The 10 Reasons You Aren’t Rich and 10 Ways to Change That

As a financial journalist for more than 20 years, I can tell you first hand that people who create wealth have a different mind-set about money than people who don’t. It may seem that it’s easy to be positive about money when you have it, but that’s actually putting the cart before the horse — the attitude and mind-set have to be there first;  the money follows.

[Related: 3 Ways to Invest $100]

When you consider that African Americans are only a few generations from slavery and don’t have much history when it comes to generational wealth and information, and the systemic and socioeconomic factors such as predatory lending, discrimination, etc., it’s easy to see how a ‘struggle’ mentality about money has set in for many.  A change in attitude, however, is exactly where many of us must begin in order to create financial lives that reflect our true value and who we truly are.

Steve Siebold is one of the world’s foremost experts in the field of critical thinking and mental toughness training. He is the author of eight books, two of which are international bestsellers and have been called the gold standard in the field of psychological performance training. His book How Rich People Think is based on more than 1,200 interviews with some of the world’s wealthiest people over the past 30 years.

He says these 10 things could be keeping you from acquiring more money:

1. You have middle-class beliefs about money.
In other words, you could have all the potential in the world, but if you’re not seeing money for all the positive things like the freedom and opportunities it brings, and you focus on lack and limitation, you’re always going to be stuck in the middle class.

2. You hang around people who have no money.
Money certainly doesn’t define the type of person you are. Some of the nicest people with the biggest hearts have no money at all. But if your goal is to acquire more money, you have to get around people who have money and learn from them. Consciousness is contagious. It’s the same thing if you wanted to lose weight. You’d join a gym and start hanging around fit people.

3. You’re too comfortable.
Most millionaires will tell you that, especially in the beginning of the wealth-building process, you have to learn to operate in a state of regular uncertainty. The need for comfort, or knowing that you’re not taking a risk, will always hold you back. If you take the plunge you have to stay strong and keep your eye on the prize. The payoff is well worth the effort.

4. You’re terrified of failure.
If you want to succeed, you have to fail first. It’s how we learn and grow. Check your ego at the door and stop worrying about failure. Start to see yourself as a comeback artist and learn from every missed opportunity. Failure is necessary for building massive success.

5. You believe its noble to be poor.
There’s nothing wrong with wanting more.  Yes, you should be grateful for what you have, but it’s not being greedy to strive for more. Ambition is a natural trait among human beings and is the driving force behind every great innovation. Ambition is not a sin; it’s a virtue. Never feel guilty about wanting more money.

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