I have seen this time and time again. People want to be wealthy, but do not commit to what it takes to make it happen. And generally speaking some of these things are quite simple to overcome.
Whilst that is the case, I have to say to overcome them you would need help, because most stem back to your subconscious patterns and habits that you have developed and linked an emotional attachment to. They can be at times difficult to spot, let alone unearth and overcome.
So what are these 6 reasons?
- Waiting for the Perfect Time
This is the biggest and most perfect excuse people tell themselves to not take action. The perfect time to make things happen is now. You cannot keep waiting for the stars to align to do something toward your financial freedom.
If you keep thinking you need this or that to make things happen, keep waiting, you are never going to get going. And then you find yourself in the position of regret.
Financially successful people set out their goals, and do something toward achieving that every day.
So what is your action for today to reach the wealth you desire?
- Fears Stomping Dreams
Fears killed more dreams than anything else. Fears can be debilitating, especially when it comes to money.
The worst thing is that generally speaking the fears we hold true as ours, weren’t even our own beliefs in the first instance! They came from a role model, our parents, uncles, aunties and the likes.
So be honest with yourself. Look at what fears are stopping you from taking action. The ones I see most is the fear of what others may think, the fear of failure, the fear of loss and the fear of looking stupid and when it comes to money, it is the fear of debt.
To overcome fear you need to actually become aware of what the fear is, what triggers it and check whether it is even yours. Then there is a process I teach that can help you eliminate fear in the matter of minutes. Even if you have been holding onto it for years! And it is something that you can utilise for the rest of your life to help you move forward.
The question is, are you willing to let go of your fears?
- Waiting to Know Enough
This is just another way of procrastinating. I am not saying don’t get knowledge. You certainly need to do so. However I also agree that, if you are the smartest person in your circles, you have a problem! There is no way to grow and develop further.
So the best way to combat this is to have a general understanding on what you want to achieve and through what vehicle, and the seek out others that can help you on that journey that know more. Learn from them as you advancing toward your goals.
Fresh knowledge is much better than the knowledge that you have held on for years before you decided to use it. There is a couple of reasons for it, one is some information gets out dated, and will no longer apply. The other is that we only retain so much of the knowledge we learn, if you don’t use it you will lose it!
As you grow you will also find that there is a whole lot more that you don’t yet know. Learning is a constant, so don’t hold things off.
- Focusing on One Income
The wealthy have several sources of income. Most of them are passive. Whereas, most people tend to focus on increasing one income that comes from one source – a JOB.
I was introduced to an acronym a while back. J.O.B = Just Over Broke.
It sums it up, because no matter how much you increase it to, if something happens and you lose that income, then you have no back up. You need to create several sources. Choose a passive income vehicle that you want to know more about and you would enjoy. Business, online business, real estate, shares and the list goes on.
It’s time to make your money work for you!
- Not Utilising a Money Machine
And I don’t mean the local ATM. I mean systems that you have tried, tested and found that they are making you money. These systems need to be reapplied. If they work, can you replicate it and invest in a second ‘money machine’?
If you have a system that brings in the money constantly, there is no limits on how much money you can make, apart from the limitation that you put on yourself through your own beliefs.
- Not Being Patient (and Persistent)
No, it is not the same as waiting for the right time!
Building wealth is a long-term goal, not a get rich scheme, don’t expect it to happen overnight.
At times it may appear boring, some investments have what I call a ‘hurry up and wait’ period. You need to follow up on them, you need to check their performance, you need to fine-tune the systems, and you need to persistently search for the next opportunity that fits your system.
Problem is that most of us don’t stick it out for the long haul, and give up way to early. So what do you have in place to stop you lose sight of the big picture and keep you going? What is your ‘why’ behind wanting to be wealthy. If you are not sure, check out our Masterclass that explains just that.