THE FIRST STEP TO CREATING WEALTH: UNDERSTAND WHY MOST PEOPLE DON’T BECOME WEALTHY
One of the first personal development courses I ever took was an online training in 2014 from Brian Tracy on how to become financially successful. The first topic he covered was the five reasons most people DON’T become wealthy. I’ve learned over the years that understanding what NOT to do can be just as important as understanding what TO do.
NOTE: Wealth can (and should) be defined in many ways. In this context, “wealth” is referring to a large amount of financial means.
REASON 1: IT NEVER OCCURS TO THEM
The average person has never met or known anyone with extreme wealth. Most people don’t think it is even POSSIBLE for them because they have never “seen it to believe it”.
REASON 2: THEY NEVER DECIDE
Even if it occurs to them, most people never decide to fully commit to taking the action necessary to attain wealth. If you continue to do what you’ve always done, you’ll continue to earn what you’ve always earned.
REASON 3: THEY PROCRASTINATE
Most people consistently push wealth goals into the indefinite future for when they have more time, more energy, more savings, etc. If you truly plan to become wealthy, set a solid date to begin and stick to it.
REASON 4: THEY CANNOT DELAY GRATIFICATION
Most people struggle with the temptation to spend everything they earn, as soon as they earn it. If you cannot adapt budgeting as a life long habit, it will be impossible for you to achieve wealth.
REASON 5: THEY LACK TIME PERSPECTIVE
The ability to make sacrifices in the short term to gain long term benefit is a disciplined skill that must be mastered in order to become wealthy. Time perspective also impacts managing time when planning projects and making important life decisions.
Can you relate to any of the five reasons above? If so, it’s not too late! You can immediately begin to shift your thinking and start building wealth today.
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