You Will NEVER Be Rich If You Do These 5 Things | Habits Of The Rich #Best Education Page #Online Earning

There's no doubting the fact that in order to become rich you must have

certain money building traits leadership intelligence assertiveness are all

qualities that are tied to financial success but what no one ever talks about

are the traits that people possess that hold them back from realizing their

financial aspirations therefore in this video I will share with you five habits

you must give up to be rich and if you're new to the channel then hit the

subscribe button below for more life changing content habit number one buying

things you can't afford let's just get this one off the plate right away if you

get into the habit of buying things you can't afford then I can guarantee you

that you will never be rich well this seems pretty illogical the truth is that

spending is often and emotionally driven act well it doesn't make sense to spend

more than you have and as a result subject yourself to financial turmoil in

the form of debt and interest payments oftentimes logic is overpowered by

emotion leading to unnecessary spending if this sounds like you ask yourself why

do we spend more than we have let's go over a few main reasons why people

partake in this destructive behavior the first reason people overspend is due to

the present bias present bias occurs when individuals place extra weight on

more immediate rewards than those in the future for example my future self may

want to buy a home but my present self wants to splurge on a tropical vacation

the more we disregard our long-term interest in favour of immediate

gratification the more likely we will be to overspend

the second reason relates to the use of credit cards when buying compared to

spending cash in fact the present bias ties in to this point because we have an

easier time spending on credit cards as opposed to spending real money I'm sure

you'd agree that seeing the money being depleted from your wallet is much more

painful than swiping your credit card in short the main psychological force

behind credit cards is that they separate the pleasure of buying from the

pain of pain so if you want to get your spending under control

stop using credit cards finally another reason people overspend that I think we

have all experienced at one time or another is the so-called what the hell

effect which suggests that falling off the wagon

causes a feeling of failure which leads to more indulgence this is a case when

minor lapses snowball into self-control collapse where you finally say to

yourself I've already blown it I might as well go all the way for example in

amounts say $100 for dinner in the context of a three thousand dollar

credit card bill seems smaller less significant and less painful than it

does on its own this is a common bias especially where the credit card is

involved therefore the first step in spending loss is asking yourself why do

you partake in these behaviors and then implementing practices that will help

you avoid this wealth destroying habit habit number two saying yes to

everything more likely than not you've met someone who just can't say no to

anyone or anything these people are often given the title of the people

pleaser and while it can be great to be helpful saying yes to every one can be

very detrimental in your quest for riches but this bad habit doesn't just

relate to complying with other people's requests it also relates to taking on

every new opportunity that comes your way for years I struggled with saying

yes to every new opportunity that came my way more specifically this issue

arose when I was trying to build my first side business I remember I would

research ways to make money online and once I chose a business model to pursue

I would work day and night to try and get it to work however at that time I

had multiple friends trying to make money online as well and it would

continuously share their ideas with me suggesting that I give their methods a

try being eager to try and supplement my nine-to-five income I began taking on

more business ideas however I soon came to realize that even if you have good

intentions trying to accomplish eight host of different things all at once

definitely can backfire more often than not you'll end up stretching yourself

too thin to us exactly what I was doing none of my business ideas got off the

ground leaving me frustrated and broke then I came across a Warren Buffett

quote where he said the difference between successful people and really

successful people is that really successful people say no to almost

everything it dawned on me that I was not succeeding in my side business

ventures because I putting in enough time into one and

mastering it once I changed my mindset and focused my attention on a single

business idea I started to see my efforts lead to real results and the

rest is history therefore if you want to become rich realize that you only have

so much time and energy to put into your work and every single yes will result in

the dividing of these precious resources making you less and less likely to reach

your money goals habit number three spending time in bad company have you

ever looked at your social circle and considered what benefit each one of your

friends brings to your life it's easy to keep friends around because you grew up

with them and I've known them for years but the reality is that some of these

people may not be adding value to your life whereas we just went over how

saying yes to every new opportunity that comes your way can detract from your own

personal progression saying yes to being friends with everyone around you can

also be to your detriment well it is great to have a network to rely upon not

everyone will be as supportive as you would like and this can definitely

hinder your ability to succeed I remember when I was first starting my

youtube channel I came across this exact issue well most of my friends were

supportive of me spending countless hours trying to educate people on how to

better manage their finances a few of my longtime friends laughed at me and

categorized me as just another person trying to become famous on YouTube

admittedly their unsupportive comments really made me question whether or not I

should invest my precious time into building an online brand but I knew deep

down that sharing my finance knowledge was the right thing to do the

self-reflection process made me realize that I needed to be more careful of what

company I kept around because if I was going to achieve all of my financial

goals I would need the support of my friends to help me along the way

in fact the benefit of keeping good company around has been preached for

numerous decades in the best-selling book thinking Grow Rich Napoleon Hill

talks about forming a mastermind group he defined this group as a coordination

of knowledge and effort between two or more people who work towards a definite

purpose in a spirit of harmony no two minds ever come together without thereby

creating a third invisible tangible force which can be likened to a third

mind the mastermind concept inspired by hills many conversations

with the highly successful businessman Andrew Carnegie who attributed his

entire fortune and success to his mastermind group and the value of the

supportive thought sharing group is echoed by many prolific leaders Jim Rohn

used to preach that you are the average of the five people you spend the most

time with ultimately who you spend your time with influences the person that you

will eventually become ask yourself are the people you are spending the most

time with helping you grow and take your business and your life to the next level

habit number four procrastinating for those of you who find yourself saying

things like I'll do it tomorrow or it can wait until Monday you may be a

procrastinator and unfortunately this is a terrible habit to have you see winners

don't put things off until later they create a plan and execute no excuses if

you find yourself constantly procrastinating you need to make a

change right now ask yourself why you were constantly putting things off

are you putting things off because you were letting other activities distract

you or perhaps the task you need to complete is so large that you don't know

where to start if you look at what truly separates the rich in the poor you will

see that those who execute are the ones who reap the roars of their work however

the rich aren't just completing any tasks they focus their time and energy

only on high-value activities you see the rich know that there's a big

difference between being busy and being productive

being busy includes things like cleaning out your email inbox or manually

processing client invoices however these aren't activities that will lead to

monumental jumps in your income being productive means identifying your

high-value activities and ensuring they get done this is why you should assign

priority to your most important tasks and do those first it's for this reason

that I end every day by listing out the exact tasks I want to complete the

following day not only does this allow me to prioritize which tasks will help

me progress the furthest in my business or professional ventures but it allows

me to get started right as I wake up so that I maximize the usefulness of my

morning energy therefore the sooner you get to work the sooner you will become

rich haba number five expecting good things to happen there are two types

people in this world those who expect success to come to them and those who

pursue the success they desire in life the truth is that in life you can't

expect any handouts anything you want you have to earn let me give you an

example that you can probably relate to just about everyone wants to make more

money but you can't just expect to earn more money by doing nothing sure you

show up to work on time each day and you do your job well but you still haven't

received a raise or a promotion do you deserve one

maybe but employers aren't known for giving out money when they aren't

required to which is why sometimes you need to take matters into your own hands

and ask for that raise of promotion you deserve unfortunately research shows

that asking for more money isn't something most people are comfortable

doing statistics show that 53% of women and 40% of men have never asked for a

raise it may be due to a lack of confidence in their negotiation skills

or feeling intimidated by their boss but the numbers support the fact that

negotiating for more money does literally pay off eighty nine percent of

people who negotiated for a higher salary when they started a new job were

successful in doing so and this makes sense when you look at it from the

perspective of the employer it takes time to post a job interview candidates

and finally train them to a day to day level proficiency and this takes months

and thousands of dollars more likely than not your employer would rather keep

a good performer and increase their pay and then gamble when trying to hire

someone to replace you so if you were someone who is performing well at their

job then it may be worth building a case to negotiate a raise or even a promotion

in short winners don't take back seeds and expect things to come to them they

go after what they want and put themselves in a position to win whether

this is asking for a raise putting in the work to build a

profitable business or networking with the types of people who can share with

you the knowledge and wisdom to grow your wealth the path to success can only

be ventured when you decide to take action thanks for watching if you want

to go from the life you have to the life you deserve then hit the subscribe

button now

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