Achieving financial security is virtually every one's goal in life and with the kind of difficulty people are facing in the process, a lot are still doing everything within their power to become rich. Millionaires have one thing in common which is usually their mindset. Every successful person has a mindset of achieving success but this mindset on it's own is worthless unless you back it up with some important behaviors which will serve as a ladder for your mindset to reach it's greatest height. Today everybody wants to be rich but only few are disciplined enough to follow the rules of riches.
Riches don't happen overnight, it takes time, effort and dedication. So if you are thinking of making fast money that will serve as riches to you, then you must be freakishly joking. Because as the money comes in a fast fashion, be sure it will leave in the same manner. Money built over time is the best form of riches and that is exactly what we are going to discuss here and now.
Based on the book "Secrets of the Millionaires Mind", I am going to present you with 7 proven behaviors that might be preventing you from getting rich. Taking this behaviors into consideration will ultimately put you in the right track towards riches and wealth creation.
#1. You are Focusing More on Saving Money than Making Money.
Saving money is a very important aspect of wealth creation, infact paying yourself first is the most important decision you make when creating wealth but the problem arises when you save more and forget about creating more sources of income. If u depend only on saving to get rich then you are making a big mistake, you need to consider other sources of making more money with your savings. That way, you tend to reach your goal more faster and without worrying much about your savings. So the lesson here is you should save to create more and more passive income.
#2. You Want to Get Paid Based on Your Time
A lot of people want to get paid based on their time and not the value they create. Let me explain; imagine having two different young men( Mr. A and B). 'A' wants to be paid based on his time and 'B' wants to be paid based on the value he creates. If the both of them starts out a new business differently, 'A' will expect to start making money fast due his input time in the business and 'B' will expect to create more value to his business before expecting any reasonable pay. Everyone knows a business takes alot of time and effort to start making good profit because you will need find clients, build a good management team, make good plans, etc. Which might take years to accomplish. So after all the struggle, 'A' will give up and 'B' will not. The lesson here is you should try to create value before you expect any pay, otherwise no one will enjoy working with you and you might keep on getting disappointed on the kind of payment you receive.
#3. You Haven't Started Investing Yet.
One thing many people fail to do is investing at an early stage. It is impossible to become financially stable without investing but people start investing only when they are about to retire which is a very bad thing to do because you can't expect to get much from such investment. You need to start investing fast and at a very early stage because if it's a compound interest form of investment, imagine your profit in 15 to 20 years time. Good investment is best form of money management skill you are expected to have to create real value in your financial life.
#4. You are Buying What You Can't Afford.
A lot of people want to have financial security but are fond of buying what they can't afford due to some social status. We really need to control our spending because at times we buy things that don't have much value in our lives just to look and feel good. Most people go to the extent of even taking loans to satisfy their luxurious needs. Luxuries of life are not yours in the moment, focus more on creating wealth and later you can get all the luxuries you desire.
#5. You Stop Learning After School.
Most of us fall under this category. The moment we graduate school, we stop learning. You all should know that learning is a continuous process, you can never achieve great success without constantly learning new ideas and innovation. Many business men and millionaires read constantly to update their knowledge because the world is also constantly changing. You have to read books, go to seminars, take new courses and learn from mentors in order to succeed and know how to create wealth.
#6. You Surround Yourself with the Wrong People.
What affect us most in our life is the people around us. When the people around you are not ambitious and not building themselves towards financial freedom, you will compare yourself to them relatively and most likely follow the same path. So always surround yourself with people who want the same thing you want and together you will be constantly learning, investing and growing, which will also directly lead to your success.
#7. You are Trying to Get Rich Fast.
If you are the type who is always looking for some fast way to get rich, then am sorry to say that you are wasting your time. No matter what path you cross in making money, if you really want a wealth that stay and pays you back then you have to follow the usual long boring road. Forget anyone who's saying you can make 300k in a week online or anything of that nature because they are all scammers who only want your money and not to help you.
These are a brief on the 7 behaviors that might stop you from getting rich. So if you want something real, you have to make a financial plan of maybe 10 to 15 years and get to work. Also make sure to stick with this plan untill you finally make it.
You can kindly comment on the comments section about what you think are other factors that might prevent riches.
Thank you for your time and Stay Safe.
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