Bad Money Habits, Poor Money Outcomes
Some blog posts I have to do a little ranting. This is one of those types of blog posts. You will either love me or hate me after this, but someone has to say it, and I've never been one to bite my tongue. In other words, I don't mind telling the truth, and the truth is, bad money habits lead to poor money results.
Let me preface with two quick points:
1. I CAN HELP. If you need help with anything in this blog post, please reach out to me. I WANT to help and I don't mind helping or offering some advice.
2. I've done every last one of the things on this list. I'm not perfect and never profess to be above doing wrong with money. But I didn't start winning with money until I eliminated each one of these things from my vocabulary and my thought process. I changed my thinking, and thats when I made serious strides financially.
So Lets jump into it. Here are some bad habits that lead to poor results:
1. Flossin. Let me just say it like this: Materialism leads to poverty. Real money speaks softly, while fake money is flamboyant and loud. Impressing people you don't like, or don't even know, with clothes, cars, shoes, bling bling, and other stuff, is not something people who are winning with money do. I'm not saying image doesn't matter. I believe that image matters a lot, but you don't have to spend a bunch of money to impress people. If most of your time is spent around people that judge you and your friendship based on what you have, you need to change your circle of friends. I'm saying get out of the habit of trying to impress people with stuff. That leads to incredibly poor decisions with your money.
This is for all of the people who are buying $700 Coach purses, or purchasing $1,000 alligator shoes, and don't have life insurance. Or the people who are driving the $50K Range Rover while renting their home and swimming up to their eyeballs in debt. If your car cost more than you have in retirement account, then this is something you should think about. If this is how you choose to live, you are certainly free to continue, but you are absolutely destroying your future wealth. Like it or love it, it's just the truth!
2. Accepting, looking for, and depending on charity and handouts. Positioning yourself to accept charity of any kind is a weak position. Stop living life with a mindset of a sad puppy, as if your progress is dependent on something someone else (i.e. the government) should be doing for you.
YOU HAVE THE POWER WITHIN YOURSELF TO DO EVERYTHING YOU NEED TO DO TO BE SUCCESSFUL