Disclosure: This article consists of affiliate links. As an Amazon Associate, I earn from qualifying purchases by linking to Amazon and affiliate sites.
Many of us work 5 days a week and sometimes 7days and wonder where the money is going, or we have nothing to show for it. And most of the time, we don’t realize that there are some habits that we are not aware of that are keeping us in the red or keeping up from rising. In this article, I will point out some habits which are keeping you poor and if you resonate with any of them, my advice to you is to get out of it and do it pronto if you want to become wealthy at some point in your life.
Consistently gambling and buying lottery tickets– Raise your hands if you have purchased lottery tickets at least twice in your lifetime- I think that we can all attest to the fact that we have felt lucky and have run down to the convenience store to purchase a lottery ticker only because we got a hint, or our hands were itching as my mother would say. My next question to you is blink your eyes if you have won a large sum of money from the tickets that you have purchased?
My friends, I’m sorry to tell you that you are wasting my time and money purchasing lottery tickets. The possibility of someone winning the lottery is quite thin these days. Gambling is no exception. Actually, buying the lottery is gambling. Be smart and limit on your gambling habits and save yourself some money.
Spending too much money on wants. We live in a world where the level of advertising and marketing is at top- notch and social media has made this possible. Everywhere we turn, there is something that we want to buy or something that we wouldn’t mind having. I am here to tell you that the minute that this want has been satisfy, we no longer feel the need for it anymore. We then move on to the next and the next and the next until our entire paycheck is blown away. Let’s all get smarter about how we spend our hard earned money.
Trying to keep up appearances or trying to keep up with the Jones- We’ll all heard this over and over again and yet still we can’t help but trying to purchase a better car than what your friends or neighbors have. Little do you know; the Jones are trying to keep up with you. So pay no mind to what others have and get what you need based on how much you can afford.
Having one source of Income- If you live in North America- having one source of income will not cut it! There are just too many bills to take care of. By the time that you’re done with bills and taxes, there are very little left to do anything, let alone save. One needs to have multiple sources of income to make it in this world- Have a look at any of our famous billionaires- They have a million-thing going on, large investments, different businesses everywhere and not to mention, they do it passively.
Wasting money on entertainments-A lot of us are guilty about this one. Why go to the movies when Netflix is cheaper? The cost of a beer at a bar is equivalent to the cost of a pack of beers in the beer store! Think about it. Wouldn’t you get the same effect if you entertain at home?
Not learning to invest- We hear it over and over again- Invest! Invest! Invest! – One of the ways for your money to make more money is by doing very little. For some, it may be intimidating to invest at first, but once you get the hang of it- You’re gold. If you need help, use a good financial advisor and they can either teach you or do it for you, or better yet- take a class- it’s really not that complicated.
Not asking for a raise or increasing your salary- I have seen a lot of people stay in their job year after job on the same salary or they simply accept the small increase from their company at the end of the year. People- when you are in a job, you learn additional skillset that another company or team will pay for. Also if you think about it, the company makes more money every quarter or year. When you do not get ask for a raise where do you think the extra money goes? Brush up on your Resume and go get your raise in salary. If you need a few pointers on this- checkout this book which has helped me do just that.
I hope that I have given you more than enough to think about. These habits will not only keep you poor but they prevent you from become wealthy.
If you think of other habits which prevents you from being wealthy, drop us a comment below.
If you like this article subscribe to our Newsletter and follow us on: