7 Bad Habits That Keep You Away From Getting Rich


These 7 bad habits are the reasons why you couldn't get rich. It's time to change, get rid of these bad habits!





There goes old saying, "money is a good servant but a bad master", which implied that successful people earn their wealth by capital gains, thus generating flows of passive incomes. However, not many people could gain such wealth and fortunes because of their complacence and indulgence in these following bad habits:

it is time to change


1. Taking too many loans and ignoring your credit history.

Getting loans are easy, paying them off before due aren't. Many people take shortcut by taking bank loans as solutions for financial difficulties without considering how to pay them back. More so, currently people can be granted with multiple loans/credits within a period of time, for car, house mortgage, credit cards, and so on. What people often miss is the fact that they should be keeping tab on principal + interest and when those loand should be paid off.

Things could get even worse when you start pilling up loans/credits and neglecting your credit history checkup. The next time you urgently need another loan, you'll get rejected by the bank due to your bad credit history.


2. Foregoing financial planning

Most people manage their income in line with their expenses, as in spending all of your monthly wage every month (or even more than that by maxing your credit cards). You may be able to save some in early month, but it's likely that you will find yourself spending it all eventually from time to time.

If that's the case, what's the odd of getting rich? Nill. No matter how often your wage rises, it won't be enough as your needs and wants keep increasing along with your income.

This is why, it's important to develop a budget plan. Allocate your income into several parts, some of which to pay off your debts, some other to fulfill daily needs and bills, and keep some of it for other purposes.  It can be as simple as making sure you'll have enough saving to secure a business or investing to specific financial intruments. With that in mind, you can start measuring actual steps or "strategy" to reach your end goal.


3. Neglecting budget and investment planning

Living a carefree modern life has led many young people to financial negligence. According to a recent research, 19% of American millenials does not arrange their budget at all, while 26% only arrange budget to pay monthly bills and spending the rest of their income carelessly.

Look for financial targets. When you have it, arrange budgets and investments. Allocate certain percentage of your monthly income for daily needs, paying loans, and don't forget to spare some of it for emergency reserve, retirement planning, and investments. You may even spare some for charity if you are willing.


4. Feeling Satisfied With Status Quo

Nothing stays the same. Everything can change. However, not many people are ready for change, especially those people that is already "indulged" in their current financial condition.

A wife passively managing her husband's monthly income without enough savings or investment planning. When her husband died leaving many responsibilities, she couldn't manage due to "no money, no skill". Or an employee relying only on his monthly wage and couldn't cope financially when his workplace got closed due to bankruptcy.

It's an old wisdom to keep all the grain reserve in granaries before incoming winter. Ironically, modern people seemed too complacent to even notice that winter (changes) may come anytime soon. Getting rich, in a way, is to make sure you have enough reserves and investments to buy you time while you cope and adapt with changes.


5. Not investing in yourself

Many people are not aware of this simple fact, the best investment is investing in yourself. No matter how good your investment plan is, you will not be able to run it without being sound physically and mentally.

That's why you need to invest in yourself. Maintain health, expand knowledge and hone your experience. Never forget to develop yourself into a better person, even though you have reached financial freedom.

Getting rich is more feasible when you become a better person; working more efficiently, making better (and more profitable) decisions, and able to adapt faster in changing condition.


6. Keeping all the egg in a basket

Old wisdom suggested that if you put all your eggs (wealth) in only a single basket, you could lose them all when the basket falls. No matter how good an investment or security may sound, there's no guarantee that it will stay as good as it was.

It's safer and more profitable if you can manage different sources of income, so when one well has dried up, you can simply lean back to other options. Let's say you're an employee and you just got a pink slip. Worry not, you can still manage earning from real sectors like properly leasing or small restaurant or from financial sectors like stocks or forex trading.


7. Idle money and savings

Most people could manage some savings, but only minority of them actually do investments. If you're looking to raise more fortune, you need to change this bad habit.

Don't let your money sit idle on bank accounts. Do note that bank may cut your deposit for administration purposes in equal or larger amount than current interest. Instead, learn how to generate passive income by investing in particular assets.

You can pick assortments of investments these days. So be it investment in real sectors like franchise, opening small shops, property leasing or as creative as making social media networking and setting up dropships (third-party shops) there. Alternatively, you can invest in financial sectors like purchasing stocks and bonds, hedge funds, or learning how to trade forex. Whichever choice(s) you came up with, remind yourself not to let a large sum of money sitting on your bank account.



The first step of getting rich is to generate much larger income than your expenses. Common conducts may lead most people to feel satisfied with bare minimum savings and good ol' convenient jobs. However, savings and monthly wages won't be enough in modern world where everything (mostly) needs money.

You need to develop "financial awareness" and get rid of those 7 bad habits mentioned above if you want to generate more income than your expenses.

Rio Renata aktif menulis di Seputarforex sebagai penulis artikel forex dan broker dalam dua bahasa, khususnya mengenai aspek teknikal. Karena berlatar pendidikan psikologi, ia memandang pergerakan harga pasar layaknya dinamika perilaku individual, yaitu memiliki pola tertentu yang dapat diantisipasi.