If you ask most people they'll tell you that they want to be rich however the
reason for wanting to be rich varies from person to person regardless of your
motivation if you want to become rich there are certain do's and don'ts you
must know and abide by and in this video i'll share with you seven things you
should avoid at all costs if you want to be rich and if you're new to the channel
then hit the subscribe button below for more life-changing content number one
bad spending habits when it comes to money management people are often their
own worst enemies most people are very attached to spending money therefore
overcoming their bad spending habits can be psychologically difficult especially
if we don't even know how bad their spending truly is fortunately whether
you're focused on sticking to a budget saving for the future or paying off debt
you can always make small changes to your spending behavior for example have
you ever felt that sticking to a budget is impossible no matter how hard you try
or do you wonder why you never have any money left at the end of the month most
of the time these afflictions are the result of having bad spending habits
that you may or may not be aware of breaking your bad spending habits means
adjusting how you interact with your money the first step is to recognize
what you're doing and the second is to fix it one notorious bad spending habit
is always using plastic instead of cash to pay bills you may love the
convenience of tapping and paying but it can lead you to spending more money than
you initially intended to research consistently shows that people tend to
spend more when they use credit and debit cards rather than cash when we use
plastic cards like our credit and debit cards we don't feel the pain of the
purchase in the same way we do when we are handing over a crisp hundred dollar
bill to break this bad spending habit you should switch to an cash diet
determine how much discretionary spending you need for the week then
withdraw that amount in cash when you want to spend and you see your hard
earned dollars leaving your hand you'll want to review how you spend another bad
spending habit is when you disregard those seemingly small expenses you think
a dollar here four dollars there doesn't really make a big difference in the
grand scheme of things right think again small expenses add up you won't notice
them especially if they're so small you should review regular subscriptions and
other small costs that regularly leave your bank account spending eight dollars
a month actually costs you a hundred dollars a year things like netflix
subscriptions mobile and internet extra bill services and even bank fees can all
be a few dollars you spend each and every month unnecessarily number two
comfort zone syndrome it's important to push the boundaries of your comfort zone
especially if you want to become wealthy but first what exactly is a comfort zone
why do we tend to be comfortable with familiarity in our day-to-day lives
answering these questions is not really a difficult task so stay with me and
i'll explain why we love comfort so much simply put your comfort zone is a
behavioral space where your activities and behaviors fit into a routine and
pattern that minimizes stress and risk it provides a state of mental security
your comfort zone normally offers you regular happiness low anxiety and
reduced stress this is why it's so hard to get your brain out of your comfort
zone and also that the comfort zone in itself is neither a good or a bad thing
it's a natural state that most people tend towards however it becomes bad when
you're comfortable being in a state that you don't really like or no longer want
to be in when this happens you simply have to find motivation and fight your
way out generally ambition is key to breaking out of your comfort zone
however people who have pushed themselves out of their comfort zone and
to the next level know that when you truly challenge yourself you can achieve
great results number three unmotivated friends working hard is generally
difficult however working hard in the midst of unmotivated friends or
relatives is even harder unmotivated people are a disease and sometimes being
around them can feel like these people are pulling you down with them they've
already set their priorities so they want yours to be at that level too in
fact in many circumstances it can become an attack of peer pressure to conform to
the methods of the unmotivated no one can instill a sense of motivation in you
unfortunately you have to do it yourself so how do you go about doing this stick
around and i'll explain right now but before i do make sure that you smash the
like button if you made it this far in the video you see there are two options
available to you here you can either decide to avoid these people at all
costs or stay with these people but use them as a constant reminder of what you
do not want to be like or become in option 1 understand that it's your life
your goals your dreams and your desires are yours you want things from life and
are ready to work to get them it's not easy but frankly these people aren't
helping you get what you want it's time to move on and find people who can don't
let them hold you back in option two these are people who are unmotivated and
offer very little except maybe some popcorn during netflix night which
sometimes may even be asking too much of them however by working hard around
these people you have the opportunity to look at them and say this is what i want
to avoid it's a matter of using their life as something that motivates you to
avoid such a lifestyle at all costs this may sound cruel but you have a different
form of happiness than they do they value leisure and relaxation you value
something bigger and are ready to chase it number four excuses as humans we're
great at choosing from a wide variety of excuses to limit our abilities from
staying out of the gym to studying for an exam it's all too easy to find
excuses for why we can't keep up with the important things in our lives but
the truth is we all do make excuses from time to time it's a simple habit that we
use to rationalize why we're not keeping a certain commitment however in the
grand scheme of things excuses will only slow you down you may tell yourself that
you don't have the time money or training to pursue something however how
you choose to spend your time and money is how you set your priorities when you
make up an excuse you don't even give yourself a chance to succeed which can
limit you in every area of your life if you have an excuse for everything that
comes your way you may never know what you can do excuses can hold you back for
many things including advancing your career being healthier and forming new
relationships don't settle for less by making up an excuse just because you
don't want to put in the effort to challenge yourself
number five the desire to fit in we're all born with this innate desire to be
accepted to fit in the problem is that when you try so hard to fit in you lose
a piece of yourself in the process and the world needs something it is being
yourself and being brave and not apologizing for who you are you have to
be different to make a difference in fact trying to fit in isn't healthy for
anyone trying to be someone that you are not can make you unhappy add unnecessary
stress to your life and negatively affect your mental and physical health
trying to be someone you're not is exhausting today take some time to spend
with people who are interested in you being 100 authentic to yourself strict
rules and norms are not good for creativity instead of trying to be what
others expect of you give yourself the opportunity to create something new you
don't have to be front and center to be valuable for example in a play one
cannot be on stage without a screenwriter a director a stage manager
or a costume designer there are many valuable parts to achieving a game that
is equally creative it's the same in sports and business and life in general
the best teams i've been a part of are those with the most diversity number six
overthinking is overthinking among your habits do you argue over and over in
your mind instead of doing something to solve your problems do you analyze every
event everything you hear and see in your mind do you think the same thoughts
over and over without getting them out of your mind do you keep thinking about
the advantages the disadvantages of each move you make and take therefore you're
unable to make any decisions at all if all this is true you're thinking too
much thinking is good and useful but thinking excessively is when thinking
becomes a problem that's why you have to learn to stop overthinking does your
body need rest and sleep of course it does do you keep your car engine running
when you arrive at your destination no you turn it off what if you decide to do
something and immediately change your mind when making a decision the right
way to do it is to think about the options for a while decide on the best
course of action under the given circumstances and then make the decision
and implement it without looking back instead if you keep thinking doubting
changing your mind and letting worries preoccupy your mind you will not be able
to decide and act number seven instant gratification which
would you prefer a dollar today or five dollars in a month's time props to you
if you chose the second alternative but research tells us that most people will
choose the first option this is a classic example of what is called
instant gratification we all want to get what we want right away so why prolong
it and deliberately make us feel bad given its undeniable feel-good benefits
and its contribution to our overall happiness it seems almost
counter-intuitive that instant gratification has such a bad reputation
the concept of satisfaction is closely linked to another popular hero in
psychology self-control well it may seem on the surface that instant
gratification is a better route to well-being research confirms the
opposite the ability to exercise self-control and discipline pays off
much more later in life it is directly related to reaching a goal and being
successful how i'll share why that is now just think about it how many times
have you regretted decisions you made on a whim a shopping spree at the mall can
give you a moment of happiness it's true but you probably don't feel so good when
you have to pay off your credit card later or how often did you change your
mind about the product you purchased and returned it of course we've all been
there the good news is that we can all get better at controlling our impulses
according to research letting your mind wander sometimes helps you focus on the
bigger picture and your long-term goals and being less present tense bias can
help curb your urge to make decisions that you may want to reverse later
therefore we should all take mental breaks more often let your thoughts be
scattered look out the window and sit idle for a while getting rich demands
that you learn the rules to wealth creation understand them and apply them
without holding back hey it looks like youtube thinks this next video is the
one that will change your financial life forever give it a watch and let's see if
they're right