Subtitles section Play video
-
If there is one thing that we all have in common is probably the lack of money.
-
No matter how much money you make, you always feel like you wanna make more.
-
Every time you reach a certain milestone, somehow your expenses increase and you feel like you are not making enough.
-
There are many reasons why some of us struggle financially and others don't.
-
But one of them is definitely how we spend our money.
-
In fact, a lot of people have certain spending habits that actually keep them poor even if they have 6 figure income.
-
And to be honest, I have had some of these habits myself some time ago and when I got rid of them, financially my life has improved drastically.
-
I have been able to manage my finances better and save a lot of money.
-
One of the main reasons why a lot of people are actually poor is because they spend a fortune to get other people's approval.
-
They are in constant need of validation.
-
Their self-esteem is directly affected by what people think of them.
-
When you are so dependent on other peoples' opinions, you end up buying things that you don't need to impress people that don't even care about you.
-
Take a moment and think about the things that you have bought because you wanted to impress people, I am sure you can write down a long list.
-
Especially, if your friends, for example, move to a bigger house or get a better car, you immediately feel like you are falling behind
-
And you should step up your game as well, otherwise people are going to look down on you.
-
And now ask yourself, how much you would have saved if you didn't buy all that crap?
-
Since we are emotional creatures, we crave for recognition and one of the easiest ways to do that is to buy whatever people find impressive.
-
If you are giving up to your insecurities, you will keep wasting money.
-
They will keep dragging you back.
-
Remember, if you are not emotionally healthy, you are never going to able to get financially free.
-
Your insecurities will keep pushing you to waste money that you could have saved to invest!
-
If someone is going to hand you a million dollar, you can blow it up in a single day and get back to where you were yesterday.
-
Earning money is really difficult but spending it is the easiest thing in the world!
-
Part of the reason why some people are rich is because they prevent themselves from spending that money quickly and irresponsibly, which is what separates them from the poor.
-
The problem with us is that we have few needs and yet unlimited wants.
-
And the moment we lose our discipline and give up to our desires, we waste all the money that we worked so hard to earn.
-
Some people are going to say, what's the point of having so much money if you aren't going to spend it to have fun?
-
The problem is that your wants will never end, you will always want more.
-
You will always want another girl, no matter how many girls you hung out with.
-
So the wisest thing to do here is learn to have fun with the least amount of money.
-
A meaningful conversation over a cup of coffee with close friends is much more fulfilling than wasting a fortune to party the entire night.
-
The point isnt to become a monk and get rid of everything you have but rather discipline yourself.
-
Draw a clear line between your needs and wants!
-
And remember the goal isn't to look rich but to be one!