Three Things That Keeps You From Making More Money

by TK on April 11, 2021

Everyone wants to make more money and save more money.  But not everyone knows how to do it.  Otherwise, there wouldn’t be so many people living hand-to-mouth, paycheck-to-paycheck.  Here are the three things you should avoid if you want to make more money.  

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Extreme Aversion To Risk

Risk is essential to making money.  And sometimes, lots of it.  Just ask anyone who has made a lot of it.  The axiom of “no risk, no reward” really rings true to the essence of making money.  Just think about all the people that took the plunge and caught the falling knife of stock market in 2009, they profited heavily from the bounce back up.  I took quite a bit of risk in my ventures and now I have recurring monthly income that subsidizes my main income.  The important thing is to take calculated risks—meaning you have to think about the odds of you coming out on top as a result of taking the risk.  Uncalculated risk is gambling…and belongs in the casino.

Being risk adverse isn’t necessarily a bad thing—there are a lot of really successful risk adverse people.  There is nothing wrong with a little bit of risk aversion when it comes to making money.  However, if you really want to make huge amounts of money—it comes with a certain amount of sacrifice and risk.  So if risk adverse people want to make some money, they have to be willing to roll the dice every once in awhile.  A fair amount of immigrants from third world countries are risk adverse.  It is because they have seen so many things that can go wrong—so they are know to save for a rainy day.

Not Being Able To Manage Your Money

“It’s not about how much you make, it’s about how much you save.”  You hear it all the time, athletes going broke after blowing their millions.  Making more is only half of the equation—you need to learn how to keep the money you learn and learn how to make it work for you.  Some people think that managing your money is sitting down and writing down a budget to abide by.  But it’s not (only) that.  If abiding by a budget is your thing—then go for it.  But managing your money means that you have differentiated what you can and should spend money on and what you shouldn’t spend money on.

Being Lazy

I saw a really good quote once on my Facebook stream.  ”Good things don’t come to those who wait—they come to those that work their asses off.”  Your ability to work for what you want will be the ultimate deciding factor in you making money.  No one ever made any money sitting on their asses.  Get your brain working and your body moving.  Usually laziness comes from a lack of motivation to better oneself.  When you are lazy, it just means you do not want the money bad enough—you do not want to make money bad enough to get off your ass and start taking action.  Another reason for laziness is just simply being overwhelmed and not knowing what your end goal is.  To remedy that, you need to sit down and come up with a definite end goal—a plan on how you can make more money—whether it is a 6 month plan to get that promotion everyone is vying for or a ideas for a website to make residual income.

 

Avoid these three things above and you will set yourself up pretty good financially.

 

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