What's killing your wealth?
Why can't you make it? Why so dull in life? Why do you think everything looks complicated? What's really the reason you can't progress? Why are you so scared to start? Even to plan? Why are others richer? What am I lacking? What's killing your wealth is "WHAT IF"!
WHAT IF I fail? What if it doesn't work out? What if it's not nice? What if no one likes it? What if people don't buy? What if I don't make profits? What if I lose? What if it's a waste of time? What if I fall sick? What if I die?
All these negative rhetorical questions you try to seek is the reason you can't be wealthy! What if you can make it? What if it works out? What if you become the best? What if you live well? What if you don't lose? Why don't you go ahead and try before you conclude a matter.
The paradigmatic nature of man has been put as "I'm too scared to fail". Why not scared to succeed. It has been vaguely made to people that being rich is key but the road to wealth has sometimes been circumspective. We feign we know not how to get rich.
Of course many people including you want to have a lot of money, flashy cars, a life time insurance, trips to transforming places. Are you cocky you're going to attain all these? Where does your money come from? What will happen to you if your source of money is no longer a solid foundation? Back up? What’s your next available source of income if you suddenly lost your job? Or a parent died? Have you saved enough?
Many people have built expensive lives they can’t sustain because they continuously spend everything they earn and such have a revolving problem on their money. What’s killing your wealth? Saving to spend instead of saving to invest and build. I think it’s because we are raised to be nurturers so any extra income often translates to more money spent on improving the immediate we see, buying clothes, renting expensive apartments, shopping etc.
What if I can’t make a lot of money? What if you can? Being broke means, if you lost your primary source of income today, you wouldn’t be able to maintain the lifestyle you have become accustomed to because you have no assets to rely on. Ultimately, how we behave with money is deeply rooted in how we think about money.
So can’t I spend my own money? Why can’t you also invest and build your own money. For some people, the subject of personal financial management can be somewhat daunting.
I don’t receive much, there’s no way I can invest in the little I receive, I have a lot of expenses, what if I don’t earn. These petty replies are often a dispute over our finances. Actually, there’s a popular saying that ‘little drops of water make a mighty ocean’. So really, a little saving a day keeps poverty away.
Acquiring and maintaining long term is a process. There usually are no shortcuts but the rewards over time, are well beyond the thrills of instant gratification. In general, we are not taught in any formal framework how to keep money or grow it – basic personal finance skills are difficult to learn.
What’s there to do? First start by believing in your potential. Avoid the WHAT IF’s, track your expenses. Avoid impulsive spending; buying things not planned and spending on things not really necessary. Also develop the habit of saving. Saving to build and not to spend. You succeed when you do what other successful people do over and over, until these behaviours become a habit. STOP KILLING YOUR WEALTH NOW. START MAKING IT.
Excerpts from; the smart money woman by ARESE UGWU
AKPLOR JANET AKORFA
+233 57 440 2178
Disclaimer: "The views/contents expressed in this article are the sole responsibility of the author(s) and do not neccessarily reflect those of Modern Ghana. Modern Ghana will not be responsible or liable for any inaccurate or incorrect statements contained in this article."
Reproduction is authorised provided the author's permission is granted.