Reasons Why you are Still Stuck in a Financial Rut – And How You Can Fix Them

There is nothing more frustrating than getting stuck financially.  What’s even more frustrating is seeing your friends and family making financial progress while you are still stuck in the same place year in year out. But why is it so difficult for you to move ahead financially? Here’s why:

Poor saving habits

When you don’t have a consistent saving plan, staying stuck is bound to happen. Saving is like paying yourself for all the effort you put to work. Make a habit of rewarding yourself every month without fail, and you will see progress.  Even if you don’t make enough money, sacrificing a little won’t kill you.

Bad adopted habits

These are bad habits picked up from maybe your dad or a friend. If, for example, your dad had a history of misusing his and other people’s money and lying about where the money was going, it’s likely that you may also follow that pattern. But you don’t have to go down that route; you can still resist that temptation and learn from your dad’s mistakes.

Once you figure out the incentives that are driving your bad habits, it would be easier to get rid of them.

Trying to match the lifestyles of others

One of the reasons why you could still be stuck in a financial rut is trying to keep up with other people’s highlight reels. Just because your friend is always on vacation doesn’t mean you have to go as well. Sometimes the pressure of keeping up is too intense and you end up taking a loan to finance your vacation/lifestyle.

If you want to stop living from paycheck to paycheck, don’t give in to pressure to spend cash you don’t have. You can start with; creating a budget that works for your lifestyle, setting boundaries, making choices that align with your values and resisting the urge to keep up.

Setting unrealistic expectations

Sometimes setting unrealistic expectations can make us go downhill very easily. Once you don’t achieve these expectations, you deem yourself as a failure. And the little progress you had made will sink as well. Hence, you don’t even see the need of trying anymore.

Set achievable goals, but be careful not to limit yourself too much if you want to get ahead financially.

5 Reasons why You Will Never Become a Billionaire

Billionaires aren’t born, they are made. Well, okay, maybe some of them are born in the rich family. However, born rich doesn’t mean you will stay rich. Just like born poor doesn’t have to mean you have to be poor your entire life.

Today we will discuss homemade billionaires. These people do thing differently. They are different because they’re not trying to be the same as others. They don’t follow rules but create their own rules. They don’t pay attention to other people’s opinions but listen to their own inner voice.

Anyway, these aren’t the only determinating characteristics of someone who became billionaire alone. Keep reading and find out the other qualities of these people and follow their steps. If not, you will never become a billionaire.

You have no ideas and dreams but you want to make big money

People often don’t know what to do with their lives but they know they want to be rich. It doesn’t work like that. In order to achieve your dreams, you must have a dream first. In order to realize your ideas, you must have an idea first.

People who don’t know where they’re going, never get anywhere. Make sure you know what you want and be precise about your goals. Billionaires are successful because they’ve achieved their dreams and realizes their ideas in order to help the world. Before you start a war with life, make sure you know what you’re fighting for. Otherwise, you will lose from the start!

You have no proper and detailed plan to work by and make big money

Having a proper and detailed plan is crucial to achieving what you want and make big money. Start small. Make small steps and be patient. Follow your gut and if your plan A fails, have a backup B plan. If that plan fails, don’t forget you have the other letters of the alphabet. And if those plans fail too, turn to the Chinese alphabet but never give up! Losers aren’t the people who’ve lost a few battles but those who’ve given up the war!

You neglect your talent and work something you hate and despise

If you’re not doing what you love, you’re wasting your time and energy. And you’re certainly won’t make big money. It’s simple as that. Find what you love and use it to transform your life. Be passionate about your work and money will come.

You hurt and take advantage of others to achieve your goals

Building empires over someone else’s ruins never work. If your goals require you to hurt and take advantage of others, you need new dreams. Instead of hurting people, your dreams should help them in some way, inspire them. Otherwise, what you build will never be successful. And if it becomes successful one day, it won’t last long!

Your only focus is money, money, money

If you only focus is money, then you’re losing your time. Your dreams should realize you as a person. They should improve your life and make you a better person. If you’re only interested in money, you will never become a billionaire.

Now, Check out What it Takes to Be a Billionaire!