Reasons why you’re not financially stable.

Not everyone is ready to achieve financial success and that’s for a good reason in this article we will take a look at behaviors, practices, habits, overall lifestyles and signals that shows that an individual is not ready to be rich

Money doesn’t come cheap it takes way more effort than you actually think, it demands you to evolve and do something else, to be smarter and work harder to be able to make sacrifices which maybe you are not willing to make at this point.

YOU CANNOT SAVE MONEY.

It’s easy to make excuses about why you can’t save money. My parents never taught me about money. I’m just no good with numbers. I don’t make enough to save money.

These are just a few of the mental roadblocks you might be putting in the way of your path to saving. Until you defeat these bad money attitudes, you’ll find it difficult to really get serious about becoming a saver.

Changing how you view money may not happen overnight but the more work you’re willing to put into it the bigger the pay off will be.

YOU EXPECT TO GET RICH QUICKLY.

Many people spent years trying to build wealth in order to secure their future financial stability and building wealth doesn’t happen overnight but rather it takes years of struggle, getting in debt from loans you took to start a business, the depression that comes with it and so forth in order to make it.

If you still find yourself falling for the get rich in 5 days ”pyramid schemes” or wishing to have quick wealth obtained from winning the lottery or from your parent’s inheritance money just know that you won’t get rich anytime soon or ever because wealth is built and it takes years of suffering and saving up, keep in mind that easy money doesn’t last.

Everyone wants to have financial security despite the economy, buying things they could afford before and having time to do things they love instead of slaving away at a job they truly don’t enjoy.

The reality is that money is a tool, it provides you with a means to provide nicer material things for you and your family, but don’t be desperate for easy money instead find ways to make money work hard for you, not the other way around.

YOU WAIT FOR THE RIGHT TIME.

You don’t have to feel overwhelmed or afraid but to use what you have now, focus only on what is in front of you and start now. It’s easy to say, “I will start when I have more experience, money, time and resources”. By this time next year, you will have a lot more excuses. It’s a cycle. And once you get caught in the loop, it can be difficult to break free and do something meaningful you care about.

Most of us live with the stubborn illusion that we will always have tomorrow to do today’s work. We consistently hold on to this belief and keep procrastinating until work becomes a heavy burden.

YOU THINK HARD WORK IS ENOUGH.

 

Basically hard work is a requirement to be well off but hard work itself does not mean you will succeed. Hard work is necessary to achieve a goal but its not always the case where someone succeeds through hard work only.

Most worthwhile goals require hard work and may take days, weeks and even years of consistent effort. The people at the top of any given field didn’t get there just by working hard.

Building wealth and maintaining it requires skills that need to work together to achieve the goal. Hard work and discipline work hand in hand.

These days your ability to leverage technology to your advantage is actually one of the skills one can possess. Your ability to discipline, motivate, learn. adapt and leverage the technology available to you its a step to getting rich.

SPENDING TOO MUCH TIME ON ENTERTAINMENT.

How much time do you waste watching mediocre tv shows or playing video games? With every hour a day, you make a choice on what you spend it on.

Some people blame the television for society’s violence, consumerism, and misinformation, while others see it as a rich resource for education and global understanding.

It’s a waste of time for those who are chasing wealth because they spend too much time trying to find strategies that meet their product line and future goals.

Watching television fills the time a person might have spent doing important, enriching things like interacting socially with other human beings, being physically active, discovering the outdoors, reading, using one’s own imagination, or accomplishing other things like working or doing homework or chores or spending time with enriching hobbies like art, music, etc.

YOU DONT READ FOR GROWTH.

Reading books is the key to personal growth because books don’t just expose us to the new world but to new thoughts, ideas, and words.

Reading can be entertainment but what most do not realize is that it’s also a growth environment, read to grow not to be entertained.

Technology allows you to have access to that value at the lowest price, you just have to get it, these days we use smartphones(audiobooks) to read instead of visiting a library

Reading books will make you a good communicator, this is why avid readers are usually more articulate and can express themselves better.

Reading opens our minds and makes us less susceptible to “cognitive closure” – a psychological term for an inability to cope with disorder and uncertainty.

This is important because being able to embrace change and chaos makes us more creative and sophisticated thinkers. Readers, therefore, are better at both tackling challenges in life and at overcoming them.

YOU RELY ON ONE SOURCE OF INCOME.

Never depend on one source of income but make investments to create a second source. If you don’t have a passive income you’re living a risky life, because we all know that there is no security in a job even if its a high paying one.

There are different ways to earn passive income:

  1. Make youtube videos.

This is a venture that is growing rapidly. You can create videos in just about any area that you like — music, tutorials, opinions, comedy, movie reviews — anything you want . . . then put them on YouTube. You can then attach Google AdSense to the videos, which will overlay your videos with automatic ads. When viewers click on those ads, you will earn money from AdSense.

2. Try affiliate marketing and make sales.

This is a passive income technique that is better suited to people who have blogs and active websites. You can sign up to promote certain products or services on your site, for which you will be paid either a flat fee or a percentage of the amount of the sale completed.

3. Put your photography to work on the web.

Do you like photography?

If you do, you may be able to convert it into a passive income source. Photography websites such as Shutterstock and iStockphoto can provide you with platforms to sell your photos. They may offer either a percentage or a flat fee of each photo that is sold to a site client.

4. Wite an E-book.

 

This can be a lot of work upfront, but once the ebook is created and marketed it can provide you with a passive revenue stream for years. You can either sell the ebook on your own website or offer it as an affiliate arrangement with other websites that provide content related to your ebook.

5. Sell your own products on the internet.

You can sell just about any product or service that you like. It could be a product you have created and can manufacture on your own or it could be digital in nature (such as software, DVDs, or even instructional videos).

You can set up a dedicated website for this product or service unless of course, you have a website or blog already in place.

From this article, you will learn that having the wrong mindset about money can hold you back from the wealth you deserve.

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