3 Habits That Will Keep You Poor Forever | How To Be Good With Your Money – Our habits define who we are the things we do every day have a major influence on the different aspects of our lives, including our finances. Rich people have specific habits that drive them to gaining and retaining wealth.
In fact, their impressive financial stature are a direct result to the habits they maintain. On the other hand, poor people also have habits, but their habits do the exact opposite. They keep them from gaining or retaining wealth.
So what are these habits that keep people poor? I bet you’d like to find out stay with me, as i will be discussing three habits that will keep you poor forever and if you’re new to the channel then hit the subscribe button below for more life, changing content habit number one blaming others for everything you Want to achieve in life, you will experience your fair share of failures.
3 Habits That Will Keep You Poor Forever | How To Be Good With Your Money
These failures come as a result of bad decisions, and they could be really demoralizing at best and devastating at worst.
It is unfortunate that a lot of people do not realize that they are solely responsible for their destinies, and this causes them to point accusing fingers at everyone else, but themselves blaming others for your failures means you have subconsciously, agreed that the key to your wealth lies In their hands, this is a terrible mindset to carry if you ever plan to be rich or maintain the wealth you already have.
Some people blame the government and its policies for their financial troubles, while others blame family members, business partners, spouses, boyfriends, girlfriends, etc.
There are so many facts that come with blaming other people for your financial shortcomings, and i would like to go over a few of them now. First, blaming others still won’t make you rich.
This is the most obvious fact about blaming others for your problems. I’Ve never seen an instance where blaming another person will add a dollar to your pocket. It’S a total waste of time and emotions, as it bears no good fruit.
Guess what the people you blame for your failures, don’t care what you think! Some of them may not even know you exist for every failure. You experience in life. There is only one person to be blamed, and that is you. Rich people carry a mindset of self-responsibility.
They hold themselves accountable for their disappointments and work towards performing better. It is up to you to choose the right business partner, the right staff and plan your way to success.
If you must partner with someone for a business, be sure he or she has the same goals as you also investigate to find out more about the people.
You are having business dealings with if you were to employ staff interview them yourself, especially if you are running a small business. It is up to you to decide whether the person is qualified to work for you or not, and if that person will help grow the business or run it into the ground.
Next blame destroys relationships. When you blame others for your failures, you are automatically brewing. Some bad blood within you when you believe a person organization or even the government, is responsible for your poverty.
You will have no other emotions towards them, but hate bridges will be burned and you may lose some future opportunities that would have come from the same people. You blame finally laying blame: stops you from re-strategizing, since you don’t believe you are responsible for your failures.
You also want to see the need to make new plans that will lead you to success.
Unfortunately, the people you blame won’t make plans for you either they have their own lives to live and businesses to run. So why would they know this for a fact, the people you blame, don’t wake up every morning, thinking about you.
They are busy planning their lives and chasing their dreams. While you are there sulking over how it’s their fault that you are poor.
The moment you stop blaming. Others is the moment. You will start making plans for yourself which will help you reach your goals.
Habit number two focusing on low value activities. This is one sure way to remain poor forever as humans.
We engage in so many activities on a daily basis. There are activities that better the quality of our lives. While there are activities that worsen the quality of our lives, anything you do that adds value or is tangible, is considered a high value activity. On the flip side, any activity that doesn’t add any value to your life is considered a low value activity. For instance.
Spending three hours at work is a more valuable way to spend your time than spending three hours at the bar.
Sadly, it is very easy to focus on low value activities as they seem like fun things to do now. You probably know a few examples of low value activities, but let me explain why they need to be avoided.
If you want to improve your financial situation first, they steal your time everything we do consumes time. The clock isn’t going to stop and wait for you to get your act together before it starts ticking again.
Any time lost can never be gotten back. So it’s best to use your time for activities that will allow you to prosper.
Next, it steals your money. There are quite a number of low value activities that would cost you decent sums of money. Some could even take as much as half your salary.
If you are not careful, such activities include spending too much time at bars or nightclubs. This is a pretty expensive habit and it yields no profit. So why engage in it? This is not to say having a drink with a friend is bad.
O’M just saying you shouldn’t spend too much time or money hanging out in bars if you’re an upcoming entrepreneur, try and form a habit of going up for drinks only when you have something to celebrate or you’ve reached a certain milestone other than that it is best.
You save your money and invest it into other profitable activities. Finally, low value activities deter you from reaching your goals. The more you engage in low value activities.
The further away from your goals, you will be the only way to achieve success, is by engaging in activities that will drive you closer rather than farther from accomplishments. You want to achieve.
Do yourself, a favor and ask what high value activities can you do to better? The quality of your life – if you give yourself an honest answer, then you are a step closer to success.
Remember high value activities are those that push you to reach your goals and not the opposite. Some examples include working on a new business plan.
Learning new skills through training programs or videos, helping family members or colleagues achieve their goals, formulating a plan of action at the beginning of each day.
Spending time discussing business ideas with partners and exercising the examples. I’Ve just mentioned will certainly add value to your life and not remove it.
These are the kinds of activities you should engage in if you want to be rich now that you have an idea of what high value activities are, let us take a look at some examples of low value activities.
Also remember low value activities are those activities that add no value to your life. Neither do they drive you towards achieving your goals.
The first set of low value activities relate to actions and activities that produce negative outcomes for you or for others.
Activities like gossiping in the office at a time you should be working, will do two things: it will slow down your work and reduce your efficiency and it will destroy professional relationships.
This will lead to a negative outcome for you, your employees and co-workers next they’re spending too much time watching television.
Unless the show you’re watching is of high value, maybe a financial or fitness program. Then you shouldn’t be spending too much time watching television as there is nothing tangible to gain from it.
It’S okay to watch a show for entertainment purposes, as this will ease off stress of the day but be sure to not get carried away. Remember that you will still have to do work the next day and a good night’s rest is important.
You need to wake up, feeling, refreshed and fit to accomplish your tasks for the day. Then there are video games. Just like watching television playing video games can help.
You ease off stress after work, but you must not dedicate too much time to it. Video games can be addictive, so it’s up to you to remain disciplined and pull the plug.
When it’s time when it comes to consumables, you must steer clear of excessive drinking and drugs. I have mentioned this before about how they can steal your time and money. There’S something else.
Excessive drinking can steal from you, and that is your health. Not only will you lose money drinking, but you will also spend money on medical bills when your drinking habits start to put a dent in your health.
The same goes for drugs. They will take your money and stop you from focusing on your goals. Worse still, it could land you in prison.
Quite frankly, this is one of the worst low value activities you could ever engage yourself in.
Finally, there is many people’s top culprits. Social media, social media is great for reconnecting with old friends and it is an excellent platform for advertising your business to the rest of the world.
However, if you spend long periods on social media, then make sure it is for business reasons and not just for the sake of liking and commenting on hot pictures, as the former is more profitable than the latter habit. Number three disrespecting your money: how does a person disrespect his or her money?
Well, there are several ways this can be done. First, there is failing to save money.
When you earn money, it is important to save at least 10 percent of it. Money saved can be used for important expenses in the future, as well as investing and reinvesting.
When you don’t save and invest your money, it means you will keep working for more as opposed to having money work for you.
Next, there is careless spending. This is one of the worst forms of disrespect.
You can show your money when you go out and buy everything you come across. Even the things you don’t need, then know that you are on a path to remaining poor.
Many people suffer from the need to impress others, and that is why they send more than they can actually afford.
This habit will not only leave your pockets empty, but will also put you in debt.
Another way, people disrespect their money is by investing blindly. This is another mistake, many people make and they almost always lose their money in the process.
It is wrong to go into a business or invest in a stock without first studying the key elements of the asset. Remember this is hard earned money we were talking about and it would be sad to lose it just because you were too lazy to learn before investing.
Finally there’s gambling. This is also another form of disrespecting your money. People gamble with the hopes of scoring big winnings while putting in a very small investment.
The problem with gambling is that it is a hundred percent luck based, as the outcomes are very unpredictable. So why put your money into something you cannot predict?
Many people have lost fortunes on gambling. These include jewelries cars homes and physical cash. Gambling is also addictive, so stay far away from it.
The more you lose the more you gamble in a bid to recover your losses, and there are no guarantees whatsoever. You may manage to win a bet, but that would also be a problem, as this would lead you to gamble more also.
Winning a bet could push you to increase your stake, making your future losses even greater thanks for watching. If you want to go from the life you have to the life you deserve.