Here are 10 possible reasons you aren’t a millionaire: as posted by Jeffrey Strain
1. You Care What Your Neighbors Think: If you’re
competing against them and their material possessions, you’re wasting
your hard-earned money on toys to impress them instead of building your
2. You Aren’t Patient: Until the era of credit cards, it
was difficult to spend more than you had. That is not the case today.
If you have credit card debt because you couldn’t wait until you had
enough money to purchase something in cash, you are making others
wealthy while keeping yourself in debt.
3. You Have Bad Habits: Whether it’s smoking, drinking,
gambling or some other bad habit, the habit is using up a lot of money
that could go toward building wealth. Most people don’t realize that
the cost of their bad habits extends far beyond the immediate cost.
Take smoking, for example: It costs a lot more than the pack of
cigarettes purchased. It also negatively affects your wealth in the
form of higher insurance rates and decreased value of your home.
4. You Have No Goals: It’s difficult to build wealth if
you haven’t taken the time to know what you want. If you haven’t set
wealth goals, you aren’t likely to attain them. You need to do more
than state, “I want to be a millionaire.” You need to take the time to
set saving and investing goals on a yearly basis and come up with a
plan for how to achieve those goals.
5. You Haven’t Prepared: Bad things happen to the best of
people from time to time, and if you haven’t prepared for such a thing
to happen to you through insurance, any wealth that you might have
built can be gone in an instant.
I’d have to say, I’m guilty of a few… How about you?