Apart from misfortune (say, God forbid), laziness and time wasted on small talk, one other cause of poverty that I can think of without blinking is a very common attitude with many of us.
Before I tell you about this one factor that prevents many people from gaining financial independence, help me say a big no to laziness and small talk.
These two cannot do you any good ever.
As we prepare to step into another significant segment of the year, my question to you is this: Is your NO to laziness and time-wasting small talk enough?
Fact is, your NO to these two villains must be strong enough so that it can pave the way for you to take action on your dreams.
One question: Why is it that some never realize their dream of financial freedom despite their hard work and self-leadership?
Here is your answer.
As soon as they make the money, they want to show to everyone around that they have arrived. So they act rich instead of taking steps to build a solid foundation for future wealth.
Acting rich may give you an instant good feeling. It may make you appear prosperous in the eyes of the world. But are your really rich? No, you aren’t! All you’re doing is throwing rough sand into your own eyes. Soon it’ll begin to hurt.
Do you wish to build a more solid foundation in the coming months for your future prosperity? Then you need to resist the temptation to make people think that you’re a “rich” woman or man now.
You can do so in the following ways. These are the commitments I’m making for myself as I move over to the next stage of this year’s journey.
- Avoid acquiring extra stuff.
- Do not borrow money to buy fanciful stuff or things you may not use in the next few weeks or months.
- Cut all other credit purchases to the barest minimum.
- Feel content with your chosen frugal way of living.
- Resist the temptation to compete with that colleague or neighbour.
- Draw and faithfully implement a wealth-building plan.
While you make daily efforts to avoid acting rich, you also need to quickly start building wealth. That is when your personal wealth-building plan will come in handy.
You will have to consider the following steps.
- Start a new small business. That is if you haven’t started one yet. Just make sure you do not spread your resources too thin with new additional startups.
- Plough back a significant portion of your profits into your existing business.
- Acquire the necessary tools to learn a new skill or to acquire relevant knowledge.
- Buy assets instead of liabilities
- Make sure you enjoy the trip. Pamper yourself once in a while.
So, there you have it. It is easy to try to let the world know that we are doing well financially. After all, all it takes is a loan from here and there, some expensive purchases on a credit card, or spending all the income as soon as it comes in.
But you and I know this truth: Acting rich can never be the same as being wealthy. That is why you need to avoid falling into the acting-rich trap.
Are you ready to at least attempt to build wealth for the future? Come, join hands with me.