3 Mistakes All Poor People Make
Making Money and Living a Life of Abundance is actually Important.
Money is the tool that will allow you to achieve higher Goals in your Life and also to make the life of other people around you better
On the other hand, you must have seen people making a ton of money but they are actually poor with their Money Management Skills.
They tend to spend more than they earn and thus often they find themselves in financial crisis.
Look, If you are good with your Money handling skills and at the same time Making a Good amount of Money, then nothing can be better than that. Because it will actually lead you to your Financial Freedom.
That is the reason, over here we will talk about the main 3 Mistakes All Poor People Make. So that anyone can avoid these mistakes to attain his/her financial freedom
List of #3 Mistakes
1) Single Source of Income – Research has shown that any Average Millionaire has about 7 Streams of Income. Now think about it, why an average millionaire has at least of 7 streams of Income? Why not only one?
I’m not saying that nobody can be Financially Stable or Rich with one stream of Income, but that is not very common now. And we are talking about in general, not the rare cases.
But, let’s say you are working at a Basic Job which only provides with the Monthly/Weekly paycheck and that is all you got to pay our Bills and stuff. Then it is almost impossible to reach financial freedom with your only source of income.
That is the reason, it is necessary for you to consider thinking about some other source of incomes.
Think about it this way, when you are not dependent on only one source of income then how relieved and stress you can be in your life. Moreover, you will have the opportunity of Options, which is really a big deal in Life.
So, think about some ways you can start earning your Money. It can some Side Hustle which might take some time to pick up its pace but when it does, you will have a decent source of Income to rely on.
So start Learning and Educating yourself so as to start something as soon as possible.
2) Living a Balanced Life – Balanced Life is a myth. It doesn’t really exist.
People have been preaching around this concept for Years but it actually doesn’t do any good.
There is no balance, it is only what you want. There are no definite numbers in life to get a “Balanced Life”, there is only your numbers.
I will find nothing like you should only work for this much hours otherwise, you will be burned out. Look, if you actually enjoy what you do and you got a real vision and passion for it, it is never torture.
Burnout happens when you torture yourself. When you do the wrong thing, with the wrong people, then you burn out.
Balanced Life should not be an Option. Your Goal should be to MAX OUT LIFE as ED Mylett says.
You have to max out your potential and thus living a Fulfilled Life. Focus on Value adding to People and At the same time making you reach your full Potential in Life, Happiness. And in this way, Wealth and Health follow you.
3) Avoiding Risk – It is one of the most seen phenomena of Poor People. they tend to avoid all risks.
Look, nobody ever became Rich without taking Risks. Some may be calculated risks or some may be uncalculated risks, but risks will always be there.
It is not okay to play Safe always. It doesn’t happen that way.
Let’s say if you always Save Money against some minimum Return (ROI) because you cannot take the risk of Investing it into something a little bit more riskier but at the same time, with High ROI. Then you will never allow your Money to Grow.
Invest your money into something that grows. That helps you build Asset and eventually Wealth!
I’m Not asking you to Invest into anything Flashy, but to learn and know about some good Investment Vehicles.
If you understand Stocks, bonds, then go for that. If you understand Real Asset, then just go for that. But go for something Big.
Now, all these will allow you to feel abundance. and Wealth. And That will be the Safest Place for You.
So take Risk to be Safe!
Conclusion – These are the 3 mistakes all poor people make and now you know it. So try to avoid them and to live up to your full potential
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