Eight Hindrances to Becoming Wealthy

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As the year gradually comes to a close, I came across this post. It speaks to those who haven’t set goals and who allow the waves of circumstances and problems to determine their financial future. The importance of goal setting (especially a Financial goal) cannot be over-emphasized.

The fact remains that when you set the sails God will send the wind. Here are a few things you need to deal with if you must achieve your set financial goals before the end of this year:

  • Mindset: The greatest hindrance to prosperity is believing that only some people can be wealthy. People that are not wealthy must first buy into the error that poverty is default. How so wrong!
  • Financial Knowledge: What you don’t know can kill you, ignorance is darkness. A man who is ignorant of his ignorance has achieved the minimum qualification required in the college of fools. Seek financial intelligence, read books, get a coach because everybody needs one and commit yourself to daily learning.
  • Poor management of expenses: Inability to manage your expense will lead to poverty. About 90% of the world’s population spend more than they earn and that keeps them on the RAT RACE. If you spend more than you earn you’re simply borrowing from your future to spend now. Learn to live on not more than 50% of your income, most wealthy people live on 35%.
  • Lack of Reserves: Lack of savings and investment culture will not give room to wealth. Learn to pay yourself from every income you make, put it away in an escrow account so you can invest in assets that will put money back into your pocket.
  • Lack of Passion: Lack of passion and dedication to your goals will also rub you of wealth or God-ordained riches.
  • Lack of a Mentor: Everybody needs a coach to guide his/her journey to financial freedom. Seek for an experienced and willing mentor.
  • Your Network: I say to people your network determines your net worth.  Lack of right association can severely limit your possibilities for gaining wealth.
  • Average Mentality: An average or mediocre spirit cannot control great wealth. There is no room for average plans here.

I believe if you can diligently apply all stated above your life will take a new turn.

Culled from http://charlesezeh.me/2013/07/05/eight-hindrances-to-becoming-wealthy/

A. M. D. G.

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