1. Extravagant habits
Nowadays, with luxurious images and shopping trips shared by everyone on social media, it has created a competitive lifestyle for a generation of young people living aimlessly. This trend has become alarming as the public display of Sugar Daddies and Sugar Babies is increasingly common on the internet to satisfy the desire for shopping or serve an immediate luxurious lifestyle for young women. They want to enjoy luxuries too early, forgetting that this only diminishes the talents and abilities of the youth as they lack effort and hard work.
Instead, they want quick money to achieve a dreamy luxurious life in a short period of time. In reality, many families, even those who were once very wealthy, have fallen into ruin because they nurtured extravagant living habits. What more for those in the middle class who rush to follow this lifestyle. This bad habit can even spread and become a bad example for future generations. This is a warning sign that the moral and financial ethics of a family are beginning to decline, and this can be predicted without the need for fortune-telling. Essentially, extravagance is just a habit of the poor because in reality, there are neighbors who are billionaires but you may not even know.
Truly wealthy people usually do not wear the most expensive clothes and show them off to you. Those who are truly wealthy practice frugality and always remind their children about money management, as this is how assets are preserved in the long run. In fact, buying things based on advertisements only reflects a narrow-minded and trend-following mindset, while the mindset of the wealthy is completely different. They are very smart about money, knowing that every penny they earn must generate more money. Therefore, they rarely waste money on flashy cars or the latest handbags. They differ from most of us in their money mindset, focusing on the value of money they generate rather than the amount they possess. For example, a lottery winner can also be considered wealthy. However, statistics in the US show that 70% of lottery winners go bankrupt within a few years. The reason is their lack of financial acumen.
2. Being in debt
Pay attention to the people around you who are often in debt, they are a sign of uncontrolled spending habits, not only borrowing from you but possibly from everyone. Some of them may not even intend to repay their debts even after being asked several times, gradually losing trust from everyone. By devaluing their integrity, they jeopardize their business prospects and financial stability. Debt is a major obstacle to becoming wealthy.
American entrepreneur David Ramsey advises that the wealthy avoid debt. If they want something they cannot afford, they will save money to buy it instead of using credit cards or installment plans. If you continue to borrow and then have to repay, you will never escape poverty, as this cycle prevents you from saving any money. Therefore, it is better to live simply below the income you earn and strive to save to secure your future.
Being in debt is the most harmful spending mistake many people make. However, few realize that the wealthy only spend money on assets rather than consumables like us. For example, borrowing to buy a car or a house and similar concepts are not in their dictionary. They only do this when a car or a house can bring them more profit than the interest from the bank.
3. Preferring leisure
Even if you are knowledgeable and have great ideas, when it comes to taking action, you hesitate, become lazy, or if you fail, you become discouraged. If you still prefer leisure, sitting there dreaming without any meaningful action, it is pointless. It is ironic that lazy people see others working hard day and night and mock them for working so hard until they die. In reality, diligence only leads to lack of sleep and food, but it will be a long time before you die because when you are truly busy to the point that you have little time to rest, you still have enough time to balance yourself. However, if you indulge in leisure, you will remain poor. Many young people are energetic and enthusiastic, always proclaiming their determination on social media, always talking about studying, but as soon as they pick up a book, they fall asleep.
Preferring leisure means that after many years, your knowledge not only does not improve but also brings in many bad habits, gradually turning you into a lazy and pleasure-seeking person without willpower. This is a warning sign that if you enjoy too much for too long, you will not want to develop yourself, leading your family towards ruin. However, life is like rowing against the current, if you do not move forward, you will go backward. People who enjoy leisure will face difficulties when they come and will not be able to cope with the impermanence of life. Preferring leisure is easy to understand, but it also requires intelligence to know that only through continuous effort can you find a way out. Only through the process of continuous effort can a person control desires and know contentment. Only then can a person receive happiness.
People with intelligence understand that living in peace requires thinking about times of danger. If you indulge in a leisurely life for a long time, when difficulties arise, you will not be able to face the impermanence of life. The mind prefers tranquility is easy to understand, but it also takes intelligence to know that only through continuous effort of oneself, can you find a way out. Only through the continuous effort of striving upwards can a person restrain desires and know contentment. By doing so, a person can receive happiness.
4. Relying Habit
When seeking the answer to whether blessings can be exhausted, we realize that the most frightening thing is to enjoy all the blessings without creating new ones. When you have the habit of relying on others to serve you, it means you are using up your blessings. In life, there are many people in positions of power who oppress others hastily, not realizing that life is not always about keeping that seat. Do not wait until they fall into difficulties to treat them as they treated others. At that time, regret is useless, so people should show necessary tolerance and compassion towards each other, as sometimes love is more valuable than money. Do not think that money is all-powerful, wanting to do so is actually no different from a student pretending to be successful. People only respect those who live modestly and kindly.
5. Lack of Independence
5. Lack of independence
No matter how intelligent or academically successful you are, when you rely too much on your family, you are cutting off your own wings without realizing it. Your parents may be wealthy, but lacking independence also means lacking wisdom, so there is no guarantee that you will continue to be rich. The poor habit of depending on others and letting them lead your life is a waste of your own abilities. In the end, you still have to walk on your own feet to gain experience and knowledge because those are things you cannot borrow from anyone. So seek self-reliance to enjoy blessings.
An Indian billionaire with a huge fortune from the Diamond Group is willing to give houses and supercars to employees annually as rewards, but always pushes his children out with a small amount of money and requires them to learn to be independent. According to him, this is a way for his children not to rely on their billionaire parents. He teaches his children that they can sacrifice their sleep time to build great things. While friends sleep, the children have to work because there is no success in life that comes for free. If they indulge in entertainment all their lives, they will struggle financially.
If you are wealthy, you will never have to worry about money while sleeping. Be aware that to become successful and wealthy, you must first learn to live independently. Independence will give you the courage and confidence to make decisions for yourself and your life.
6. Wasting time
We often complain about why we are not getting rich without realizing that the poor habit that few recognize is wasting time. For example, finishing work at home, eating, cleaning up, and doing everything until midnight, then going to bed, waking up the next day to work and repeat the same tasks, where do you find the time to learn and develop yourself? We think what we are doing is essential without realizing that we are wasting precious time. Not to mention those who like to kill time talking about idle time, doing nothing.
On the contrary, successful and wealthy people value their time and pay for it with money, while the poor waste it on useless things because they do not know what to focus on in life and throw away gold and silver through the window. If time is gold and silver, wasting it is wasting gold and silver. The wealthy never waste time, they even manage their time strictly, this is the difference that creates the division between the rich and the poor.