  6. Not Showering
    • Believe it or not rich people take more showers and take care of their appearances because they know good looks opens doors.  You often hear them say “Dress for Success” or “Dress for the job you have not the one you want.”  But, don’t break the bank on fashion, buy a few sharp items
  7. Blaming Others for Our Misfortune
    • Life is not what happens to us, but what how we react to what happens.   Instead of giving up in the face of adversity, study it, understand it, then overcome.
  8. Not Saving Money
    • Emergencies happen, if you aren’t prepared it will cost you more.  Poor people rely on credit or selling valuables when times get tough.  This leaves them without assets and stuck with higher fees.
  9. Using Debt for Consumption
    • Only use credit to buy something that will generate more money.  Rich people borrow to start businesses, get educated, or make investments.  If you don’t have the money to buy a product you want… don’t buy it!  Its that simple.  When you use debt for consumption, your borrow against your own future earnings and will be stuck in a situation where you can never catch up.
  10. Having Too Many Kids, Too Early
    • Each child will cost you roughly $250,000.  Plan to have kids when you are ready for that investment.  They are worth it!  But, they will cost you!
  11. Skipping Medical Check-Ins and Exercise
    • Nothing is more valuable than your health because once it is gone, so are you.  If you overlook this vital asset, you will eventually find it snowballing out of control. So the decision is yours: You can pay a little today or a lot tomorrow.
  12. Spending Money Before You Have It
    • All the world’s Personal Fiance advice boils down to this one simple sentence: “Spend less then you earn.”  This rule can be followed at any income level.  The key is matching your income to your lifestyle; its not the other way around.  Don’t try to live someone else’s life.  Live your own and be successful.
  13. Surrounding Ourselves with Poor People
    • If your friends have bad money habits, so will you.  Their lifestyle will become your lifestyle.  If you want to be rich make sure you surround yourself with people who understand money and do your best to learn from them.
  14. Not Following through with Ideas or Potential
    • Once they are started, 90% of businesses ventures fail.  But if you don’t turn your idea into action you will fail 100% of the time by never started in the first place.  Its OK to wait until you have a good idea, but it is more important to start today and learn lessons as your path unfolds.  In fact successful entrepreneurs tend to fail at up to 4 business ideas before learning enough to make their 5th business a success.
  15. Thinking that Others Should Help You Advance
    • The world is not fair and it owes you absolutely nothing.  You have everything you need to be a success.  Believe that!  Go use your God-given talents!

Go out there and thrive, people!

Advertisements