Most people fall in the circle of poverty by choice. They do not accomplish their goals because they were too lazy to get up and work, some do not make as much as they had planned just because they gave up on their endeavors. There are so many ideas that an individual can come up with in a certain time that can benefit them by raising their living standards, economic level and fulfilling their financial needs. However, very few people implement what they see can help them while the others just ignore these ideas and try to find easy ways to make cheap money which will not last them long.

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There are some characteristics that can render an individual poor and they include the following;

1. Too much love for sleep

The statement, hard work pays, makes perfect sense to someone who is aspiring to be rich but less sense to a poor person. The more time you allocate to work on your goals, then the probability of getting maximum results is high. Mostly, very wealthy individuals sleep late and wake up very early because they understand that the more the input, the higher the output.

2. Surrounding yourself with lazy people

When you want to be successful in life, you spend more time with people who have made it so that you can emulate their character and learn from them what it takes to reach the position they are in. However, if you are fond of surrounding yourself with people who have no goals in life, do not care about tomorrow and neither have direction in life, then with time you will most certainly lose focus on the things you had planned. Same case to people who are lazy, because as far as am concerned laziness is contagious. Even though you were hardworking before, you will soon be influenced by your friends and you will loose your sense of purpose in life. That is why it is of essence to choose wisely who you spend more time with.

3. Evading risks

Life is all about risks. Successful individuals in the world, at one point in time took risks to reach where they are. You have to be ready to take a risk for some ideas to work for you, but if you love to lean on the safe side, the benefits will be much less. When an idea comes to your mind and you are certain that with some effort it could work, then you should be ready to implement it lest another person snatches it from you, which will leave you regretting. Risks have a potential of changing your life for the better, do not always try to be on the safe side, allow yourself to make mistakes and learn from them.

4. Focusing on other people’s issues

An organised individual has their mind focused on their goals and their general purpose in life and not other people’s businesses. The moment you avert your attention to your surrounding is when you lose your vision. Do not waste your time poking your nose where it does not belong, when you could have utilized that time to draw plans on how you will achieve your goals.

Read; How to manage your time well.

5. Love for unending employment

If you want to be rich and you are an employee, try to plan your time so that you can limit the time that you are going to work for somebody. Do not just wait to always be given instructions so that you can work. The reason for this is that, there is not one employee in the world who has ever been among the richest people. You should be ready to take risks and be your own boss, so that you can be able to exploit your potential. You can never exploit your creativity if you keep working for someone.

6. Living above your means

There are so many people out there who are living to please others. They dress in expensive clothing, drive luxurious vehicles, and even live on expensive homesteads all for show. They would rather deplete their savings/cash on material things so that they can be seen to be rich instead on focusing on improving themselves through savings and investment. All these individuals do is live a facade and in the end regret once they understand that there are so many fake people out there and that the only person they always need to impress is themselves, no one else.

7. Lack of a practical budget

You can have be having a little money and with the potential to grow them into huge amount of cash, however with the lack of a guiding budget on how to spend the money, you end up depleting it. All these is done through purchase of unnecessary stuff and overspending, which is all against getting wealthy. Learn to always stick to a budget and not spend more than you earn. Check on tips to lower your daily usage of money in your household.

8. Poor goals and dreams

Your dreams and goals always determine how your future will be like, so you might consider choosing/taking a path that will help you succeed. Many individuals just set goals for the sake of setting them, they do not realize how important this task is. Having poor goals lead you nowhere because you will begin to lack focus, concentration, motivation and purpose, thus in the end leads to giving up. Sound goals brings about progress and prosperity which contributes much on your earnings.

9. Poor investment strategies

Investment involve the usage of finances, and when they are made right, revenues increase, however, poor investments leads to loses and even bankruptcy. Before you think of investing, you need not to rush, contemplate on it, weigh the risks and uncertainties and what the expected review will be. Ensure that you consider all the aspects before you do anything that involves money usage.

10. Living in your comfort zone

The comfort zone is one of the dangerous zones that money get trapped in. People tend to be comfortable so soon once they get something small to be able to afford food, clothing, and rent. Instead of finding other ways to generate income and be creative, they become contented with what they have. This shields their ability to grow and blinds their creativity and potential thus in case of issues like job loss, they have to start again from the bottom.

Conclusion

Being rich needs extra effort on what you do, being ready to take risks and being focused. You have to forego old habits that did not add you any value, just like the above characteristics and adopt much more important ones.

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