I’m sure you are not going to like what I have to say. I’ll come right to the point; you are not rich because you choose not to be rich. Before you throw a punch at me, hear me out! Please!
It’s a Matter of Choices
Our lives are an endless stream of choices, so many forks in the roads we travel, and no small number of missed opportunities. This is true for everyone. Normally, I don’t spend my life lamenting the choices I’ve made, nor should you. Simply accepting that you are where you are in life because of the choices you’ve made is sufficient. People say that you can’t correct a problem until you acknowledge there is a problem—right? In much the same way, you can’t make better choices until you accept the fact that you have made a number of bad choices in life.
Don’t dwell on it! Don’t fall into a state of depression over it! Just fix it going forward! That’s your takeaway.
It Isn’t Your Fault
Most of us have come to maturity in a society that doesn’t score ball games, doesn’t grade students beyond pass/fail, and doesn’t view anyone that fails as having done so as a result of their own poor choices. Instead, they are viewed as victims. Victims of a bad childhood; victims of a poor neighborhood; victims of broken home; victims of drug abuse; victims of poverty—the list of excuses is almost endless!
Anyone, with any street sense, knows that if you look like a victim … you will be a victim! If it walks like a duck and quacks like a duck … then, my friend, it is a duck!
It isn’t your fault that you are strutting through life acting like a victim. That is the way you were trained to view yourself in our present day society.
Changing the Victim Mindset
The first thing you need to do to change this is to accept personal responsibility for your choices. Make up your mind that no one is responsible for your failures, financially or otherwise, but you. Accept that you are the victim of your personal choices and no one else is to blame.
Once you have altered your paradigm, once you have refused to accept the notion that you are a victim, you can achieve whatever your mind can conceive.
5 Reasons You Aren’t Rich
1.) You haven’t set any goals. Not having short, medium and long term goals is akin to be adrift in a lifeboat with no navigational instruments. You just float around aimlessly until you run aground somewhere.
Establishing goals gives you direction … a destination. You need to know where you are going in life. Do you want to be a feather or an arrow?
2.) You procrastinate. You have decided that tomorrow is the world’s greatest labor saving device. You have no sense of urgency and, as a result, the can gets kicked down the road until one day … you are out of road!
Break this habit! Never put things off. Do them now! Think about it … how many opportunities have you had to pass up because you were busy doing something that you should have done yesterday?
3.) You aren’t living beneath your means. Yes, you read that correctly!
If you don’t create a budget that forces you to spend less than you earn, where will the savings come from that you need to begin an investment strategy? If you live paycheck to paycheck now … you will live paycheck to paycheck for the rest of your days.
4.) You aren’t earning up to your potential. You have a job and you are earning a decent wage, so that’s good, right? End of story!
That’s fine, as far as it goes, but it doesn’t go far enough. If you don’t hunger for more, for you and for your family, you will not achieve wealth. You need to strive for your boss’s job and if that’s not practical (in your view) then get a second job, side business or gig that will bring in extra money. Do something to generate extra income. Stop wasting your life playing video games, checking your Facebook page and watching YouTube videos.
5.) You aren’t automated. Say what!
Good habits are difficult to maintain. We all fall prey to temptations in life. One cure is to automate your savings and bill paying. Setting up an automatic withdrawal for savings is an excellent means of building that investment fund. Do the same for recurring bills. These things are important and shouldn’t be left to chance when today’s technology makes back-sliding a thing of the past. Automate!
This list doesn’t cover everything, of course! I’m sure our readers can add several more, and I hope they will in the comments. Nevertheless, these five things are a good start.
The most important thing I hope you will take from this piece is that accepting personal responsibility is the key to achieving wealth. You cannot truly take personal responsibility if you always see yourself as a victim of circumstances. While circumstances will not always be in your control, how you react to those circumstances is within your control.
What about You?
What do you have to add to this list?