Many seek to get rich, hoping to get rid of the specter of poverty, but one of them may commit - consciously or unconsciously - a set of mistakes that are in place. In this context, self-made millionaire Steve Seabold has warned against adhering to outdated habits and traditional income thinking, which prevents you from becoming rich someday.
Although no one can predict the future, you have to beware of the following mistakes: they kill your chances of achieving the financial success you dream of.
- You focus on saving more money than focusing on pounds
Savings are very important for wealth building, but you do not have to focus too much on saving and begin to neglect earning and making money, which is the primary goal of anyone who craves financial freedom.
This does not mean that you stop using practical saving strategies. But you should start thinking like the rich. As Mr. Seabold says, "Stop worrying about running out of savings and start focusing on making more money."
Some experts say, "It's not about how much money you're making, but how much money you save," but that does not mean that money is being neglected. To save money, you have to earn it first. Therefore, the rich usually create several sources of income and follow smart saving habits.
- You have not started investing yet
Investing money is the fundamental foundation of the financial freedom that everyone dreams of. If you are planning financial success, start planning now for investment. The sooner you start investing, the better.
On average, rich people invest 20% of their income each year. Their wealth is not measured by how much they earn each year, but by what they saved and invested over time. The more valuable their investments are, the more they will benefit. "
The first step is to create a capital that can generate an acceptable income. And determine the amount of capital needed for investment and the income expected from it depends on the area in which it is decided to invest in it, naturally it requires you to know and experience a certain start to start sound in this direction.
- You only work for a fixed salary
Ordinary people choose to receive salaries based on their hours of work - depending on the system of fixed pay or hourly wages - while the rich choose to receive money based on the results and often self-employed.
"This does not mean that many high-income earners do not work hourly, but the fact is that this system is the slowest way to wealth, even though it's the safest," says Mr Seabold. Great people know that self-employment is the quickest way to wealth. "
As the smart people continue to build businesses, businesses and wealth-raising, Seabold says, "The public seems to be just a life of financial inertia and staying in the world of jobs at the mercy of a modest monthly salary and simple annual increases."
- You buy things you do not have the price for
If you choose to live above your financial ability, you will not become rich even if you start to make more money or get a big increase in your salary, do not start changing your lifestyle right away.
"I did not buy an hour or a luxury car until my business and investment started generating multiple permanent sources of income," says self-made millionaire Grant Cardon. In fact, even at the beginning of my life as a millionaire, I was driving a Toyota Camry. Be famous among people of your ethics and principles of work and not things you buy. "
- You are pursuing someone else's dream and not your dream
If you want to be successful you have to do what you love, and that means you decide and strive to achieve your passion and your dream.
Many people seek the dreams of others, such as their parents' dreams - a mistake - in the words of Thomas Corley, who spent five years doing research on self-made billionaires. "When you pursue someone else's goals or dreams, you may eventually find yourself unhappy with the profession you have chosen. Change your habits and change your life. It will seem obvious in your performance and financial returns. You will suffer to earn your day and you will not find the passion to succeed in your life. "
- Rarely leave your safe little world
If you want to build wealth or be successful or excel in your life, you have to get used to risk and live in a state of uncertainty and discomfort. In fact, many rich people admit they are comfortable with risk.
"The most important goal of the middle class is to have physical, psychological and emotional comfort," says Seabold. "But elite thinkers learn early on that the lives of billionaires are not easy and the need for rest can be devastating. Then they learn how to feel comfortable in a state of uncertainty and risk. "
- There is no clear goal for you
Money does not grow on trees, you have to work hard to get them. So, if you want to build wealth, you have to set a clear and definite goal before you build a financial plan to achieve your goals.
The rich choose to commit themselves to raising money and wealth. It takes focus, courage, knowledge and a lot of effort, but it is possible if you have specific goals and a clear vision, "said Harvey Ecker, a millionaire." The first reason people do not have what they want is because they do not know what they want. All the rich have a clear vision and one goal: to raise wealth. "
- Spend first and spare the rest
If you want to become rich, you have to pay for yourself first, that is to save for the future.
"What most people do when they make some money is to pay it to other people," says David Bach, the self-made millionaire in his book Auto Millionaire. They pay the money to the homeowner, the credit card company, the telephone company, the government and others. "
Related: 9 common mistakes among people in managing their money
Instead of spending money and saving the rest, you should save first. Save at least 10% of your total income and make the process