So why aren’t you rich?
Remember back to when you were a kid and you had dreams of travelling around the world visiting exotic places?
Or did you dream of being a rock star or a sporting great?
Or perhaps you dreamt of being a Doctor and finding a cure for Cancer?
Or maybe you had a dream of being rich and doing all these things and many more?
So what happened?
You work hard, you are a good person and you try to save your money and spend it wisely.
One day did you suddenly realise that life has got in the way and your dreams of being rich and living the life you imagined as a child are a distant memory?
So why aren’t you rich yet?
There must be a reason?
After doing some extensive research I have come up with seven reasons why most people don’t get their finances under control, get rich and become financially free!
Reason #7 – Lack of Income
I know this is stating the obvious, but not earning enough money in the first place is a major reason for a lot of peoples financial struggle.
This a big reason why I am a great believer in self-education, personal development and committing to being a life-long learner to help expand your earning capacity.
I also believe everyone should have an income accelerator in the form of a part-time business to increase their cash-flow.
Reason #6 – Family commitments
We all love our families but getting married, having kids, buying a house with a big mortgage and all of our other family commitments are a huge drain on our money.
Our lifestyle also comes in to this category.
While wanting to take care of our families in style and provide them with the lifestyle they deserve is commendable and can also be a major motivation to get rich in the first place, keeping up with the Joneses can easily have the opposite effect and hold us back financially.
Reason #5 – Lack of discipline
While people can have every intention to change their financial situation and start out with all these great plans, having a lack of discipline and then falling back into old habits is all to easy and common.
We are creatures of habit and we will generally follow the path of least resistance.
Reason #4 – Believe that managing your money is too hard and takes too much time
This is a big one because while managing your money does take a bit of time, like anything else it is a learnable skill.
But with this belief people just don’t even start to take their first steps to financial freedom.
Reason #3 – Too much debt
Having too much bad debt such as credit cards and personal loans is a major cause of not getting rich and must be eliminated.
Another big trap is having a huge mortgage that you can’t afford or buying investment properties that are a huge drain on your cash-flow.
While investment properties are good debt and a great way to increase wealth, if you bite off more than you can chew and you are strapped for cash, it just isn’t going to work.
I know of this first-hand because I have made this mistake myself personally!
Learn from other peoples mistakes and don’t try and re-invent the wheel.
Reason #2 – No Money Management System
Most people either wing it or have a dreaded budget which creates overwhelm and they never stick to it.
What is needed is a Money Management System that takes a holistic view of all aspects of your money.
A system that is simple, one that actually works and will make you rich!
The money management system that I use personally is used by multi-millionaires and it has got me out of debt and on to My Road to Financial Freedom.
The #1 Reason why you are not Rich – Not having the right mindset to be Rich!
Just about anyone has the ability to be rich with the right mindset!
First you must decide to be rich.
Then commit to be rich.
Then believe you can be rich.
Then go out and take the actions to get rich.
Just do it.
To be rich you must think rich.
To be a millionaire you must think like a millionaire.
Your mindset will either get you to where you want to go or it will stop you in your tracks.
Like anything else, making money, investing and business are learnable skills.
Just get educated, take action, don’t give up and just do it!
So are there any other reasons why you aren’t rich?
Let me know your thoughts in the comment section below.
Until next time I am John W. Newman and always remember…
Dream It… Believe It…. Then Achieve It!
Love social media?