"A consultant finance, I have spent many years helping people overcome many types of mistakes and cause them to become wealthy. Irony is, one who made me find it hard to help for is myself, "expert advice personal finance Jocelyn Black Hodes writes on financial magazine for women Daily Worth.
The concept of "rich" can be different in each person, however Hodes believes that wealth means freedom of finance allows you to achieve your goals and live your life as you desire. "I'm very good at giving advice, but not when it would also good advice yourself. So when helping clients with the question why they are not rich, the easiest part is to find out the cause, because I was too familiar with them.
Regardless we are rearing, education, occupation or style of how most of us are yet to achieve financial desires. The reason there are so many, most were similar. The good news is never too late to become wealthy, if you, like me, are ready to face the reasons why you are not rich, "Hodes said.
Here are 10 reasons that Hodes pointed out
1. You spend money like I was rich
Sure, buying expensive things feeling great, from a beautiful car, brand clothing, homes, luxury trips. Even if you don't usually buy the expensive things, shopping only things don't necessarily come on you also spent a substantial sum if the sitting Republican bills. However the feeling of excitement after going shopping will dissipate quickly when the credit card bills to the House. Most of us will feel guilty if spending crossed on demand and use credit cards more than recommended. If kept as hand brandishing too forehead, process becomes more remote. My advice is, go on spending as a poor and you will be closer to the target.
2. You do not plan to
There is no short term goals, medium and long term in a clear, rich jobs will increasingly become a hazy prospect. Have a question that we often say in financial sector: those who slipped in the planning, please plan slipping.
Financial planning may sound very big and scary, but in fact they are not. Whether your plan is to do or because the expert advice, simple planning process to start by setting out priority goals and write them out. Put the list in a conspicuous place. Visual reminder will help us very much in the right rail.
3. You do not have an emergency fund
Maybe you've heard hundreds of times that: should have an emergency fund equal to at least 6 months income. However, it's easy to say hard refresh. I have witnessed too many people (including myself) see the shock when a sudden flooding, from the cost of vehicles, this page, sickness or unemployment, accident or illness prevent you from suffering plummeting revenues.
When this incident happened-the fact that they happen more often than you think-if no financial backup plan you will fall into a very bad situation. If the high interest rate debt, forced to use a credit card, you will be more deep whirlpool of debt rather than have to get rich.
4. You started late.
With every year or every month passed without accruing additional account, opportunity of enrichment you back off a little bit. The time and the interest rate was two companion when saving money, so if wasted time means losing money. As well as fitness, the hardest part of the accumulation is beginning. Whether you're in a heap of debt, earn less money or have more expenses pile up, you can still earn something, whether the account is very small.
The bottom line is the more you soon learn the habit of saving – regardless of how much money-then the opportunity for you to continue and increase the savings become more easily. I like to think of saving as the muscles that you will have to take action and get through the training process. Although you start late, you can still become rich on it. The problem is that you have to start right now.
5. You or complain instead of committing
"Life is too expensive", "I will never get rid of the debt," "I don't make enough money", "investment is too risky." I've heard all kinds of covered measures taken to ourselves about why not save, invest or not yet up a plan. I admit that myself also have such grievances at also. Lazy and maintenance of these bad habits, the easier it is to commit and to pursue the goal.
6. You live for today instead of tomorrow
It is difficult to think of a pension fund and the other distant perspective when we have these needs and many other expenses are showing now. To pay the Bills, the children must eat, travel and therefore have to buy new clothes. The problem is the impulsive attitude and pamper themselves lead to the overdue debt. To change, or to change the way of thinking of "buy now, worry later" into "save now, rich later".
7. You are the poor investor
Can you become lucky money thanks to a type of investment. But this is like winning the lottery, does not occur often and not the roadmap to become rich.
One of the worst financial error you invest all your money in one place. This makes your money in high risk status. The stock market may rise, property may be on the recovery momentum, but whether you've prepared for time reversing market? That market hard to predict in advance. Your portfolio should include many of the risk level, the level of yields and liquidity.
8. You can't automate
This is the secret of saving: The automation. Save operation will become very smooth when it was automated. Unfortunately, we are not the ones who save the innate. Our nature is impulsive and greedy. Meanwhile, savings need a lot of discipline. The automation help we may rich up which takes less effort than. Depending on your initial selection, per week or per month, a sum of money will be transferred from salaries or income to a savings account or investment. Without Automation, we will take effort struggling with the itself should do with the money, the more likely will lose. Although the funds automatically transferred quite small, over time it will create big changes.
9. You don't have emergency skills
You might think that doesn't need to worry about the debt or savings because there will be someone who will come to save your life. The chances that might be the salary increases, new work, Sindarin, married a rich wife or husband, hit the lottery. Although the chances that there is nothing, you use it as an excuse to delay implementing the plan to get rich. However, the problem is that in life we cannot be sure of anything. Who knows what will happen or not happen. So, why not focus on things you can make it happen right now.
10. are you susceptible to "ruined"
Can you live with someone who specializes in swing arm too, or have a Mexican girlfriend to go shopping, or maybe you are the one who sometimes can't control myself. All of us are subject to the negative influence in around, on the day threatened to change the habit of saving or hinder the goal of getting rich. In addition, the pragmatic culture, appreciate the appearance that we are living might also be hampered. Ruse to escape the influence of all the above factors is please awake remind yourself about your goals, especially when you feel yourself about to go chệnh rail.=