When I was growing up, the limit of my financial education was my parents telling me “To buy only things I can afford in cash”. Looking back, this was a huge life lesson and it has probably shaped my relationship with money to this day. I always had the voice of my dad in the back of my head guiding me on any significant purchase. And even in business, we rarely took on debt. If we couldn’t afford something, we just didn’t buy it, until we could actually afford it.
But most people don’t think like that. The reality of life today is that we have access to nearly unlimited sums of credit and if we want something now, we can generally buy it at a moment’s notice and with little friction. And that’s regardless of whether or not we can actually afford it. This is normal, not because it’s right, but because everyone else is doing it.
Money habits like this are stopping people from getting out of debt or building true wealth. And that’s the purpose of today’s video. In my view, there are 9 “normal” money habits keeping you poor. Most people are making these mistakes without even realising it and today I‘m shining a light on each of these to help you tackle them head-on. If you recognise yourself in any of these scenarios, good. That’s the sign to take action.
