Topic: Habits that can lead to your financial failure in 2024 - page 3. (Read 836 times)

Expenditures that do not meet needs.
Excessive shopping when income starts to differ from before often becomes a new habit for some people under the pretext of enjoying because life is not forever and as long as it is there you have to enjoy buying something you have never experienced before.
That's an additional point of habits that can derail finances.

This things you mentioned is the major problem of our people today, people refused to take drastic majors but wanting a cheap and easy way to make wealth this leading to doing illegal jobs while some people involved themselves to online fraudster.
Anyone who is ready to invest and make a change to their life must be patient and develop themselves to source information that would help them to financial freedom by starting investing in bitcoin and as well as limiting the ways they spend money on irrelevant things.

I know many have learned their lesson in 2023 which they will not allow what happened last year to happen in their financial progress this year 2024 than to apply some skills that will make them to avoid such things in the society.  Fear is a strong root that can cause someone financial failure, if you don't eliminate it on time from your life because it has cage so many people not to take a good step in their comfort zone. Laziness is another habit that can also hider your financial growth in the environment because once you develop the spirit of laziness in you not to look for a job that will be giving you weekly or monthly payment in the environment, it can make you not to grow like the way other people that engaged themselves in some jobs to  grow financially in the society.

Health is not always seen as wealth because people focus too much on financial matters, even though without good health people will never be productive enough to achieve real wealth. Even health will feel quite important even though people have acquired wealth because there is no point in being rich when health is quite problematic. It will definitely be much easier for someone who is physically and mentally healthy to seek wealth because when health is compromised it is difficult for people to work more productively.

Passive income must be seen to the extent to which a person can work more effectively smartly rather than working hard, because working hard and working smart have different sides. The view of people who have acquired wealth is different from that of people who are accumulating wealth because they both look for the closest and fastest source for their output rather than looking at how the input process works.

I'd like to highlight these things, I think these ones are the main keys for a better growth this year.

1. Fear of leaving your comfort zone - One must know or distinguish what his comfort zone is, not knowing it or realizing it will suffer for the rest of their life. So knowing your comfort zone is the first step, so you got a boundary of what to do and what not. Fear is a natural emotion on every first time, but our eagerness must be bigger than our fear.

2. Fear of failure - Again, fear is a natural feeling and failure means you are trying. We should learn what lesson can be pick up with all the failures. If you got down 8 times, got up 9 times.

3. Self-discipline - Most important of all, self-discipline is the very key to this, self-development requires a lot of awareness to yourself including setting your goals, setting up your process, and learning time.

All the points you mentioned that lead to financial failure really have great potential and influence, the difficulty of leaving habits that are actually meaningless is one of the things that is very difficult to do by someone who is already in the comfort zone so that financial improvement is always delayed, there is no hard work that causes no guarantee for certainty. Not a few or even very many people - people who are afraid of failure even though they have never tried it at all so that it also makes them even longer stuck in the comfort zone and procrastination.

On the other hand, to be honest, I am  an ordinary person living in the middle class, and maybe it is not uncommon for us to see some people who have succeeded in their lives, successful people can come out and put aside some of the above lists that can  hinder their success process, realizing that life is hard and everything is a race about who can get ahead or excel so they always try, not giving up easily, have a forward-thinking mindset so that bitter experiences and sweaty struggles bring them to the top point in their lives, but success is not the end of the journey because maybe you have often heard that "the higher the tree, the stronger the wind that hits" it happens but they have extraordinary experiences that can make them still be able to survive at the peak of success..

Yeah exactly, consistency is important too. Some people are afraid of taking risks that is why they were sometimes stuck in this what we called comfort zones. Though it is not bad as it is their personal choice and we respect that but yeah might also missing some opportunities from that risk as we all know risks sometimes comes with high rewards.

Health is wealth so we should invest on ourselves first most especially to our health so that we can have a sound body and mind that are crucial to reach our goals. Get rid of emotions that will only leave damage to your health, otherwise when your body quits, your whole life will collapsed. Focus on the positivity in life, even if trials and life’s struggles are testing our faith.

Passive income is still possible but you still have to put efforts on it first before it becomes passive. Which means being active while working on your goals because once you succeed, you will have a passive source of income that doesn’t require too much efforts anymore.

i really hate people who say that pampering yourself is important, they really get caught up in that sentence, many even go so far as to go into debt just to have the latest iPhone.  based on research, there are many Gen Z who are now in large debt because their expenses are greater than their income and i really agree with this research, buying luxury goods, eating expensive food or going on holiday in expensive places is fun but it will all be too far away. it's more fun if you use the money you have, not savings, your own money or loans money from other people.  if you want to be financially free in 2024 then spend as well as possible.

The procrastination is the silent killer, that is probably the most important one. The "i'll do it tomorrow" attitude has to be left in 2023 if you want to achieve your success! I also agree that doing anything that wastes time is definitely going to put you in jeapordy and I think this also falls in the procrastination category as well because most people put off important things to waste time on something completely useless to themselves.

Life is about success and failure. But you should not think of yourself as a failure without trying. To be successful, you have to adapt yourself to a very hostile environment. Life cannot be stopped by the fear of going outside the comfort zone.  Success comes only after failure. So don't be afraid of failure. If you are afraid of failure, you can't move forward in life.
Earning money is a very difficult task. There is no such thing as easy money in the world, it must always be kept in mind.  We spend so much of our precious time on so many unnecessary activities that it harms us physically, mentally and financially. If you want financial flexibility, you have to be a very disciplined person. By managing your life according to the rules, you can achieve financial success in 2024. By correcting the mistakes made in the previous years, you can succeed better.

If we want to maintain our finances well enough, there are several important things that must be done and one of them is being able to maintain time while working and apart from that, being able to refrain from spending excessively on things that are not needed. Actually, getting rid of bad habits is not difficult as long as we have a strong intention in our own hearts to do so, even though it cannot be completely eliminated all at once. Because the process must be gradual and consistent over time.

I think that is another plus point that can be considered by every individual who wants to change for the better. But basically you have to be able to no longer do bad things that can harm yourself as explained by the OP here. Because it's not an important thing to do, but it's very important to avoid it so that we can be confident enough to try new things.

Well, because we are humans, and we do have the right to make mistakes, the whole entire history of humanity is filled with people who made mistakes so that we would learn from it. You think we just know fire burns? Someone burned from fire for us to learn that, it may sound silly, but that's how it is.

No invention in the world was tested once and worked, you failed, you made mistakes, maybe over a dozen people found a way of it not working, until someone who gathered all that information and found one that worked. So all in all, we are all destined to make mistakes, and that is why it's fine that if someone makes mistakes OP mentioned, it is not the end of the day.

What we need to figure out is how we could make mistakes, and still move on because that is the real golden goose if we want to get richer in the future. You may make mistakes, you are allowed to do that, but in the end, if you can recover from those mistakes and end up doing something better, that would be even better for you.

You think Elon Musk never made a mistake (hell twitter is his biggest mistake)? You think Jeff Bezos never did? Warren Buffet never did? Everyone makes mistakes, it is important how you bounce back from your mistakes and end up taking the bull by the horn and fix it. I hope that means something to someone who is feeling down about the mistake they made, it is normal, don't feel down, pick yourself up, and try to do better next time, that's all we can strive for.

Everyone wants an easy way to make money. Many people don't want to work hard and smart to make money. Apart from that, many people also want to stay in their comfort zone because making money requires trying in many ways. That is why only a few people succeed in making money in many ways.

People who really intend to make money realize the importance of working hard and smart. Only then will they be able to see the results, even though it takes time. Leaving old habits and changing them with new habits is also necessary so that they can develop their talents.

And in working hard and smart, many people are unwilling and unable to live every day. They feel like it's a waste of their time when it's not. If they are on the right track, they have to keep going because the results may appear soon.

This might be an unpopular opinion but the jargon to 'left our comfort zone' is a very missleading jargon by many motivator, I know many people that 'left their comfort zone' in the meaning of leaving their regular job to chase their passion, or to become entrepreneur or some other stuff. Most of the failed and regretting their decision to leave their comfort zone.

I think what could be better phrase is 'expanding our comfort zone' if we are comfortable become an office employee we shouldn't leave those job, but maybe we can start small business or trade crypto in our sparetime, if we could succeed doing both we can have two 'comfort zones' and if we failed we will still have our previous comfort zone.

Looking for easy way to make money can be one of the ways to waste your time because there’s no easy way to success. For every wealthy person you see, someone somewhere put in the work to make it happen. Many people think they can make it by things like gambling for instance, I really hope they understand that even people who are really good are gambling have lost a lot of money and still lose a lot of money. Generally luck happens, but don’t look for luck. If it’ll come to you it’ll come, just grind in your best way and it’ll pay off someday.

Time management is very important factors that  can't be taking for granted if one wants ti be successful,  when we value our time the result that we will derive will be of good value.  In the business and our career we find ourselves,  it is impossible to succeed if their is no good management of time. When people don't take time serious in what they do you notice that it becomes difficult to gain success.  Time management should be what must be observed to gain greatness.

Many people know this, but it must be admitted that avoiding this is very difficult, even though we know that if we continue to do it, we will encounter many failures.
Habits that we often do are bad but difficult to get rid of. I realized that if we want to maintain our finances well in the future, we need to be consistent with what we do for that goal.

Of course, not everyone dares to try new things because it is full of risk, even though the risk is worth it for what we will get, actually it is good but it again depends on a person's strength and self-confidence to be able to do that.

All what you mentioned can lead to financial failure and not just financial failure, it can hinder ones growth and the person might never be successful if he refuse to change.
Procrastinating is one of the factor that can hinder financial growth cause when it comes to money and the person is not willing to work or get involved but rather the person keeps procrastinating without any effort to show, it's like the person might end up losing out.
Wasting precious time on things not necessary is very common and most people fall in this category, sometimes they actually know the right thing to do but instead they keep doing the low value stuff with zero profit, I think the fear of leaving their comfort zone can cause all this. You've mentioned the factors and no one is perfect and it's best to learn and pick our different mistakes to make amend

From the points mentioned by the OP, I see that they are points that occur quite often in life and are also very often found by many people in some individuals around them. And I think all of these points are complete enough to make someone fail because some of these things do not have an element of struggle in them so they are always far from being successful if there are still these things within each person. Apart from that, I can only add one more point that can make someone unable to be successful is not wanting to try something after he knows how to do it.