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This might not be a fun article to read but it’s definitely worth reading. It’ll help you identify some behaviours, practices, habits and overall lifestyle that hinder you from achieving financial success and making progress in life in general.
Not everyone wants to achieve financial success and that’s fine. They can choose to live their lives in whatever way they like. But becoming rich requires lots of effort and sacrifices you’re probably not ready to make at this point in your life. Below are 10 signs you’re not ready to be rich.
1. You Can't Save Money
You might be telling yourself you don't make enough money to save. Sorry to be disappointed but that's not how this works. If you're unable to save some of your earnings (preferably 10%) now, you can’t save if your income doubles either. Many people think they’ll start saving when their income doubles but that’s not what usually happens; they adjust their lifestyle according to their earnings. Try breaking down your expenditures in the last two weeks, you’ll find that more than 10% of your income was wasted on things you didn’t need and actually want.
2. You Still Expect To Get Rich Quick
Real wealth is built in time; it’s the sum of small repeated actions over extended periods that creates wealth and success. You always fantasise about what it would be like if you magically got 100 billion cedis in your account and what winning the lottery might be like. Rich people don't waste time on wishful thinking, instead, they get to work. Contrary to everyone else, they're getting rich slowly and with time, all their efforts will begin to pay off while you’re still left in the same spot hoping for some serendipitous experience instead of working for it.
3. You Think Hard Work Is the Answer
If hard work is all it took to be successful, coal miners and farmers would be the richest people in the world but unfortunately, it doesn’t work that way. Building wealth and maintaining it requires a synergy of various skills. Hard work is just one piece of the whole puzzle. Your ability to leverage technology to your advantage is one of the most invaluable skills a person can possess in today’s world.
4. You Waste Time on Entertainment
How much time do you waste watching mediocre TV shows or playing video games? With every hour in your day, you're choosing what you spend it on. there's nothing wrong with having some fun but are you sure you aren’t wasting time? At one point, you'll see some of your friends making real progress in their lives while you’re stuck in your room knowing not what to do.
5. People Find You Arrogant and Entitled
Another sign you're not ready to be rich is you believe the world owes you your success. You think you're better than everyone else without actually having any strong basis. As humans, we judge others by their actions but ourselves based on our intent. Take a moment to think about this and analyse your behaviour objectively. Put your head down, be humble and keep moving forward. In time, you'll notice the world is finally giving you the deserved attention not because of how loud you scream but because of how far you've gone from where you started.
6. You Have a Single Source of Income
No matter where you work, no matter whom you work for, you should always mind your own business. That’s to say, aside from your main job, you should have a side hustle; anything that adds money to your account but does require your presence that much. This is where diversification of income streams comes in. Ideally, you shouldn’t put all of your eggs in one basket. No matter how much money you earn, start investing in ventures such as real estate, royalties, other people's businesses, etc. They can all be crucial in building long-term wealth.
7. Your Environment Doesn’t Support Growth
You’re the average of the five people you spend most of your time with so if you want to be rich, surround yourself with people who are working towards that same goal. Such people will keep you motivated. You’ll see them put in the hours and can share insights within your group. Don’t judge your friends for not wanting as much as you do, this life isn't for everyone and if you care more about your relationships, it might not even be for you.
8. You’re Afraid of Change
Only fools are afraid of what they don't understand. Change can be difficult but in today’s world, your failure to embrace it will result in your stagnation and failure. We’re evolving and you need to keep up if you want to survive, not to mention if you want to be rich you have a unique opportunity right now. Study how the world is changing and anticipate the future, by the time it happens, you'll already be waiting and the world will reward you accordingly.
9. You Hate Your Job
Does it at least pay incredibly well? If not, it's time to rethink what the hell you're doing with your life. Why aren’t you looking for alternatives? The fact that you’ve seen this problem and aren’t doing anything about it is a clear indication you're not ready to be rich. Successful people are always pushing toward a better life. They never settle for less than what they desire. Jobs are putting food on your table but the rest of the time, you should be putting in the work to escape it.
10. You Always Wait for the Right Time
This is another mistake most people make; they wait for an opportunity and for all things to perfectly align themselves before they make a move. This is basically equivalent to wishful thinking. The time will never be perfect. Here's something valuable most people don't know; now is better than perfect mostly because perfect doesn't exist and now allows you to move forward. It allows you to evaluate what's going well and what isn't.
Although not a fun read, this article isn’t meant to discourage you but to serve as a wake-up call to help you identify some shortcomings to your financial success. It’s my hope and prayer that you don’t relate to any of these signs but if you do, following the pieces of advice here will help. I wish you well on your journey to financial success.
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