11 Bad Habits That Keep You From Reaching Your Financial Goals
Be Wealthy & Smart
Linda P. Jones
4.8 • 883 Ratings
🗓️ 12 December 2018
⏱️ 18 minutes
🧾️ Download transcript
Summary
Learn the money habits that hold you back from financial independence and freedom.
These are 11 mistakes people make with their finances that can be devastating to wealth building.
1. Not saving enough
2. Not participating in a 401k or IRA
3. Not spending less than you earn
4. Not paying off credit card balances/debt
5. Buying brand new cars
6. Moving homes frequently
7. Paying full price for consumer goods
8. Buying adult toy vehicles
9. Collecting designer clothes/shoes/handbags/sports equipment
10. Not paying off student loans
11. Not looking for additional streams of income
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Be Wealthy & Smart,™ is a personal finance show with self-made millionaire Linda P. Jones, America's Wealth Mentor.™ Learn how to build wealth, make money, and have financial freedom. Introduction to principles of wealth building you won't hear about from your financial advisor. Learn how to get rich, the 6 Steps to Wealth, the Twin Pillars of Wealth Building™: Invest Like Billionaires™ and Create Your Luxury Brand™ Business.
Transcript
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| 0:00.0 | Be wealthy and smart, episode 495. |
| 0:02.8 | I'm gonna live on Rich Life. |
| 0:06.8 | Rich Life. |
| 0:07.8 | Cool, that's life. |
| 0:10.0 | If y'all know what I mean, put your hands up and declare with me |
| 0:13.5 | Yeah, I'm full of faith |
| 0:16.0 | e-e-e-e-e-e-e-e-e-e-e-e-e-e I'm gonna live a good life |
| 0:20.8 | A beautiful and glorious life Step into a world of wealth and wealth and financial freedom without budgets, boredom or bosses on |
| 0:31.0 | be wealthy and smart. And now here's your host, Linda P. Jones. |
| 0:37.0 | Welcome to Be Wealthy and Smart. I'm Linda P. Jones, America's wealth mentor. |
| 0:41.0 | Empowering women and men worldwide to financial freedom. |
| 0:44.0 | On today's show, we're going to talk about 11 bad habits that keep you from reaching |
| 0:49.2 | your financial goals. And I thought this would be a good time of the year as we come into year end to talk about these things because very often I'm talking about the positive things you can do or the actions you can take, but we're going to talk about the things that you also don't want to do, the things that might be keeping you from achieving your goals. |
| 1:09.6 | So the first bad habit that's keeping you from achieving your financial goals is not saving |
| 1:16.2 | enough. Now I know it's not always easy to save and the best tried and true method that I know of saving money is to pay yourself first. |
| 1:26.4 | That means that whatever income you have, whatever paycheck you have, you take money from |
| 1:31.6 | that and automatically put it into a savings account and |
| 1:35.2 | therefore voila you've saved that amount of money so whether that's 15% or |
| 1:41.1 | 20% or 5%, whatever that amount is, have it automatically deducted out of your income |
| 1:48.4 | and chances are you won't even miss it. |
| 1:50.9 | Now in my book, you're already a wealth heiress I talked about having 20% |
| 1:55.2 | being a savings goal and the reason for that is step number two to wealth is |
... |
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