During your wealth building process, you could still think you’re doing everything right: You’re spending less than you earn, you’re putting money away for a rainy day, but there are a few traps you’re still falling into without even realizing it.
Knowing these traps could mean the difference between building wealth and living paycheck to paycheck. Have you fallen into one of these?
The Cushy Job
Job security is important these days, but are you reaching your potential? Do you feel like there is something more for you out there? Well, there is. That “cushy” job that feels more like an obligation than genuine fulfillment is holding you back from opportunity that you can create yourself. Don’t wait for your boss to decide to promote you. Your potential for wealth, freedom, and success is no less than anyone else’s.
Avoiding Risks
Nobody who ever paved a path towards wealth and success ever stayed in their comfort zone. You have to take risks to learn, grow, discover, attain, create. This is not to say you should be reckless. It means you need to step out of your routine. Push the boundaries of your comfort zone. Become comfortable taking risks.
Viewing Money Negatively
Do you view money as a dirty thing? You’re not building wealth if you’re thinking this way. You don’t have to apologize for wanting to have the ability to take care of your family and create freedom in your life. Money isn’t dirty, people who use and abuse others for it are. Building wealth does not involve abusing money or the people around you, it’s creating a healthy perspective, abundance, and freedom.
Not Staying the Course
Giving up can be so easy, but it’s always darkest before the light. You’ll experience ups and downs, failures and rewards, hard times and good times, but when you give up because it’s hard or taking too much time, that’s when you’ve lost.
The Weak Social Circle
You can tell a lot about a person by the people they surround themselves with. Do you associate with wealth-minded people or people who bring you down? Friends should be those that support you or inspire you or teach you or are there for you when you’re down. If you aren’t around these kinds of people, you’re not building wealth.
The Victim Mentality
Accountability. It’s the breakfast of champions. If you are constantly blaming outside forces for your current situation, you’ll never move forward because you don’t fully realize what is stopping you: You. If you don’t take responsibility for the current situation you’re in now, then how can you possibly have the power to change where you go from here?
The Know-it-All
A person of true wealth never stops learning. If you think you have it all figured out, there is always something — a lot of things — you aren’t even aware you don’t know yet. Always be curious, always explore possibilities. Discover new territory and ideas. If you think you know so much, imagine how successful you’ll be if you knew more.
Read more about the 7 Wealth Traps in the upcoming release of Wealth Can’t Wait! Pre-order now!