How to Tell If You'll Never Be Wealthy
Every time I go to make a budget for my monthly expenses, it blows my mind how much money I spend on little things or how often I treat myself to indulgences that add up (barre classes, blowout bars, and drinks at the bar…). And although putting each and every one of my expenditures in an Excel file makes me feel quite vulnerable (even if it is for my eyes only), I know I’m better off than those who simply spend whatever they want and put the rest, if any, into savings. When I came across a Business Insider article detailing no-fail signs that you’ll never save enough money to be rich, I was intrigued. Are guilty of any of the things on the list?
- You worry more about saving than earning. There’s nothing wrong with pinching a penny (or two) once in a while. But if you start figuring out ways to actually make more money, you won’t have to clip coupons every week, and you just may be on your way to financial success.
- You haven’t begun to invest. Two words: compounding interest. If you haven’t started, do it right now.
- You purchase things you can’t actually afford. A birthday or a new job sometimes calls for a little special splurge for yourself, but when all of your items carry designer labels and you’re still making an associate-level salary, you’d better start thinking twice.
- You don’t like to be uncomfortable. Most rich individuals work for themselves and/or start their own companies. If you’re only comfortable with a 9-to-5 and won’t ever take a risk, you may not be able to reach your true potential.
- You haven’t made money goals. If you aren’t thinking of earning more or saving, chances are you’re not actually doing it.
- You think being wealthy is a pipe dream. It’s always wise to reach for more because you just might get it. Positivity breeds success.