‘Money doesn’t buy happiness.’ How often have you come across this phrase? While this must be true, it goes without saying that money is surely an element of happiness since it keeps you secure in times of crisis. It also gives you the bandwidth to help others, including your family and friends. Becoming financially wealthy isn’t an overnight process, and one needs to have a positive mind-set and develop habits that help in creating wealth.
Perhaps you have wondered what exactly stops people from becoming rich. While some people seem to have it all, be it wealth, cars, or successful careers, the rest simply can’t get past their paycheques. If you think you belong to the latter group, here’s what you’re probably doing wrong:
How often have you seen your friends owning a certain piece of technology (read latest iPhone) and decided that it was time to change yours? Irrespective of your budget or means, it’s your friends, relatives, or another outside influencer that decides what you are going to spend on. Always remember that after fulfilling the necessary expenditures at hand, what is left is what you save.
Unhealthy habits attract negative energy. When you ignore your health, eat whatever you can get your hands on, stop exercising, and do not pay attention to hygiene, that’s when you see a decline in everything including your wealth. Wealthy people have good habits and stick on to them. These habits determine their level of success as well.
When you continue to do what you don’t like, your chances of improving at it are minimal. Not only will you be wasting your time but others’ time as well. When you continue to do this, your career growth will take a big hit, which eventually will stop you from scaling up financially and otherwise. The best thing to do is to go out there and do what you really think you like or are good at.
Make those investment and insurance decisions now! Do you have a dormant bank account that you didn’t even realise existed? Then it’s high time you look into it. Systematically look into your investments. Weeks will soon turn into months, which will turn into a year, and by that time you may regret it since it is too late. Procrastinating such decisions for the future will interfere with your way of life later.
Living in a closed environment curbs your potential to grow. Sharing ideas and thoughts with others makes you more aware of your scope for improvement. It also helps you build contacts which may help you later on. Some people fear talking it out with others as they think they may be judged. On the contrary, communication can enrich them both intellectually and financially.
Remember, you are the only one who can take yourself forward. So why not start now?