With most of us trying to achieve a certain level of financial success it’s good to look into the reasons why some people are financially poorer than others, especially the ones classed as rich financially.
Not everyone is in control of their circumstances, but being aware of these habits and activities might give you a slight edge. And who knows if you stopped doing them, maybe you’d be closer to that goal you’ve been dreaming about. Here are 15 things financially poor people do that the financially rich don’t.
1 – Watching tons of TV
If you have the time to watch reality TV, you’re probably not focusing on building assets. It’s always amazing how much time some people waste on meaningless television. It’s one of those distractions that grabs you and doesn’t let go.
If you know which celebrity is dating who, and if you’re watching TV shows every week as the episodes come on, if you have a favorite news channel, you’re probably watching too much television. Hence why your life is maybe not headed as close as you would like to be in the direction of your goals.
Celebrity gossip and buzz news offers no value to your life. It only serves the celebrities. Some people aim to be on TV instead of watching it, you might say. Watching a show does help you disconnect.
However this is exactly the issue. You disconnect from your problems instead of dealinwhen times aren’t wasted if you’re actually enjoying it. Although is sitting inside, watching a screen for hours on end, be something you really, truly enjoy?
When it comes to the news channel,being aware of what’s happening in the world or some people argue staying informed. Is that many TV stations are always biased in order to fit their own agenda. Instead why not use the power of the internet to get a quick glimpse of what the world is like today. And to move on to do your own thing.
2 – Eating too much fast food
Knowing what you’re putting into your body is really important. And many people have no interest in knowing what’s in their food. What an actual healthy meal should look like or they barely know anything about nutrition. Your brains are clouded by large quantities of sugar and fats with no nutritional value.
You’re actively ruining your bodies. And as an effect, you can’t perform at 100% of your potential. If you’re not healthy, all aspects of your life are directly affected. You’ll suffer physically, mentally, professionally, and even romantically.
3 – Buying low quality foods
The only thing you should buy for a lower price are stocks. While some people are looking to conserve or stretch, the little that they have, the financially rich are focused on increasing their incomes.
There is a time and place to budget and find ways to stretch every cent, yet when it comes to the food you put in your body, you should always look for the better quality. In most cases the higher quality the food, the more expensive.
Hard as it may be to stomach (sorry), the cheap food you’re putting into your body isn’t doing any good. It’s probably doing more harm that good. Plus if you were to add up all the low quality foods you buy, and used that to pay for quality food, you probably wouldn’t need to buy any way near as much due to the nutritional value.
Your body will break down the better quality food you’re putting in and make you feel better, fuller, and you’re less likely to crave the rubbish cheaper foods. The benefits are endless, and it seems to be running them that the financially rich do spend more on quality foods.
4 – Waking up later than the rich
If you were to look at some of the most financially rich people in the world, you would see a pattern of them waking up early, consistently. That’s not to say that being a night owl can’t also work, it’s just on paper, it seems to be the early birds being better at catching those worms.
It’s a fun exercise to think about what you actually do later on in the evening. Are you more likely to drink alcohol, order a pizza, watch rubbish TV and not exercise in the morning at 7am, or in the evening at 7pm.
There is a time and a place like we mentioned above to give yourself a little room, but when it comes to consistently getting more out of your potential, then waking early might just be the right way to go. But we know, it really sucks.
5 – Heavily into sports
Unless you’re a professional athlete or an owner of one of the teams. There’s really no reason for you to watch sports. It’s the same with television. It’s escapism from your current reality.
Think of it like this. You’re putting yourself in a position where you as an individual have no impact on the outcome of the game. Zero impact this behavior then sticks with you and you end up being a spectator in life instead of being a player or an owner. And that’s when you start criticizing other people. When you yourself, haven’t done anything better.
6 – Not staying clean
Most of the jobs today are in the service industries where human contact is a must in order to have a successful exchange of value. People who don’t have good personal hygiene will in time be less successful than their counterparts.
People tend to trust them less. People want to spend less time in their presence. And all of this has ramifications in their personal life. If people don’t like you and don’t want to be around you, what kind of partners will you attract?
It might seem ridiculous, but the first step towards being more successfull is taking some time for yourself and your personal hygiene. After all, you can always get new jobs and find relationships, but you only ever have one timeline, and one body.
7 – Blaming others for their misfortunes
How many people do you know that have some sort of excuse or blame other factors for not being successful? Yet, there are some things that are out of our control, but 99% of your life is on you.
Remember that you are in charge of you. You are in charge of your relationships. You are in charge of your health. You want these to change, do something about it. Life is not what happens to us. It’s how we react to what happens to us.
When something bad happens, the some people choose to victimize themselves. While the others look into it, study it. They seek to find out what happened, why it happened and how they can protect from it in the future. While one assumes the position of vulnerable victim. The other uses it as a growing point.
8 – No money saved up
Having money put aside allows for growth. Let’s say something bad happens. If you have money, put aside, the problem is solved and you can resume your life. If you don’t and the situation is urgent, what do you do?
You either liquidate an asset like your car or house, or you can take out a loan. When someone who has saved, the situation is over, they’re left in the same position, minus the savings. While for someone who’s not taken care of this, their lifestyle has been dramatically hit or now belongs to the creditor.
Now let’s look at the exact opposite. An opportunity arises. Those who have money put aside now have the chance to expand their lives while the other can’t afford to take a full advantage of this opportunity.
9 Credit cards and crazy loans
Credit cards or take out loans for useless things. The rule is simple. If you take out a loan to buy something that doesn’t generate more money than the loan don’t take it. It’s that simple. You should only use credit.
If what you’ll be using it for is an investment. Wanting to take out a loan for a large TV. Don’t want a loan to buy that new Supreme gear. Don’t want to use credit cards to get the new iPhone don’t unless you’re flipping the Supreme gear for profit, or you’re using your iPhone to develop a new app, to grow your business. These items should not be on your credit instead, earn the money and then spend it.
10 – Having a lot of children
Kids can be really, really expensive. We all know how fun it is to make them, or at least practice making them, but people get stuck up to this point. They don’t think it’s true.
Waiting a little longer to improve standards of living in order to assure the right environment and prime conditions for a child to flourish is very important. Some people just go ahead with it. Once the baby comes, the struggle begins just so they can stay afloat and progress beyond barely surviving is almost impossible to achieve.
It’s not always possible obviously, however if you’re in a position to wait a little longer and really be able to set yourself, and your whole family up in the future then it’s definitely worth it.
11 – Not regularly going to the doctors
We’ve touched the importance of health in the past, but this is an especially important point. Some people do not get themselves checked regularly. Let’s say by chance, you end up having a difficult disease.
If you do regular checkups, you’ll discover it in early stages, making the treatment possible at a lower cost. If on the other hand you neglect to do so, you might discover it only when it’s too late, it will cost both you and your entire family, a fortune, and no matter how much money you have, you might still lose your life.
12 – Spending money before getting it
One of the biggest dangers in life is spending money before you have it. The moment you start borrowing money or acquiring expenses before you’re able to pay your life starts to spiral.
If you don’t have money for something that you’re willing to part with without affecting your life, then you can’t afford it. Go back to work, give yourself time to truly think if it will add value to your life, then go get it.
13 – Surrounded by the wrong people
Some say you are the sum of the five people you hang out with most. If you’re surrounded by four negative people, guess who’s the fifth. One of the ways people make sure they stay in a bad situation is by affiliating themselves or hanging out with other positive people that reinforce their strong vibes.
You need people around you that will inspire you and push you further. That are doing incredible things themselves whose success will only motivate you to exceed your current reality. If you’re hanging out with the same people you did, when you were young, you might want to do an audit.
Don’t be afraid to step away from a crowd and move on to something better. If you don’t, your potential will probably be crushed by those who want to feel better about their miserable lives. By making sure you suffer the same fate.
14 – Not following through with ideas
You’re not able to control who your parents are, where you were born, or the way society treats you. The only thing you can control is the amount of hours you put into your dream. Every single person alive only has 24 hours per day. And yet some do a lot more than others.
If you dedicate yourself to learning and implementing more about what you’re passionate about, it’s only a matter of time until you reach success. You’ve heard that nine out of 10 businesses fail in their first three years. Well, do you know how many businesses fail? Because they never got started?
The answer is all of them. If you have an idea, work on it, put it out, get feedback, improve it, launch again. And again and again. It takes years of hard work to make something truly worth it.
15 – Believing others should help get to the top
The world doesn’t owe you anything. Nobody does believe it or not. You’re in this by yourself. You are in charge of what happens in your life. The thing is everyone believes when they’re young, that they’re going to be successful, but then reality happens this world we’re living in rewards only the best of the best.
Those that never quit. Those that keep learning, keep adapting and understand that nobody will solve their problems for them, face them head on. And along the way you might meet people who feel the same way and might share parts of the journey with you. Otherwise, you’ll just be a part of that majority that’s meant to fail.
Thanks for checking out the article of the 15 things that financially poor people do that the financially rich don’t. We hope you enjoyed and could take some key learnings away from it.