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I’m Not Rich Because…

By: MD | Date posted: May 03, 2012 (6:00 am) | Write a Comment (2 Comments)

“Time is more valuable than money. You can get more money, but you cannot get more time.” – Jim Rohn

What’s holding you back from being rich? We all know that it’s not about how much money you make because how much money you save is more important.

I’m not rich because I go out often. I enjoy getting out of the place. I love to go out. I love to train. I enjoy meeting up with friends for drinks, coffee, or just to chat. This of course isn’t cheap. I enjoy experiencing new things. I look forward to seeing what’s out there.

That’s why I’m not rich.

Many of us aren’t rich because we spend far too much of our money. I wanted to take a moment to look at what’s preventing us from saving real money:

  1. Unrealistic lifestyle. We can all be guilty of living an unrealistic lifestyle at times. When you work hard you feel like you deserve to spend money and enjoy yourself. The problem is that we get unrealistic and spend more money then we even have. We start to spend money that we don’t even have. We spend money on things that we absolutely don’t need (bottle service, expensive parties, eating out, and so on).
  2. Credit card debt. That damn piece of plastic has the ability to hold us back for a long time. You’re out at the store, you see something that you want, you swipe your piece of plastic, and it’s all yours. That’s cool, until you get the bill and realize that you don’t have the money.
  3. Not paying ourselves first. If you want to save any money at all, you need to get into the habit of paying yourself first. You simply go to your bank or your employer and ask them to take your money from your paycheck first. Then you can spend the rest of the money. You just need to pay yourself first if you want to save any money.

Are any of these reasons holding you back from saving money? We all have our own reasons for not saving money. As important as income is, we all need to get into the habit of actually trying to save some of our money instead of spending it all. If you need any proof you just need to look at celebrities. They make millions of dollars and yet so many of them manage to die broke. How’s the possible? Because they didn’t save any money.

Not to harp on a subject that has been written about to death, but if you want to get rich in your lifetime, you need to embrace the idea of actually saving money and taking your finances seriously.

What’s holding you back from saving more money? Fill in the blanks. I would be rich if…

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2 Comments »
  1. Comment by ImpulseSave — May 3, 2012 @ 11:41 am

    What a fascinating question. Thinking about it seriously, there are many things that keep me from being rich. Student debt, a small salary, and paying for grad school are just a few of these. If I really wanted to be rich now (or at least soon) it would take a lot of saving and a lot of things would have to change that are quite out of my control. Someday I may be rich, but even if I’m just financially secure and living the life I love, I think I’ll be happy.

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