5 REASONS WHY PEOPLE DO
NOT GET RICH
With the modern possibilities that we have, why don’t people become rich? Most people in the world live a poor life, despite the fact that they are far from stupid and talented. Here are 5 main reasons why many people cannot get rich.
1. It does not occur to them that it is possible for them
Firstly, this is something that never happens to them. The average person grew up in a family where he had never met and did not know someone who was rich. He goes to school and talks with people who are not wealthy. He works with people who are not rich. He has a social circle of people out of work who are not wealthy.
He has no role models. If this happened to you during your formative years, up to twenty years, you can grow up and become completely grown up in our society, and it will never occur to you that it is as possible for you to become rich as for someone else.
This is why people who grow up in homes where their parents are wealthy are much more likely to become rich than people who grow up in homes where their parents are not wealthy. And it’s not the inheritance.
Therefore, the first reason why people do not become rich, it never occurs to them that this is possible for them. And, of course, if this never happens to them, they never take any steps necessary to make this a reality.
2. They hesitate to become rich
The second reason people do not get rich is that they never make up their minds.
Even if a person reads a book, attends lectures or is associated with financially successful people, nothing changes until he decides to do something else. Even if it occurs to a person that he can become rich, if he does certain things in a certain way, if he does not decide to take the first step, he will turn out to be what he is.
If you continue to do what you always did, you will continue to receive what you always have.
The main reason is that the vast majority of people do not decide to be successful. They never make a firm, unambiguous commitment or a definite decision that they are going to become rich.
These people want, they intend, they hope, and they gather … someday. They wish and hope and pray that they earn a lot of money, but they never make up their minds: “I am going to do it!” This decision is an important first step towards becoming financially independent.
3. Maybe tomorrow …
The third reason people do not become rich is procrastination. Or as it is now called more often – procrastination.
People always have a good reason not to start doing what they know what they need to do to achieve financial independence. It is always the wrong month, the wrong season or the wrong year. The business conditions in their industry are not good enough, or they may be too good. They may have to take a risk or give up their safety. Maybe next year.
There seems to always be a reason for procrastination. As a result, they continue to set aside month after month, year after year, until it is too late. Even if it occurred to a person that he could become rich, and he decided to change, procrastination would push all his plans into an uncertain future.
4. They cannot save
The fourth reason people do not get rich is what economists call the inability to defer satisfaction.
The vast majority of people have an irresistible temptation to spend every ruble they earn, and all that they can borrow or buy on credit. If you cannot put aside satisfaction and discipline yourself to refrain from spending, you cannot become rich. If you cannot practice budgeting as a lifelong habit, you will not be able to achieve financial independence.
As W. Clement Stone said: “If you cannot save money, the seeds of greatness are not sown in you.”
5. They do not think farsightedly.
The fifth reason that people do not become rich is very important, if not more important than everyone else.
This is the lack of time perspective.
In a study conducted by Dr. Edward Banfield at Harvard University in the 1950s and published in 1964 as “Heavenly City,” he examined the causes of increased socio-economic mobility. He wanted to know if a person or family was going to move up one or several socio-economic groups and be richer in the next generation than they were in this generation.
All of his research led him to one of the factors that, in his opinion, was more accurate than any other in predicting success in America. He called it a temporary perspective. This was defined as the amount of time you take into account when planning your daily activities and making important decisions in your life. The temporal perspective concerned how far you projected into the future when you decide what you are going to do or not do in the present.
An example of a long-term perspective is the usual habit of upper-class families in England to register their children at Oxford or Cambridge as soon as the baby is born, even if he does not attend his next eighteen years. This is a long term perspective in action.
A young couple who starts investing $ 50 a month in a scholarship fund so that their newborn child can go to college or university of their choice is a long-term couple. They are willing to donate in the short term to provide the best results in the long run.