Get Rich

We often say that I want to be rich, but many of us don’t know why we can’t get rich. Here are the four reasons to make you aware of your failure.    

Although we unknowingly blame fate for our being rich and poor, our actions are largely responsible for making us rich and poor. 

There are certain conditions for becoming rich or living in affluence. If you read this article throughout you will know how to become rich. Apart from this, there are some strategies to become rich quickly. You can follow them.

Firstly, we will try to put forward the issues behind the failure in the race of getting rich. Secondly, We show how they work to stop you in the race, and finally, there will be a summarised conclusion at the end. Therefore, we hope you will read the article thoroughly. 

Then, on the one hand, you will be able to know about the obstacles to get rich. On the other hand, you can find out what the key to getting rich is


Four Reasons You Can't Get Rich

How to get rich? I have spent a huge amount of time looking for the answer to this question. I did tons of research studied a lot of books, journal articles, watched TV shows and YouTube podcasts, and so on.

Finally, I have been able to find out the four issues responsible largely for it. I mean stopping you from getting rich

Firstly, we will mention in the bullet points. Then, we will look into these four reasons that do not allow you to become rich. Let's see what the four reasons are.

  • No expense tracker

  • Superfluous spending

  • Debating about interest rates and stock markets

  • Be influenced by others

How do the four factors prevent you from getting rich?

Basically, the above four factors are very subtly pushing you away from getting rich. However, the mystery remains as to how they are becoming an obstacle in the way of getting rich.

We will unravel all these mysteries in the discussion below. Since above we have just mentioned the reasons, but now let's show how these are preventing you from getting rich. Even they are pushing you into poverty.


No expense tracker

Expenditure monitoring is basically a close look at how your earned money is being spent. Although this is one of the main reasons for not being rich, most people are indifferent and do not pay much attention. As a result, the spending flaw does not remain the same. Even sometimes it goes up. So you have to face a financial crisis in some cases. 

Here's an example of how your money is being lost due to a lack of proper supervision. We get to see a lot of fat people around us. But they did not get fat in one day. Actually, they have become fat gradually.

And the main reason for their obesity is the lack of health awareness. This means that they do not care at all about the amount of calorie deficiency in the body. But you should take calories according to your body's calorie needs.

Similarly, your personal money is constantly being lost due to a lack of proper supervision. There are many of us who are not proactive in money planning. Basically, it is necessary to spend according to the deficit in line with earning. Even some of us do not flinch at all. 

Now the question arises, how to control such a situation? In answer to this, we will say that you can solve it through budgeting method.


Superfluous spending

The next big issue found in my analysis is to be superfluous in spending money. This means spending more than you required. Which affects your personal finance very badly. Even in some cases, you do not realize it. 

One of the steps you can take to curb your uncontrolled spending is to make a list before spending.

In addition, you will give priority to those spending sectors that are more necessary. 


Debating about interest rates and stock markets

Thirdly, it is useless to judge good and evil without trying to get an accurate idea about the interest rates and the stock markets

For example, many people who do not eat less and do not exercise regularly. But they are looking for good quality protein foods.


Be influenced by others

Finally, extreme stupidity to be easily influenced by the words of others. Many of us are influenced by others instead of reading some useful books on Personal Finance. For example, parents, friends, etc.

Therefore, most of the people failed in the race of being rich. It is important to have a good idea about personal finances in order to acquire wealth.

A study of the biographies of rich people reveals that they love to read books. It is pertinent to note that Mr. Bill Gates, one of the richest men in the world,  reads books every day. "When I start reading a book, I end up reading it," he said in an interview. It is also one of the secrets of getting rich.

Because no one goes bankrupt after reading a book. Rather acquires skills. Basically, we are more influenced by the words of others than the advice we get from research. Let not yourself be influenced by others, because this regarded as the hindrance of being rich life. 

You should have a balanced income and expenses to live a prosperous life. And to achieve this, it is necessary to have sufficient knowledge about personal financing. So you can read books for knowledge about personal financing. 

As a result, you must aware of four reasons you can't get rich.


Conclusion

In conclusion, equality of income and expenditure, and sector-based spending are enough to make you rich. So if the above four factors are observed in you, avoid them. However, you will be able to reach the desired goal. We hope you find this article helpful.


If you have any questions, please throw in the comment box. 

Cheers!