10 Reasons You’re Still Poor

#6: Poor People Choose Bad Mentors

You must be careful who you choose as your mentor. People without money are very quick to offer their advice, and the world is full of people who claim to be life coaches, business coaches, or success coaches. The scary thing is that most of them haven’t achieved anything. If you find a life coach on the Internet, how do you know they’ve actually achieved something?

On the flip-side, rich people can make for bad mentors, too. In the movie Wall Street, the character Gordon Gekko says, “Greed is good.” I thought that greed was something from which I could draw motivation.

The truth is that greed is not good. Ambition and passion are good. Greed is destructive. The first thing that happens when you get greedy is that your ethics become compromised. You want to make as much money as you can, as fast as you can. And it doesn’t matter who gets hurt along the way.

Money Shark, Businessman, Greed, Empire

However, if the person you are modeling yourself after is motivated by greed, you do not need to follow in their footsteps entirely. You can pick and choose which characteristics to emulate. You can emulate their ambition, but not their greed. You can incorporate their strategies without incorporating their ethics.

Be careful with who you pick as your mentor. Don’t pick the unshaven guy on the side of the road wearing the dirty sweat pants, and don’t choose the guy whose decisions violate your ethics.

#7: Limiting Beliefs About Life and Money

Poor people believe they are creatures of circumstance, life happens to them. Rich people on the other hand, believe they are creators of circumstance and they create opportunities within their lives.

There isn’t any more destructive belief in the world than to think that life happens to you. Here are three things that happen to you when you believe that you don’t create your own destiny:

1) You play the blame game. You blame anyone and everyone for why you don’t have what you want. You blame the government, your family, your boss, the economy, or the people on Wall Street.

2) You justify your situation to yourself and to those around you. You use sentences that start with “It’s because…”. For example, “It is because the economy stinks that I’m not where I want to be,” or “It is because people are unfair that I don’t have what I want,” or “It is because money doesn’t really matter that I don’t have as much as I would like.” By justifying your current situation, you accept your current situation.

3) You complain, thereby attracting and moving toward a negative reality. When you complain, what do you focus on? All the negatives going on. You must distance yourself from those around you who complain, as they may influence or reinforce your state in a negative way.

Poor people believe money doesn’t matter. Rich people value money and know it matters. I’m not saying it is the end-all, be-all, but money is a powerful tool. When you have it you can use it in countless ways: to help others, travel, or take care of your parents. Money allows for the freedom to do the things that you want to do. I am not saying that money creates happiness, but being broke isn’t sunshine and rainbows. I say solve the money problem and then solve the higher problems afterward.

Rich Dad, Poor Dad by Robert Kiyosaki goes more in depth on these mindsets and how they play out in front of his eyes.

#8: You are worried what others think of you

Don’t tell me for one second that you’re one of those people that “doesn’t care what anyone thinks”. You’re a liar.

woman in white long sleeve shirt lying on red carpet

Society exerts enormous pressure to buy things under the guise that you won’t fit in without them. It’s incredibly effective too. It’s okay to have nice things and to treat yourself once in a while but don’t make a habit of it if you’re struggling to bump those savings.

If someone was auditing your expenses each month, would you be embarrassed by what they saw? Would they think you have your finances in order?

#9: Poor People Set Weak Goals

The reason most people are not successful is not because they set their goals too high and therefore miss them, it’s because they set their goals too low and hit them with little extra effort. If your goals are low and you keep hitting them, then you need to raise your standards and ambitions. You need to have a continuing dedication to going further than those around you. Don’t set your goal for average because average sucks.

On the other hand, don’t set your goals so high that they become unrealistic, and you may rapidly lose motivation. Instead, set your goals just above your comfort zone so that they inspire you to continue working toward them. The right goal will help you secure a better future for not only you, but also your family.

Set your goals and set a timeline. Try to achieve them and appreciate yourself when you complete these tasks. Hey, you are not doing it for anyone else, but for your own success. You are saving yourself big time through this one simple formula.

10) You don’t have a side hustle

If you’re struggling to make ends meet and you have no way up at your legitimate day job/no improvement in sight…you need a side hustle.

Not everything out there will be suitable for you and your needs, but I guarantee if you look, you’ll find something that is.

Related 10 real estate side hustles or 7 Passive income ideas .

What we often mistake in life that one job is enough and only relying on a single source of income. To find another source of income you have to know what you are best at. Go, and practice the mantra of finding opportunities in the skills you learned. If you’re having trouble deciding on a side hustle to start try The 100$ Startup a great book that will give you lots of ideas and an overview of what that business would look like.

If you’re to fix any one of these in you very well could change you life for the better! If you have any other ideas let us know in the comments below.

 

 

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