The biggest mistake people make with money

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Last modified: April 24, 2019

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The biggest mistake people make with money

  1. In a recent google search I discovered that at best only “4% of the population will ever be financially independent”.

    Anyone who’s ever started a savings plan knows that this figure is accurate, as the temptation to spend your money now far outweighs the sacrifice of saving and having more in the future.

    Maybe you haven’t discovered how much money our money can make by reinvesting our earnings; especially when working with a trusted adviser to help decide what steps and actions to take and which ones will be the most effective.

    Maybe you are saving because we’re told too not realising the benefits from investing aligned to what’s truly important to you; or you’re still trying to figure it all out on our own.

    Whatever the reasons are, here are some sure signs that achieving financially independence will be a struggle for you.

    1. You’re a scaredy cat!
    2. You’re a nice person but you’re hopeless.
    3. You’re an egotistical, know it all.
    4. Money is more important than anything to you.
    5. Money isn’t important at all to you.
    6. You don’t have a sense of urgency.
    7. You’re a control freak.
    8. Failure and frustration gets you down.

    A constant characteristic of those who are financially independent is their ability to say no, be patient and delay their desire for instant gratification. They will tell you that staying strong or getting back up after their setback experience was both character building and a reaffirmation of their “why”, being more important than their emotions at the time.

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