The two words that stir hearts and minds in our highly competitive modern society. The Holy Grail that most working adults pursue, something with their entire lives.
Yet despite the fact that most of us aspire to achieve it in our lives, we somehow convinced ourselves that it’s nothing more than wishful thinking.
Here’s 5 reasons why you’ll never attain the financial freedom you seek. (there’s more, but we try not to be overly depressing.)
#1. You Think It’s Impossible
The idea is very appealing. Not having to worry about money, travelling wherever you want, buying whenever you feel like it… Just when you start to get excited, a little voice at the back of your head screamed, “Stop daydreaming! That’s too good to be true! You’ll never make it!” And you yield.
This mind set is what prevents most people from ever reaching financial independence because they choose to believe that it is impossible even before they try. Successful people are never deterred by the impossible. Instead, they simply asked, “How can I make it POSSIBLE?”
If you lack knowledge, read. If you need coaching, find a mentor. If you need motivation, surround yourself with those who are more successful than you are. So long as we are open to all possibilities, there’s always something that can be done.
#2. You Lack a Clear Game Plan
Imagine building a house without an architecture plan or layout. Do you think the house will stand? Similarly, relying solely on a strong desire to get something done is not enough. You need a clear plan of action to help you work towards the end goal.
Start by asking yourself some questions: What is your plan for the next 3 to 5 years? What are the actions and resources required to achieve those goals? How can I break them down into manageable benchmarks?
Failing to plan is planning to fail. Cliché I know, but a time honoured truth advice nonetheless. Take some time to draft out your plans and review them periodically. Writing down if you need, or read them aloud and record them. Whatever you do, make sure you stick to it!
#3. You Can’t Differentiate Needs and Wants.
Imagine walking past your favourite store and seeing a new product in the display window. Do you succumb and make an immediate purchase, or do you hold out and evaluate the potential purchase for at least a day or two?
Those who belong to the latter group are people who mastered delayed gratification. Studies have shown that delayed gratification has far reaching impact on a person’s financial future simply because these people are more prudent with their money, which means they are more inclined to invest for longer and better returns on their money spent.
The next time you are going to buy something, ask yourself if it’s something you need or want. As you practise more it’ll get easier.
#4 You Don’t Want to Leave Your Comfort Zone
You probably heard this before, “the nail that stands up gets hammered down.” Human beings have a natural tendency to avoid things that made us uncomfortable, but if we are to change successfully, we have to embrace and over this inhabitation.
I’m not saying it’s easy. In fact, it could be a potentially painful learning process to leave what we know and venture into uncharted waters. But you don’t need to do this alone. Talk to your family and friends about your intentions, explain to them why you want to do this, and seek their encouragement and support. This is where a concise plan and a positive can-do attitude will go a long way!
Remember, you are suffering today for a better tomorrow. So hang in there and change for the better!
#5. You’re Unwilling to Make Sacrifices
Admit it, you don’t want it as bad as you think you do.
How many times have you came back from school or work and slumped on the sofa, refusing to engage in anything else other than to watch TV or play consoles? How many times have you opted to hang out with your buddies rather than spend time brushing up your knowledge and skills?
Financial independence doesn’t happen overnight. It requires time, patience, and effort which means it’s a constant rise and grind until you make it. If you want to be financially independent, then you have to make certain sacrifices. With time you’ll see the rewards.
But whatever you do, the sacrifices made should not come at the expense of your family or your health. After all, there’s no point in gaining wealth when you neither the means nor loved ones to share with.