Reasons why you are not rich yet
The reasons why you are not rich is not about your salary, have you not heard of low salary income earners that built wealth and are now millionaires. Many workers with good salaries end up broke just weeks after they have been paid their salaries i. What am trying to say is that attitude towards money matters.
Becoming a millionaire doesn’t have to do with your good salary package at the end of every month. It is the way you treat money that makes you become a millionaire.
Here are the top 10 reasons why you are not rich yet
You don’t pay attention to your finances
You have a mentality that when you make enough money, you will be able to pay bills without stress and that your finances will take care of itself. I tell you even the money comes without close attention to planning how to channel finances, you will still end up in the same mess.
This reason alone can keep from being a millionaire. Being a millionaire requires planning, it is well within your power to become a millionaire but you have to face and solve the problems that kept you from being a millionaire and then build wealth gradually.
You are afraid of trying new things that could fetch you money
You are afraid of taking risk, so you save your money in the banks which in the long run losses its value through inflation.
You invest in things you don’t fully understand
Mike made a lot of money from an investment he did and you say to yourself if Mike can make money from this investment I too can make money from it too. When you eventually try the investment and lose your money, you start thinking a spirit is monitoring you from the village.
Mike made money from that investment because he understood every bit of the investment before putting money into it.
You allow others to take care of your finances
You entrust your finances to financial managers or advisors, basically because they are trained on how to manage finances.
Everyone is wanting to get money from somewhere, they might tell to invest in something and you end up losing your money. What you should do is to get financial advice from them and manage your money yourself.
You want Quick money
Everything worthwhile takes time to manifest. Wealth doesn’t come instantly, wealth is planned and built.
You’re not prepared
Bad things happen to good people from time to time, and if you haven’t prepared for something bad that could happen through insurance. You will feel the impact greatly. Wealth built can be lost at any time.
You don’t have goals
It could be very difficult and challenge to build wealth if you don’t know what you want from the beginning. Financial Goals are like blueprints to build wealth.
You have a Bad habit
Smoking, drinking, gambling and any other bad habit take a lot of your money that should have been channeled towards building wealth. Most people don’t realize that their bad habit extends beyond the immediate cost.
You are not patient
You can’t wait until you have enough money to purchase an item. Being patient is waiting till an item fits your budget before making a purchase.
You care about what others think
If you are in competition with others on material items just to impress, you are wasting your hard earn money on irrelevant things. Channeled those funds towards building wealth, that why you need goals.
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