Even with financial literacy, obstacles can keep you from wealth; learn how to tackle them
When you educate yourself on finances, you can still face roadblocks to success. The five main reasons why financially literate people fail are:
- Fear
- Cynicism
- Laziness
- Bad habits
- Arrogance
Fear
Robert Greene explains that he has never met a wealthy person who hadn’t experienced losing money, but almost all poor people he met have never lost a cent. The lesson is clear, becoming rich is synonymous with learning to take risks and minimizing the fear of them
Winners are inspired by failure, while losers are defeated by it. When faced with failure, winners will only work harder.
Losers cannot handle losing, which is why they give up. Handling failures by learning from them is a secret all winners know, but losers don’t.
“Most people struggle financially because they play not to lose instead of playing to win.”
Robert Kiyosaki
Cynicism
People’s doubts and uncertainties keep them poor. Technically, getting out of the rat race is very easy, but doubts keep rat racers paralyzed. Instead of analyzing as winners do, the cynics prefer to criticize. Their critique blinds them from seeing the opportunities.
⚡️Many never get rich because the fear of losing money outweighs the joy of getting it.
Laziness
Counterintuitively, staying busy is the most common form of laziness. Busying ourselves with numerous activities and errands is the way to avoid facing our fears. Deep down, we all anticipate this simple truth. That’s why we often get annoyed if someone reminds us of that fact. We don’t have the time to cater to our wealth, health, and loved ones.
Bad habits
Education is not the only factor that defines success. The latter consists of certain habits. The rich always work on themselves. They invest in themselves first. Start building habits that bring you closer to your goals. Acquire a positive habit of reading every day. Also, exercise daily to strengthen your physical health. Find the time for the things that matter.
Arrogance
Arrogant people often lose money due to their ignorance. They believe that if they don’t know something, it is not important. When you start pursuing success, you must make humility a priority. If you are humble enough, you can learn something from each person that crosses your path and every situation you encounter. The phrase “I can’t afford it,” turns off your brain, whereas the question “What do I need to do to afford it?” opens up possibilities, excitement, and dreams.