Most of us, including you, have bad habits that get in the way. If you are able to abandon the following habits, you must be able to understand that becoming a millionaire is not as far from reality an idea as you think. We all want to be.
1. Sleep when you shouldn't
If you get up until noon and work 12 or more hours a day to make up for a late start. Here's the thing. I understand perfect, because I struggled with it for years. We are not all active people in the morning. Me, I still stay in bed on cool, rainy mornings.
Successful people are known to wake up early, usually before everyone else in the house, so they can get started early on to get work started, catch up on the news, answer emails, and exercise without sacrificing time. they spend with their family.
2. Neglecting your health
“En cuanto a salud, los malos hábitos generan daños perjudiciales”, escribe Thomas Corley en “Change Your Habits, Change Your Life: Strategies that Transformed 177 Average People into Self-Made Millionaires.
When you're unhealthy, you're tired, less productive, more stressed, and much more likely to get sick. How can you focus on building your health, if you fight those factors every day?
3. Don't read
People with money invest the time and effort necessary to expand their knowledge, keep up with the news and trends within their industry, learn from others and take responsibility for continuing to innovate.
As Lipovsky wrote, reading brings different perspectives, it allows you to gain various points of view that will in turn expand yours, giving you the necessary push to dream big and motivate you to never give up.
4. Rely on a single source of income
People with a lot of money have several sources of income. Which means that for those of us who aspire to wealth, we have to invest part of our income to pay off our debts, and set aside for retirement and invest.
This doesn't mean you have to get a second job while waiting for results (not a bad idea until you have a better option). It could be something you're passionate about, like writing about technology. You can do it through a blog and start earning a passive income through the market.
5. Not setting a budget
Everyone needs to create a budget and stick to it, but unfortunately, there are many people who do not. Since they cannot see if they are spending more than they are accurately earning, it often leads to financial problems. If you notice that this is your case, then you need to start reducing unnecessary expenses and you should talk to an advisor to claim you.
In fact, this is another habit discovered by millionaire authors such as: Thomas Stanley and William Danko after analyzing millionaire people for their book The Millionaire Next Door.
6. Don't think ahead
“En mi estudio, el noventa y cinco por ciento de las personas de escasos recursos no ahorró y la mayoría de ellos acumuló deudas para subsidiar su calidad de vida. En consecuencia, no tienen dinero ni para el momento de su retiro, ni para la educación de sus hijos, ni para las oportunidades que se presenten”, escribió Tom Corley en “Change Your Habits, Change Your Life”.
Tal como dice Corley. “No ahorrar y gastar más de lo que ganas, genera pobreza a largo plazo sin la esperanza de poder escapar”.
7. Not paying attention to small expenses
You may think that spending $40 a day on a cup of coffee has no effect on your wallet. The same goes for that $500 gym membership you hardly ever use. But, despite the fact that in the scheme of things these are small expenses, believe it or not, they add up quickly.
I recently randomly reviewed my business credit card payments. I found that 35 percent of people who buy coffee at least 4 times a week or go to the cafeteria every day, only pay the minimum on their credit card on a monthly basis.
Again, this is why a budget is so helpful. It helps you manage these small expenses so you can adjust and focus on the important things. Remember to only keep the subscriptions that you actually use.
8. Dating the wrong people
Reemplaza a las personas tóxicas y negativas de tu vida por aquellas que son optimistas, que te motivan y te apoyan. “En la vida, sólo conseguirás el éxito si te rodeas de las personas correctas”, dice Corley.
9. Postpone
It is one thing to say that you want to become a millionaire and quite another to start doing it. If you want to get out of financial stagnation, then you need to take action as soon as possible. If you sit down with a financial professional to adjust your budget, this would be a great step to start doing rather than talking.
10. Drink and gamble
“No hay nada como hacerte rico de manera rápida”; “El éxito financiero toma tiempo, iniciativa y requiere de un esfuerzo implacable”; “Aquellos que apuestan, se engañan al pensar que hay un atajo para alcanzar el éxito”, escribe Corley.
En cambio, los millonarios “crean el hábito de perseguir sus sueños y sus objetivos”.
On the other hand, excessive alcohol consumption prevents you from becoming a millionaire since it damages your memory, the ability to think clearly and your health. That doesn't mean that you can't occasionally have a glass of wine or beer. Don't make drinking a habit.
11. Watching too much TV
“La gente rica tiene televisiones pequeñas y bibliotecas grandes. La gente pobre tiene bibliotecas pequeñas y televisores grandes”, dijo una vez Zig Ziglar.
No me malinterpretes. Me gusta ver Netflix de vez en cuando. Pero, como en el descubrimiento de Corley, los ricos prefieren leer, ejercitarse o educarse en lugar de perder el tiempo viendo la televisión. “Hacer uso productivo del tiempo es un sello distintivo de los millonarios”.
“Perder el tiempo es de gente pobre”, dice Corley.
12. Not finding a mentor
I'm sure if I had found a mentor years ago I would have gotten rich since then. Why do I believe it? I could have learned from the successes and mistakes of someone who has developed in those fields, their advice could have helped me to skip so many mistakes that I have experienced and instead I could have obtained some benefit.
Instead of going out to get a mentor, open your eyes, they are all around you. You can take the advice of a college professor or your parents.
13. Stay in your comfort zone
Taking risks and getting out of your comfort zone is unsettling. I get it. But until you take that leap you will find financial success. This is a habit that worked very well for Bill Gates, Richard Branson, Larry Ellison, and Warren Buffet.
“La búsqueda de la riqueza requiere de riesgos, la mayoría de las personas no se lo hacen, por eso no son ricos”, dice Corley.
14. Don't ask questions
You don't know everything. Put your ego aside for a moment. I hate being the bearer of bad news, but that's a fact and it will keep you from being rich until you deal with it.
I learned the hard way that trying to guess the future leads to failure and poor decisions. If you are not sure about an investment or an idea for your business, do not hesitate to ask for feedback and advice.
15. Being consumed by failure
Entrepreneurs wear failure as a badge of honor. That doesn't mean they enjoy or want to fail. Going out of business and losing almost everything is rubbish, but those bumps of life are necessary to become as strong as you can be.
Do not get confused. Failure is horrible. But you shouldn't let that stop you. Take risks, and if you fail, learn from your mistakes and move on.
16. Not setting daily goals
One of the best habits I have adopted over the last few years was writing my goals daily and first thing in the morning. This inspires and encourages me to achieve my goals.
I found that setting daily goals helps prioritize from the most important to the least important. For example, instead of looking for my past due bills from $100, I focus on one or two from $1.500. Prioritizing means doing what really matters.
17. Thinking negatively
“El éxito a largo plazo sólo es posible cuando se tiene una mentalidad positiva”, escribe Corley.
Here are some examples of the most common negative thoughts we have that most can overcome:
– Doubting yourself. Training, education, and a mentor can change this thinking.
– Believe that your goals cannot be achieved. Focus on reaching your daily goals and pushing yourself.
– Have bad grades. No. Grades and learning difficulty do not determine success. Ask Richard Branson who overcame dyslexia.
– The competition is too tough. You will never know until you try. And, in the worst case? Just turn around.
– Lack of concentration. Living healthy and setting daily goals can keep you focused.
18. Don't save
“Un trabajo nunca te hará rico. Tampoco ahorrar todo tu dinero en una alcancía. Entonces, ¿cómo construyes la riqueza?”, pregunta Brandon Turner, vicepresidente de crecimiento de BiggerPockets.com.
So how is it achieved? Through tangible assets such as a profitable business, a growing stock portfolio or investing in real estate law.
Remember, your car and your toys are responsibilities that take away the income from your future wealth. Focus on acquiring things that will make you money in the long run.
19. Make excuses
Las excusas fueron uno de los mayores obstáculos entre la riqueza y yo. Crear excusas es fácil cuando estamos tratando de entender por qué tenemos tantas deudas y si no tenemos un ingreso de seis cifras. Decir que queremos “vivir el momento” es una excusa para no trabajar y crear un mejor futuro. Deja de inventar excusas y comienza a trabajar.
For example, don't worry about saving when you're drowning in debt. Pay first, and that way you can start saving and investing. If you're not making enough money, find another source of income like selling things online or delivering pizzas. That won't solve all your problems, but it's at least a start to ditching excuses.
20. Failure to follow the 70/30 Rule.
Jim Rohn, one of the county's leading business authority figures, has a simple formula for building your wealth.
“Después de pagar tus impuestos, aprende a vivir con el 70 por ciento de tu ingreso para tus necesidades y lujos”, “es importante ver cómo asignas el 30 por ciento restante después de eso”. Menciona Rohn.
Rohn sugiere dar un tercio a la caridad, un tercio a las inversiones de capital y el último tercio para los ahorros. No notarás nada al principio, pero “deja que pasen cinco años y las diferencias serán notables. 10 años después, serán completamente sólidas”.
Source: https://www.entrepreneur.com
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