If you want to get rich one day, here’s some good news: In 2016, 78% of dollar millionaires came from poor or middle-income families. This means that each of us can get rich one day.
We wish you financial success. Now, take a look at the 10 things potentially stopping you from getting rich.
6. Your Decisions Are Influenced By Appearance
People tend to evaluate the same situation differently depending on the environment. This was confirmed by an experiment in which people were asked to evaluate products that were located in 2 areas, one with laminate flooring and the other with carpet.
Respondents who walked the carpet gave better feedback on the same products.
For example, when choosing a job, you may accept one with a good trade, while turning down another opportunity with better career growth.
So, to make decisions that will lead to financial success, try to make sure that visual attributes don’t affect you.
5. You Tend To Ignore Negative Things
We often tend to ignore difficulties and unpleasant tasks, hoping they will solve themselves. However, these things can hamper your financial success.
Negative comments from your boss, unpaid bills, conflicts, and more are keeping you from getting rich.
Being “Polyana” is an adjective given to people who tend to exclusively agree with positive comments about themselves, ignoring all negative information.
It originated in the book Pollyanna, a novel about a girl who could find positives in everything.
To avoid this mistake, try to take all the information into account and critically evaluate it. Accepting problems and receiving criticism is not easy, but ignoring these things can prevent the opportunity to improve.
4. You Underestimate The Influence Of Laziness
The researchers carried out an experiment in which people were asked to imagine that they were doctors who were choosing a type of therapy for a patient.
They had a choice: to try the treatment, which led to death in 15% of the cases; or not trying any treatment, which was fatal 20% of the time.
13% of people chose not to try any treatment because they would feel less responsible if the patient died. This cognitive trap makes us believe that doing nothing is safer than trying and taking risks.
It seems like being passive and watching TV doesn’t cost much, but think about all the time you waste.
You can work overtime to earn money, learn new skills, or think about your own business; it simply requires that you take the risk of earning additional income for the future.
3. You Don’t Use The Assets You Have
The number of users of the sharing economy is expected to double by 2021. For those who don’t know, the sharing economy is a way for consumers to share and use services either for free, for a fee, or through bartering and exchanging goods.
Some good examples of this are companies like Airbnb, Uber, and eBay. These platforms provide us with the opportunity to earn additional income from the assets we have.
You can rent your garage, your land, or even the tools you have. Take a look at your assets and see what can be useful to other people.
Creating an ad does not take long and will give you the opportunity to earn additional weekly income.
2. You Plan Your Budget For A Period Of Less Than A Year
Some expenses need to be planned many years in advance. If you want to buy a car, it is better to save money upfront rather than buy credit. If you don’t have long-term goals, you risk spending all your savings or getting a loan.
1. You Don’t Know Prices
Unless you are familiar with pricing, you will end up spending more. Marketers are adept at misleading us, which makes it tempting to buy deeply discounted products, but remember, the same product can be much cheaper at a different store.
What are you doing to get richer? Share the things that tend to get in your way.