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5 Reasons Why Most Don’t Become Wealthy

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Five Reasons Why Most Don’t Become Wealthy

Have you ever thought why most people don’t become wealthy? According to best-selling author, motivational speaker and self-made millionaire, Brian Tracy there are five reasons why most people don’t become wealthy.

1. It never occurs to them

The first and probably the most important reason why most people don’t get wealthy is that it never occurs to them. Brian Tracy explained: “The average person has grown up in a family where he has never met or known anyone who was wealthy. He goes to school and socializes with people who are not wealthy. He works with people who are not wealthy. He has a reference group or a social circle outside of work who are not wealthy. He has no role models who are wealthy. This is why people who grow up in homes where their parents are wealthy are much more likely to become wealthy as adults than people who grew up in homes where their parents are not.”

2. Never decide to become wealthy

The second reason most people don’t become wealthy is that they never decide to become wealthy. Many people want to become wealthy but they never decide to become wealthy. Deciding means truly committed to become wealthy and to take action.

“Wishing will not bring riches. But desiring riches with a state of mind that becomes an obsession, then planning definite ways and means to acquire riches, and backing those plans with persistence which does not recognize failure, will bring riches.” – Napoleon Hill, Think and Grow Rich

3. Procrastination

One of the biggest obstacles in success is procrastination. This is the third reason why most people don’t become wealthy. Most people procrastinate. They always have a good reason not to begin doing what they know they need to do to achieve financial independence. It is always the wrong month, the wrong season, or the wrong year.

4. Inability to delay gratification

The fourth reason that most people don’t become wealthy is the inability to delay gratification. Brian Tracy wrote: “The great majority of people have an irresistible temptation to spend every single penny they make and whatever else they can borrow or buy on credit. If you cannot delay gratification, and discipline yourself to refrain from spending everything you make, you cannot become wealthy. If you cannot practice budgeting as a lifelong habit, it will be impossible for you to achieve financial independence.”

5. Think short-term

The fifth reason that most people don’t become wealthy is most people think short-term. Thinking long-term require patience and most people don’t have patience. Wealthy people think long-term while the average people think short-term.

SEE ALSO:5 Must Read Books on Wealth Creation

Featured image credit: Pixabay

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