There are common mistakes that prevent the majority of people from becoming wealthy.
1. It never occurs to them to become wealthy
The average person has been growing up in a family where he’s never met or known anyone who was wealthy, he goes to school socializes with people who aren’t wealthy, he works with people who are not wealthy, he’s a reference group or a social circle outside of work who are not wealthy and he has no role models who are wealthy.
If this has happened to you throughout your formative years up to the age of 20 or so you can actually grow up and become a fully mature adult in our society and it may never occur to you that it’s just as possible for you to become wealthy as for anyone else. So the first reason why people don’t become wealthy it’s because it never occurs to them that it’s possible for them and of course if it never occurs to them they never take any of the steps necessary to make it a reality.
2. They never decide to become wealthy
The primary cause for underachievement or failure is that the great majority of people don’t decide to become successful. Even if a person reads a book or attends a lecture associated with people who are financially successful, nothing changes until he makes a decision to do something different. Even if it could occur to a person that he could become wealthy if he just do certain things in a certain way, if he doesn’t decide to take the first step, he ends up staying as he is. If you continue to do what you’ve always done you continue to get what you’ve always got.
3. They procrastinate
People always have a good reason not to begin doing what they know they need to do to achieve financial independence. It’s always the wrong month, the wrong season or the wrong year. There always seems to be reasons to procrastinate. As a result, they keep putting off month by month year-by-year until it’s too late. Even if it occurs to a person that he can become wealthy and he’s made a decision to change, procrastination will push all their plans into the indefinite future and nothing will ever happen.
4. They are unable to delay gratification
The great majority of people have an irresistible temptation to spend every single penny they make and whatever else they can borrow or buy on credit. If you can’t delay gratification and discipline yourself to reframe from spending everything you make, you can’t become wealthy.
5. They lack of time perspective
The lack of time perspective is defined as the amount of time that you take into consideration when planning your day to day activities and when making important decision in your life. The young couple that begins putting $50 a month aside in a scholarship fund so that their newborn child can go the college of his choice, is a couple with long time perspective. They are willing to sacrifice in the short term to assure better results and outcomes in the long term. People with long time perspective almost invariably move up economically in the course of their lifetimes.
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Do you agree with these points? Do you have something to add? Let me know in the comments below!