One of many reasons why some people don’t get wealthy is because it’s too hard. Especially when the lessons were not taught at an earlier stage. It takes time, lots of research and a lot more money. That’s probably it, right? A lot of money will be lost in trying to get wealthy.
Although, you’re already living a life where you’re losing money as soon as you get it and you’re not even trying to get rich, can you believe it?
So you might as well try. Go on, try to get rich and see what happens.
You need to give yourself that pep talk. Every day. You actually need to convince yourself you need to get rich. It’s either that or you wait for an impact on your life before you think you need to make a change.
No one is going to walk you into a rich mindset.
After reuniting with a friend at a summer barbecue, he spoke of his time wasted not trying to build wealth.
“I was hooked on the celebrities and nightlife. I knew them all (not personally) and their birthdays. I went to all the parties, bought all the bottles, paid all the deejays’ rent in one night and later fed the aftermath to the ducks as the sun rose up. But slowly I started to pay attention to my life after the nightlife. I asked less questions on what celebrities were doing and more about what I was doing.”
He asks himself,
‘How much do I earn?’
You cannot get rich without earning. This is the money received from completed tasks. So, if you don’t earn. Start earning.
‘How much do I need to spend?’
Keyword being ‘need’. Don’t even look at how much you do spend… yet. Just calculate the needs. And just in case you weren’t sure, this must be less than your earnings. If your needs are more than you earn, you don’t need more money, you need less needs.
‘Where should my leftovers go?’
One person doesn’t know everything and nobody knows the future. We can’t escape emergencies, so we might as well get ready, then stay ready.
Have an emergency fund. Treat it as a payment to yourself that you will only use to save a life. As soon as you earn, you set it aside.
‘I direct a manageable percentage (5%) of my total monthly expense to my emergency fund as opposed to a fixed amount. A fixed amount wasn’t flexible enough for me.’
Conclusion
‘So.., no investments?’
‘For sure. Investment is a must. But what to invest in? You haven’t been taught this… about the things and people that deserve you and your time. You’ll need direction. You’ll need to develop your compass.’
Only after managing what you have to survive, will you know what you need to thrive.
