In a way, being poor doesn’t mean being limited in just finances. It’s a plan for our life that we make with our thoughts. There are many examples of poor people becoming rich without inheriting anything and without the help of rich relatives. Sometimes a person has all the will and abilities to make big money, but their insecurities won’t let them take the first step. And also there are a few habits that you need to get rid of before you can improve your financial situation significantly.
We at Bright Side found 8 things that might be holding you back from making money and examined the reasons why many people find it difficult to shed the poverty mentality.
If you stopped working, you wouldn’t be able to support your way of life for more than 3 months.
When a person has a fixed income, their lifestyle adapts to it. How long can you have a comfortable life relying only on your savings? A rich person is someone who can live at the same level for a year. And if you can’t even last 3 months, this is something you should worry about. Make sure that you have enough money in case something happens. Put aside some money every month, or even better, try to create a source of passive income: like acquiring some property or stocks.
Looking for “sale” signs, trying to get something for free, making other people work so you don’t have to — these are the indicators of a poverty mentality. A rich person is ready to pay the real price for something and compensate his or her employees for their work. It’s because a rich person knows how important a good and appropriate salary is. This is what they expect from others.
You try to get something for nothing.
You spend more than an hour to getting to work.
How many times have you heard the expression “Time is money?” You can always earn more money, but you can’t buy more time. If you spend 2 hours a day on the road to work, calculate how much time you spend a month. The time that you spend on you the road could be spent on something more useful and enjoyable. So, the best thing you can do is to find a place near the office or find a way to not spend so much time driving. If you can’t avoid a commute, use this time the best way you can. Read books or study a foreign language, for example.
You have bills that you can hardly pay.
A phone on credit, a car on credit, furniture on credit, a trip on credit… There is a rule that says that the money you spend should not be more than 40% of your income. This is the line you shouldn’t cross. If you do, you can forget about a calm and comfortable life. Don’t try to take on more than you can really afford. It’s better to follow the lead of your income as it raises gradually than to buy a lot of things all at once and eat ramen for the rest of your life to accommodate your spending. You lose quality of life this way and end up being “owned” by the things you have until you can pay them off.
You want everything now.
When looking for a job, some people only pay attention to the amount of money they will earn. Others seek and find a job where they can learn, grow gradually, and think about how they can use the knowledge they will gain in the future. It’s better to get a job at a good company with a small salary because here you will be able to build a career and will end up earning way more in the future. Don’t get so focused on details like how much money you make for one week of work, look at the bigger picture and consider how you want to grow yourself and your career. Students love saying that college and education waste time that they could have spent earning money. Students are young and often don’t understand a lot of things. If you have a good education, the chances of getting a well-paid job are much higher.
You spend money before you earn it.
“Buy now, pay later” is a favorite phrase of many banks that offer credit cards. In the past, people only bought things that they really needed on credit. They were big things like cars and homes. But now, they use credit cards all the time, paying for clothes and devices even before they have the real money in their bank account to pay for it. Banks offer long periods with no interest which is another trick that they use. So while you don’t pay for it today, you will still need to pay off the debt. Then once you pay it off, you’re out of money again and are forced to use the credit again. How can anyone plan anything and save any money in this situation?
There are many people who are convinced that they can only become successful if they are alone. But in fact, it’s the opposite: a person can’t build a successful career without family support. Many people achieve success thanks to the support of their family and others destroy all they have when they leave their families hoping to achieve more. A person without a normal family is a lone wolf and it will be hard for them to develop and grow alone. Only love can help you get up and continue fighting when there is little to no hope. This is how true success is achieved.
You are estranged from your family.
You expect the government to take care of you when you retire.
People in the poverty mindset often blame everyone except for themselves for their shortcomings, and the government is no exception. Government officials can only pass laws that help the economy in general and not someone on a personal level. People love saying: “I worked for my entire life, they have to pay me back now!” But in fact, all these people did was try to avoid paying taxes by any means possible. People get good pensions only if they really worked hard and properly paid their taxes to the government. In the end, it’s up to every single person individually to have a good life. The rules of the game may change, the government may change, but your success shouldn’t depend on anything but you.
Do you agree that your mentality can sometimes hold you back? Tell us what you think in the comment section below!
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