The Money Mastermind: Eight Habits That Can Drive You Into Poverty

Do you ever wonder why some people are successful but most remain poor, in spite of the fact that everyone operates in the same economy? Records show that wealth and poverty have existed side by side in older civilizations. And it's not different today.

Granted.Some people may have certain advantages over and above others but it's a known fact that majority of the people who have become successful, also had several odds against them just like the rest. But they were able to weather the storm and emerged successful.

I have here enumerated eight habits that can be responsible for a guaranteed poverty. It does not matter in which country you find yourself. As long as you take cognisance of these eight habits and decide that you're going to do otherwise, success can be assured.

1. PROCRASTINATION

The first habit is procrastination. It is said that procrastination is the thief of time. If you want to be successful, grab opportunities as soon as they come your way because you might never know when such opportunities will come your way again if you fail to do so. Also, endeavour to set realistic expectations. It is unrealistic to expect that success will come too easy and quick. Bear in mind that success takes time.

2. INDECISION

This is a state of being unable to make a choice between two or more opportunities. For example. One may be talented in sports and music but finds it difficult to choose which to pursue. Most times, people with this kind of dilemma may choose to pursue the two opportunities at the same time but end up being average persons. To be successful, you should choose to do one thing at a time for it is better to be a master of your game than a jack of all trades.

3. INABILITY TO ACQUIRE NEW IDEAS

Successful people make it a point of duty to always seek new ideas. They associate themselves with books rather than entertainment. They continuously seek self-development through the pages of books. If you make a visit to their houses, one thing you can be sure of finding is a study library. People who crave for entertainment at the expense of knowledge, are often times condemned to a life of poverty.

4. FAILURE TO LEAVE ONE'S COMFORT ZONE

A Comfort zone is a zone in which you do something that allows you to simply eke out a living. It is called a comfort zone because it is less demanding. Often times, you find people willing to stay in a poorly paying job for over thirty years and retire poor. This happens because of their unwillingness to leave their comfort zones.

If you want to be successful, you must be willing to leave your comfort zone. This is not say you should resign your job but be willing to go into other engagements that will enable you build residual passive income.

5. WAITING FOR THE RIGHT TIME

To wait for the right time before engaging in an undertaking, is to wait endlessly because the right time may never come. Experience has shown that every successful person faced disadvantages. The right time never came in their case but they faced their challenges with dogged determination. Moreover, waiting to learn everything about, say, a business opportunity before engaging in it, is to plan to fail. Successful people rather learn on the job. They may, no doubt, fail. But they regard failure as an opportunity to learn better ways of doing business.

6. HAVING A CLOSED MIND

A closed mind is the surest road to poverty. One who has a closed mind does not see beyond where he is. He is, as a matter of fact, oblivious of the opportunities around him even when they are shown to him. Anyone desiring to make a success of life must be open to other opportunities. The essence is to create streams of income. There is a general believe that an average millionaire has at least, seven streams of income. If any of these income streams closes, he will still keep afloat.

7. WISHING CIRCUMSTANCES WERE DIFFERENT

Some people are poor and they have come to believe their circumstances are responsible. They spend all there life in wishful thinking. They wish they were born in a different country, by different parents, had different relatives etc. More often, you here people say, "If I was born by rich parents or born in so and so country, I would have been this or that by now". That may be correct though, but it is a known fact that majority of successful people never had rich parents that bequeathed some future to them and their success was not by any stroke of luck.

What then could be responsible for their success? First, they earnestly desired success. Second, a plan of action was set to meet their goals. Third, they accepted that success will not come easy but were ready to keep moving.

As Jim Rohn said "If you really want to do something, you will find a way. If you don't, you will find excuses." So stop the excuses of circumstances. Desire success and work very hard to meet your goals. Your destiny is in your hands.

8. COMPLAINING ABOUT LACK OF CAPITAL

If you want to be wealthy, you must do your own business. You will never be wealthy working for someone else. But setting up a business demands huge startup capital which majority of the people cannot afford. This singular factor has put a lot of people away from setting up their own business and therefore consign them to a life of deprivation. With the advent of the internet however, this has been made relatively easier. Presently, you do not need tonnes of millions of dollars to become a business owner. There are several online businesses that you can do to be successful.

The problem with a lot of people is ignorance. Also, many want quick gratifications. So many people are not ready to stay in a business for as long as ten years or fifteen years. If they are not getting immediate success, they give up. But know now that success takes time. Know also that you can now become an entrepreneur with very little money. All you need to do is to research or ask questions from people who are doing online businesses.

Why do some people become successful while so many people remain in deprivation? Knowledge and habits seem to be at the center of wealth and poverty. People who are in the know, have continued to warn about imminent economic crisis the result of which is that many will fall deeper into economic deprivation.

Some habits are the reasons why people experience poverty. I have explained some of them in this article. Should you determine to read this article, my hope is that you will find it helpful and it may enable you to determine to do otherwise and by so doing, you will achieve success.