Habits of Poor People that Rich people Don’t Do: The first thing any rich person would tell you about acquiring wealth is that you have to have the right attitude. Bear in mind that this isn’t about stumbling into a few by a stroke of luck. It is about maintaining money and staying wealthy. It is about having a work ethic that yields results. Granted, some people were automatically disadvantaged at birth that grow with the worst conditioning that places them in poverty without a lot of chances of ever becoming rich.
However, realize that people with the least opportunities have still found themselves among the 1% of the richest people. It is mostly about cultivating the right attitude. It is easier to come into some money than it is to stay wealthy. Wealthy people are mostly intentional about keeping their money than the average folk.
Habits are practices that a person becomes accustomed to overtime. They eventually become a part of the indulger and their attitudinal makeup. They can either be positive or negative. Some categories of habits are popular and easily recognizable. Positive habits are measured by their contributions to the person’s life and character. Once a habit makes you vie from your natural and progressive life, you need to drop them.
Take for instance; the habit of taking drugs. The first thing about this particular habit is that you consistently want more and can do anything to get it. However, this isn’t the only problem. Other problems that don’t instantly reveal themselves; dipping into any available fund to sponsor the new lifestyle, withdrawal symptoms, extreme agitations, etc. Sometimes, people pick up habits they didn’t set out to. This is why you need to constantly evaluate yourself for unnecessary or harmful. Bad habits are hard to drop. It wouldn’t be easy, so this is why we added tips to help drop certain habits on our list. This particular list concerns making money and some of the habits of poor people. If you have any of the habits on this list, don’t resign yourself to poverty. Identify them and slowly purge yourself of them.
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12 Habits of Poor People that Rich people Don’t Do
Here are habits of not-very-wealthy people;
1. Spending above means: Spending more than you make is one habit that can keep you poor. All of your earning is not supposed to be spent on luxuries. If you haven’t started earning more than you spend, the chances of becoming rich are still very slim and almost non-existent.
Stay on a budget, regardless of how much you have in your account. Remember that while your budgeting would naturally loosen up as you make more money; it must never exceed your earning per time. Spoil yourself with bonuses when they come, go on vacations, take out time to relax. But do these things only when you can afford them.
2. Self-Pity: The first thing you should break out from if you want to acquire wealth is; the habit of pitying yourself. Don’t let wealthier people make you feel small because you’re poor. Don’t waste time that should be invested; in self-pity. It would yield you nothing but poverty.
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3. Equal company: Make sure to keep people who are more successful around you. An important tip to choosing these people is making sure they are in your industry. You can’t learn if you don’t have people to learn from. By all means, keep your friends around, but be picky with the company you keep.
4. Laziness: To be rich, you have to find something to invest your time in. Turn off the television for a minute, get out of bed, and find a job. Giving excuses of being disadvantaged in life would only last a second.
Finding something to do with your time is essential to making wealth. Another thing you should know is that you probably shouldn’t just stumble out for a job. Take a minute to strategize and ask what your best options are.
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5. Wrong priorities: Poor people always invest their time in things that are hardly worth it. Sometimes, a couple of those things are necessary but this does not mean you should give them attention at the time that you are.
Place value on yourself and your time and invest the latter with careful consideration to the most urgent of items. Make sure you’re productive every day of your life, even if you are taking a break from active work. You can read a book or attend an online class if you don’t have pressing needs.
6. Not taking calculated risks: This habit has kept a lot of people from getting rich off of their amazing ideas. The latter isn’t the only thing that makes you rich; the ability to ‘just do the thing’ is often the determining factor.
Do not be the thing that holds you back. Take risks, but make sure they are calculated once. By this, we mean you should weigh your pro and cons carefully before jumping in.
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7. Lack of drive: People who acquire wealth in their lives often have something that propels them to work hard. When you wake up in the morning, tired and a little unmotivated, drive is the thing that gets you out of bed and into the bath.
Don’t lose focus, even when things toughen up. The easiest way to fight against this habit is to set small and easily achievable goals. This way, there isn’t much pressure at a time and you remain productive.
8. Procrastination: Stop the habit of putting things off. Attend to them as they come. Moving things that you can immediately attend to would just pile up more work for you with an even greater pressure to deliver.
The easiest tip to fighting this habit is consistently using reminders and breaking your tasks into more than a few bits.
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9. Dwelling on the past: We understand that there are chances you have not been successful in past endeavors. Still, do not let it stop you from trying again if you are sure of the productivity of such a venture. Keep at it till it yields. Even rich people try and fail at things. The difference is that they do not have the habit of dwelling on past failures. Choose your destiny and fight till it crystallizes.
10. Lack of self-development: Whether you’re running a business or a regular 9-5 job, see the need to develop in some areas. Don’t remain in your status quo. Get a higher degree if you can, get better at a skill, learn a new one if possible. All of these things are meant to help you stay ahead.
A person most likely to be wealthy among several workers is that person that is in high demand. If you run a business, take out a little time to attend actual business classes, you could learn a thing or two, or you could meet up once in a while with more successful businessmen in your industry to bounce ideas around. Anything you do, don’t stay at a level for too long.
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11. Focusing on only one income source: The majority of people only have one job that they depend on to support themselves. But consider all of the expenses you have to pay each month. Isn’t that a lot? You might be saving money in a retirement account to supplement your income in the future. However, I’m referring to the present. Your entire existence is dependent on that one income source, so if something were to happen to you or your job, you might be in big trouble.
You need several sources of income because you also have many expenses. Building a financial Parthenon will ensure that you can maintain your standard of living even if one source stops or fails.
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12. Paying attention to the present without considering the future: Typically, when faced with a challenge, people choose to ignore the issue. That will undoubtedly lead to catastrophe. The same is true of your financial situation. People typically concentrate on their immediate needs while naively hoping that their future needs will be satisfied in some way.
The future must be considered whenever you make a financial decision. Even though it’s crucial to take care of everything right away, make every effort to save money. While the poor person would be left with nothing in the event of a difficult situation, the rich person would have assets and reserves that would buy him time and allow him to calmly resolve any difficult situation.
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In conclusion, the only thing you need to break out from your habits is determination. Fight them till you break free. Also, don’t be afraid to seek help where you can. You can cultivate other habits that are more likely to set you up for financial success.
Edeh Samuel Chukwuemeka ACMC, is a Law Student and a Certified Mediator/Conciliator in Nigeria. He is also a Developer with knowledge in HTML, CSS, JS, PHP and React Native. Samuel is bent on changing the legal profession by building Web and Mobile Apps that will make legal research a lot easier.