Wednesday 3 January 2018

7 Reasons You're Not Rich Yet and How to Change It.

negative to positive thinking
Are you unhappy that's you're not rich yet? Do you struggle with debt? Are you looking for ways to get ahead in the money game? We're sharing 7 reasons you're not rich, and how to change it. Go from broke to bounty - we'll show you the way.
Financial Security First
You may have riches galore in family relationships, love from the Lord, and spiritual fulfillment. Yet you always seem to need more money. How can you achieve financial security in a way that honors God and family and doesn't break you? There are reasons you're not rich and simple things you can do to have more money. The first one is the plan.

No Plan to be Rich
Everyone needs a complete money plan that includes earning, saving, and spending. If your plan is whining, wishing, and spending you will never be rich. You need a budget plan that takes into account what you are currently earning, sets aside an amount for savings (every pay period), and limits spending. How you spend matters too. 

Debt By Borrowing
You've heard it before; you shouldn't spend what you don't have. Credit cards and loans allow you to live beyond your means by giving you a quick fix to a financial crisis. Unless you have an affordable repayment amount figured in your budget - don't even consider paying by anything but cash or debit. 

Living Beyond Your Means
Millionaires go broke too. There's countless examples of high-earning superstar athletes or celebrities declaring bankruptcy because they spent more than they earned. From where you sit you probably think "How is it possible?" Regardless of how much money you make, it's essential that you spend less. You must firmly take control of your expenses.  
Generosity to a Fault
It's human nature to always want more. Not only more for yourself, but more for the people you love. When you are blessed to be surrounded by loved ones, it's natural for their problems to be yours. Help out Auntie with her rent. My daughter needs money for college. The church has an important mission to support. Opportunities for generosity are everywhere. You have to be strong enough to say "no." If you are always saying "yes" to others who come to you for money, you'll never get your own financial house in order. There will never be a time that you will be in a position to say "yes" to requests of financial help unless you say "no" first.
Emergency Fund Unfunded
You will never be rich until you scrimp, save, and sacrifice to build an emergency fund. Once you have a sizable emergency fund then you can start a savings account for retirement, and another one for extras. Auto deposit or debit makes it easier to save. Don't put pressure on yourself to save after you have the money in hand - do it before. Saving should be the first line item on your budget plan.
Waste Not Want Not
You need to stop wasting money, time, and resources in practical ways. There are ways to shop for necessities that put a stop to impulse spending. Believe it or not, coupons and  sale items can be wasteful. Picking up a bargain that's not on your list is no bargain at all. Shopping at big discounters where huge quantities is the norm is also known to be more expensive in the long run. Keep menus simple, clothing purchases to a minimum, and find free entertainment alternatives until you've mastered your savings and budget plan.

Living By a False Prosperity Gospel
If you're a person of faith, you know the bible covers a variety of prosperity principles. There are prayers for prosperity, scripture that encourages charitable giving, and much more about the virtues of the poor. But the familiar prosperity gospel can be a false one. If you're using God to get things from Him, you need to change your ways. 

I rejoiced greatly in the Lord that at last you renewed your concern for me. Indeed, you were concerned, but you had no opportunity to show it. I am not saying this because I am in need, for I have learned to be content whatever the circumstances. I know what it is to be in need, and I know what it is to have plenty. I have learned the secret of being content in any and every situation, whether well fed or hungry, whether living in plenty or in want. I can do all this through him who gives me strength. 
Philippians 4:10-13 

Change It - Get Rich
You're not rich yet because you believe all the excuses you make. In reality, it's not circumstances that stand in the way of your financial success. It's simply overspending due to lack of planning, and lack of follow through. Are there exceptions? Yes. Health issues and scarcity of employment opportunities are both valid reasons for not being rich yet. However, your time will come. Be honest with yourself and identify which of the 7 reasons you're guilty of. Do things differently from now on. Commit to a smart budget plan that includes saving more and spending less money. When you do, money will be one more blessing to you.

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