Being poor and unsatisfied with our life is something that the majority of us can relate to at some level. Rather your poverty comes in financial form, relationship form, or spiritual form, having less than we expect has a haunting sting that sticks with us. According to statistics at Global Issues, over three billion people on planet Earth live on less than $2.50 a day.
Where is the disconnect here? Is there a political or environmental factor that holds an individual back from being financially well-off or is it merely in the mind? While poverty and failed economic systems have thousands of underlying causes, located below are a list of the top 4 reasons you’re not where you want to be with your finances. Rather than taking a defensive approach of “none of this applies to me, this is wrong, this is a lie”, objectively look at your actions (or lack thereof) and pin point the issues holding you back.
- You’re Lazy
Be honest with yourself, if your bank account isn’t where you want it to be it’s because you’re lazy. Perhaps you work extensive hours at a job, but you falter in terms of furthering your knowledge base. Nearly 80% of wealthy individuals focus on a singular goal for the day while 12% of the poor do this. Many think that being a multitasker is conducive to success and that being able to jungle 5 things at 20% is better than focusing on 1 thing at 100%.
You may be disciplined in the physical aspect of your job, but you are lazy in the aspect of educating yourself in the ways of becoming wealthy. The men and women who perform hard manual labor for a living are the salt of the Earth and provide products and services that run the country. We need people like this and their place in the economic system is essential.
However, if your career begins and ends with manual labor and nothing more, you’ve failed. You need to devote your personal time to furthering your education either through reading, studying financial articles and literature, or seeking self improvement. The disconnect comes when an individual works a long shift and feels they’ve earned the right to be lazy and devote time and energy to non-productive actions. This is failed thinking in the sense that productive actions reward us for the rest of our life. Short term pleasures only feel good in the short period of time we perform them.
Similarly, you may be a person who has all the knowledge in the world but no work ethic to move forward. If this is you, refer to our article on how to build self discipline in your daily actions. You need to consistently put in the effort for your income to rise and expand into a positive cash flow. Without daily action put forth, your dreams will fail as quickly as you thought of them.
On the contrary, dedicating your free time to the further expansion of your knowledge base is the catalyst for accelerating your financial process. All wealthy people are experts in the field of self development and they’re always seeking material, products and services in which to better themselves.
- You Give Up Too Quickly
Another poison that with flood the veins of a person trying to pull themselves out of poverty is lack of toughness. You don’t spring back to action after you’ve failed at a particular task or job. You are constantly at the mercy of the economy and you like to play the victim game. Being in this type of mindset is detrimental to your finances and equates to low mental dexterity, poor self image, and the lack of desire for your end goal.
Living in a multimillion dollar mansion and being able to travel wherever and whenever you want is something we all wish to attain. But for most people that idea and thought stays in their head and will never become a reality.
Why does this happen? Because we’re obsessed with the end goal but don’t glorify the process in which to get there. You need to sculpt your thinking into one of hard work, discipline, self control, and patience. Be patient in your longing for luxuries but be excited and quick in your actions to get there.
The mass public publicizes the victories, money, and accomplishments but disregards what it takes in order to make that a reality. Let us not forget the times that successful people have failed in order to make their businesses work and succeed. You can be wrong a million times – you only have to be right once.
- You Think You Know Everything
The most dangerous characteristic that will keep you in poverty is arrogance of your knowledge base. Have you ever conversed with a person that was behind on their bills, lost their job, or got fired unexpectedly? They always know exactly why they were fired and will not budge from that idea that they’ve elaborated in their mind.
The most brilliant minds on the planet are wise because they admit that they’re not wise – that they don’t know. They’re constantly learning and evolving their ideas, goals, and mindset based on new economic changes, technologies, and information they receive.
The only thing that is certain is that nothing is certain. Adopt this thought pattern into your daily life and you will be surprised at how much things change in a short period of time. The ones who benefit, especially financially, from these changes are people who are not stuck in their ways.
Don’t fall in the trap of believing your own hype and Delusions of Grandeur over the actual circumstances that are being presented to you on a regular basis. Find the truth, even if it hurts, and work from that basis. Working from a base of truth, even if it’s painful, is magnitudes more powerful than deluding yourself and lying about your circumstances.
- You Don’t Make Goals And You Don’t Plan
“I’ve made tons of plans but none of them ever came true!” You might say when asked about your goals for the future. The New Years resolution participants are a prime example of how goals aren’t enough to get the results that you want.
Making goals is easy: take out a pen and paper and start writing down your wildest fantasies. This is the fun part of mapping out success. The hard part is the tangible steps that need to be taken in which to attain those fantasies. Making a million dollars by this time next year sounds great – imagine the possibilities! But the reality of the situation is that you need to make over $83,000 a month to attain your end goal. Then the common mistake is to lower the goal or revert back to #2 (giving up too quickly) and your dream instantly dies.
Don’t be intimidated by your goals. If anything, intimidating goals are the ones that you need to surround yourself with in order to eliminate the scared mindset associated with the daunting task. Iron sharpens iron and confronting your fear is the easiest way to conquer it. Make actions and plans in which you earn $83,000+ a month and start creating your future around those tactics.
Don’t just be a dreamer, be a doer. Give yourself the reputation of a person who created an elaborate dream for their financial future and earned it. Put your emphasis and your mental focus on the tasks required to get there and the goal is yours for the taking.
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