10 Financial errors that the rich do not commit

All the time I hear people giving advice on how to be a millionaire. The funny thing is that almost none of them are rich.

Entrepreneurs who have truly made a fortune know not to listen to charlatans. The other day I read an article that said “do not eat at work, do not buy coffee and cut your hair less often.” A horrible advice that actually promotes poverty. It’s good to take care of the money, but does not mean being stingy. You must not live the life depriving yourself of what makes you happy.

The truth is, take away the simple pleasures of life will not make you rich. It will take more and more frustrated when the real key to success is planning.

I became a millionaire by changing the way you thought, felt and acted on the money. Make better decisions about your income will change your life. These attitude adjustments may take time, but it certainly will give positive results.

The acquisition of wealth is a great goal, but who you become in the process is even more important.

Here are 10 financial mistakes that the truly wealthy do not commit:

  1. Do not invest in your person

The first American millionaire, Benjamin Franklin used to say that “investment in oneself generates the best interests”. Often we expect our leaders to send us course, we buy books and give us some coaching. However, we must take our education into our own hands in order to prosper. Invest in yourself.

  1. Too entertainment?

Most people spend between 30 and 50% of their salary in fun, to escape temporarily from their reality. The rich people use that time and money in developing their dreams.

  1. Buy with credit

Many people buy items they cannot buy with money you do not have to impress people so they really do not like them either. This tragedy affects thousands of people, making them slaves of the interest on these loans. If a person wants to be rich, you use that credit to grow their business and not to drive personal finance.

  1. “Hide” your partner

Millions of couples never talk about money. It makes them feel uncomfortable, which sometimes leads them to have discussions. However, you cannot become a millionaire unless you generate a strategy together with your life partner. Money only multiplies when love is part of the strategy and both sides of the couple work together for the goal.

  1. Mortgaging a house

Some people “money” has mortgaged their homes, but they are not really rich. This strategy will only engage in an endless cycle of struggles with debt renegotiations, payments and inflation. When your home mortgage you can expect to pay up to double what they paid you! Rich people never bet their heritage.

  1. Wait until retirement to have money

The world economy is so unstable that rely solely on the traditional retirement funds are lucky like buying a ticket for the Titanic. In addition, it is better to forge a fortune to enjoy today and tomorrow.

  1. Buy “cheap” things

Already saying goes: sometimes what you pay, if you live by price, you die by the price. Instead of buying only inexpensive things, acquires goods that are good and durable. Rich people know that an 800 dollars shirt will last two more than 100 dollars they will have to throw in a year years.

  1. Do not enjoy life

Consumerism is strange. For 50 weeks a year, people spend dreaming holidays they will have. However, these days off when they arrive, they spend thinking about work. The truth about wealth is that you enjoy the money you already have, whether 100 or 1,000 dollars. Your money will only grow if you appreciate and think about how you can enjoy it more. Always you get more of what you enjoy.

  1. Do not save

Most people spend their money in different goods. When you see X amount of money in your bank account, they automatically think of what “need” to spend it. However, this impulsive attitude should be eliminated. The millionaires save up to 10% of what they earn and rarely borrow for their tastes. Save.

  1. Work for money

Almost all human beings on the planet work for money, but the rich people work for themselves. They know that money is an alternative product resulting from the services offered to the market. They also know that material wealth is the sum total of his contribution to society. So they never work just for money.

Making these mental changes can dramatically alter your life. Start by changing your financial habits and avoid these mistakes and you’ll soon be on the road to wealth. Remember, the money you earn will not make you rich, but who you become along the way.

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