8 Habits That Keep People Broke for a Lifetime

To stay broke for a lifetime is a choice you make

Broke for a lifetime! How does it sound? Depressing, right? But does it have to be like that?

No, no, and a big fat NO!

To only watch people stay broke is depressing. Not because they have run out of money but because, in most cases, they accept the situation as poor and will remain broke for a lifetime.

I’m not a billionaire, so don’t worry; I’m not here to brag. I’ve been broke many times. That could be the reason I can see the whole thing from a different perspective.

In this article, I aim not to shame you, make fun of poor people, or talk down anyone.

Instead, I decided to write this article to open up people’s eyes and…

Be aware of what will keep you broke for a lifetime
How to solve it

Admit if These Habits Keep You Broke for a Lifetime

The top reason individuals experience a lifetime of poverty is “not” due to a lack of effective time management.

Don’t dismiss this fact thinking it doesn’t apply to you because the consequences are real and lasting.

Continue reading because of the following bad habits we have all fallen into sometime in life. I have fallen into these traps several times and more than once. So here are the 8 bad habits and how to overcome them.

Afraid of spending money

What has money to do with time? It’s almost normal to believe these variables have nothing to do with each other.

People often fear spending money when they don’t understand time. Money becomes a mathematical representation of time.

When you say that you can’t afford the price, you are not willing to spend money to grab the opportunity because you think that you can use time much better to achieve what you are heading for.

The reality is that broke people will stay broke for a lifetime when trading their time for money.

So, how to get off this “rat-wheel”?

Mentalize yourself that to earn money, you need to spend money.

A good rule of thumb is to apply the formula one-to-two; to earn $100, you need to spend $50. Finding that system allows leveraging your spending and earnings to follow the one-to-two path.

Now, seldom your first spent $50 will let you earn $100 the second day. It doesn’t work that way. But doing it correctly in the long term, your $50 spending will probably give you $1,000 or more in return.

Invest in the correct system for you; sooner or later, you will experience that money and time are very much linked together. It’s about how you use your time efficiently. If you can master your time, you will also be able to master money.

Someday becoming MAYDAY!

Perhaps you know what you should do. You know precisely what you need to spend to make it happen. But…

“This is not a priority right now.”

“I need to think about it.”

First, I need to do some other things.”

…so on, and so on.

In a more sophisticated way of expressing the same thing, this is called PROCRASTINATION.

We have gone through the magic of managing your time correctly in previous articles. The truth is that there is enough time today. Just block the time you need and make it happen!

To say “someday” will sooner or later turn out in your “MAYDAY!”

To say “someday” will probably keep you broke for life. Someday is a lie to yourself you need to get rid of today.

Excuses will keep you stuck and broke for a lifetime

We all come up with excuses sometimes. It’s part of human behavior. But do you know what?

Excuses are a nightmare!

There can be many reasons why you don’t take action, like:

Uncertainty
Fear
Feeling uncomfortable

In these cases, you should get to the bottom of each of the excuses or cancel the entire project you have in mind.

There are a few things like excuses stealing so much time from you. Remember that you only have 24 hours a day. Use them wisely.

To stroll around with excuses the whole day will only destroy your future. Remember the time (24 hours a day), and time and money play in the same game.

You need help BUT don’t know where to find it

Any entrepreneur, whether offline or online, has come across this.

You know what has to be done, but for any reason, you can imagine you just can’t solve the problem you have in front of you. When you belong to a community like the one I belong to, you know you can find someone here to help you with the problem. But you keep it for yourself.

Imagine all the time you’re losing by not asking for help. Perhaps you are too proud to ask for help, or any other similar reason holds you back from getting that support that is just a call away.

As time passes, you get stuck, use excuses…well, you know the story.

“Am I going to spend the next weeks watching training videos?”

Can you see: It’s all about time. But if you view time as a money-producing variable, it all gets a different dimension. In a way, time is money, and what is the best thing to do if you need help to solve an issue?

GET HELP!

Do you lie to yourself?

This is a good one or a sad one.

If there is something that broke people are really good at, it would then be to lie to themselves. They make commitments and plans in all possible shapes but never follow through.

How often have you made a New Year resolution that failed within the next two months? That’s a warning!

To blame somebody else or the circumstances is something broke people dedicate the main part of their time to do. The lies start to be so sophisticated that suddenly, you may begin to believe in them yourself.

Get a mentor or a community that can “keep an eye on you, keep you accountable, and help you progress towards your goal.

Do you label yourself as a victim?

How do you usually respond when somebody challenges you with a question about why you haven’t taken a certain path in life?

“I’m too old…”

“If I only had money…”

“As a single mother…?”

“I’m retired, and…”

Can you relate to any of these answers or something similar?

Refrain from confusing it with excuses, a statement about why you are not doing things. Here, we are talking about victim labels. With these expressions, the broke for a lifetime is searching for sympathy and not solutions.

Sometimes, life is not what you think. When flashing out these victim labels, you seldom get any sympathy. We all have our own battles in life. Usually, people prefer to worry about their own problems instead of wasting time to create sympathy for your s*it (excuse my French.)

Erase all victim labels and take advantage of adversity to create and grow self-empowerment. It’s incredible how a community of like-minded people can boost your self-confidence.

Acting as a busy bee.

Lacking realistic goals, planning your projects, and making commitments you deep inside know you never will fulfill are the most time-stealing habits you can have.

You make an image of yourself to be very occupied and dedicate yourself to something full of stress and anxiety. It’s true about stress anxiety, but because you spend your entire energy running around doing almost nothing.

Efficiency optimization should be one of the most critical tasks on your agenda. It will help you to organize everything….well, your entire life. You will say goodbye to a life as a “busy be.”

You are everywhere but nowhere

When I entered the online business world more than nine years ago, my enthusiasm and motivation were on the highest possible level. I was impressed by all you could do in this, for me, completely new environment.

Gurus I trusted started to bombard me with messages about the importance of being an expert on Facebook, Instagram, LinkedIn, Twitter, YouTube…and so on. Without experience and knowledge, I suddenly discovered that I was everywhere without really being anywhere where I could create my audience, which is so essential for the base of my business.

Choose one channel and become an expert to get out of this “anywhere-nowhere” syndrome. In my community, you get helpful training and coaching on becoming an expert on any media of your choice.

But focus only on one and become an expert before adding another media to your business model.

How to prevent an unexpected disaster in your business

The time-money habits to control are essential to prevent being broke for a lifetime. However, sometimes in life, things that aren’t supposed to happen occur. You can’t predict everything, but there are many steps you can take to minimize the risks for you.

In this video, you’ll get an example of the disasters I faced recently, far away from home.

Here are the links mentioned in the video:

https://tvdmexonline.com/LaunchYou61123

https://tvdmexonline.com/community61123

Take my story as a wake-up call for you. Yesterday, it can be your turn, and by preparing as much as possible, you’ll also minimize any significant loss or disaster.

First Steps to Not Be Broke for a Lifetime

With these 8 habits holding you back to be where you would like to be, there are some simple but essential steps to take to change direction in your life.

Make a list of everything you’re doing now
Next to each activity, be honest, and make the following comments next to each activity
Do you want to do what you’re doing
Is the activity really a priority, or can you downgrade the importance
Can the work be outsourced

After doing this simple exercise (without cheating yourself), you will get a document with the truth for you. You will know what is stealing your time, which in the end is money.

Doing it seriously will make you wealthy, and you will have abundant time for things that matter most to you.

By joining the same community, system, and platform I belong to, you will get more in-depth tips on improving efficiency in your life and starting a business of your choice. Click the box below and make a life change today!