Habits We Should Get Rid Of If We Want to Be Rich

I believe it's not just me but a lot of us here also dream to become rich and successful, a Millionaire or even a multi-millionaire.

I mean, who wouldn't want that? Who wouldn't want to achieve financial freedom so that you could have enough time to spend with your family and friends, and have the liberty to do whatever you are passionate about without being hindered because of the lack of money.

While a lot of us dream to be financially independent and no matter how strong our determination is to achieve it, it is still not enough to get what we want because of these bad habits that hinder us to become financially stable or a Millionaire. So here are the habits that we should get rid of if we want to be rich and successful.

1. Sleeping when you shouldn't

• A wise man once said, successful people are known to wake up early, which is true. There are a lot of businessmen and even billionaires who have a habit of waking up early in the morning. They believe that an early bird catches the fresh worm, which is an indication that you value your time well and it means that you will have a productive day. People who wake up early tend to finish work early too, leaving them having more time for other things that could help them to be more successful. While getting enough sleep or rest is essential, having too much of it will result in unproductivity.

2. Neglecting Your Health

• If you want to be rich, then you should aspire to be healthy too because Health is Wealth. You will suffer when are not going to prioritize your health and it will also hinder you to be rich and successful because you will just end up spending your hard-earned money paying for your medicines and hospital bills. Take good care of your body by eating a balanced diet, exercising, and getting enough sleep or rest. Your holistic health should also be taken care of, not just your physical self, but also your mental, emotional, spiritual, and also social health.

3. Relying on a single source of income

• If we want to be rich and successful, we should not just rely on a single source of income. Rich people have an average of 7 different streams of their wealth and they are always on the lookout for other opportunities that could give them passive earnings. So if we want to be like them, let's start building our sources of income, monetize our skills, and look for other side hustles.

4. Not setting a budget

• All of us need to create a budget and stick to it if we want to manage our finances well. It is a must that we have a weekly or monthly budget to follow so that we have enough budget for all of our daily needs. We can also know what expenses we should cut down to just in case we couldn't make both ends meet. By tracking all of our expenses, we will also know if we still have some money left intended for our savings.

5. Not paying attention to small expenses

• A great philosopher once said, beware of little expenses because a small leak will sink a great ship. That is why it is important to have a budget and stick to it. Having a budget and tracking all of our small expenses will help us focus on the more important things. These small expenses, when they are added up, become big and they can even destroy our funds over time. So be aware of those things you keep buying on online shops if they are really necessary or not.

6. Not thinking ahead

• Always thinking about the future can be draining sometimes but not thinking ahead will also put us in trouble so choose what kind of problem you want to deal with. Preparation is the key if we want to achieve greater heights in life. So if you don't want to be living your life in the future struggling with so many debts to pay, you should start saving and investing now and avoid spending money more than you earn because it will only create long-term poverty that is hard to escape.

7. Postponing

• Procrastination and always postponing are our greatest enemies in pursuing the kind of financial success we want to have. If we want to get out of financial stagnation, then we need to take action as soon as possible. We should not wait for the perfect timing, instead, we should make the time perfect. So stop postponing and making up excuses and just do what you need to do.

I am guilty of doing some of these things that is why I am also trying to remove these bad habits that I have because I want to achieve financial freedom in the future. How about you? Which among these habits do you have and what are you doing to remove them?

Cheers to achieving Financial Freedom!