I’ve talked before about having the belief that you can create wealth, and this week I start with the title ‘Why you can’t do this…Excuses’.
What am I thinking you say? Stay with me…
Well, the fact is that there are still people who want to tell me why they can’t achieve their goals through wealth creation.
I Don’t Have Enough to Start
I don’t have enough money to start would be by far the most common reason I hear from people for why they don’t take any action to create wealth for themselves.
Now let’s examine that a little more closely.
If you have income from any source, then you can start. That’s fair enough right?
When I am coaching someone about their personal wealth goals, the first thing we do is strip everything back to the fundamental basics of money…
First, make sure that what comes in exceeds what goes out.
If you do nothing more than that in your wealth creation plans you will guarantee that you improve your wealth over time.
It’s straight forward, but most people completely overlook the simplicity of this step…
Now I know for some people that this step is going to be hard, real hard…
…but it forces you to think about what you spend your money on and decide right there if you want to continue to struggle with money, or whether you want to achieve financial freedom.
For a number of people, financial freedom can come from knowing that they can meet the bills each week. It doesn’t have to mean millions of dollars.
So if you have some money coming in, you can do this, you can get started in wealth creation.
I Don’t Know About Investing
This is another of the most common reasons why people tell me they can’t do wealth creation…
This is one of those limiting beliefs that is based on fear.
It is a fear of the unknown or a fear of loss. And I get that, it can be daunting to do something new.
But don’t let FEAR be what stops you.
Can you remember the first time you rode a bike? Now if you are anything like me you didn’t jump on, point it down the road and off you went peddling away with ease.
If you were like me, there were many failed attempts resulting in a few bumps and scratches as I learned the process of balance to propel myself forward.
And the comforting thing is that I had someone helping me, advising me what to do, how to sit, when to peddle and what to differently next attempt.
Investing is no different…
You are not going to know everything there is to know to be successful from day one. And even if you did, you still wouldn’t be guaranteed to make money straight away or every time.
It’s not how investing works…
So to overcome this fear or this excuse, what you need to do is do some research and find people who can assist you.
Throughout my life I have spent countless hours and dollars learning from people who have done it all before me.
And that is one of the great things about investing, it isn’t anything new. Sure there are new products and ways of applying strategies, but the basic principles remain the same as they were 20 or 50 years ago.
There are plenty of people who can assist you in your dreams, you just have to be prepared to ask.
I Don’t Have Enough Time
This is my absolute favourite reason I hear for not working on wealth creation.
It’s my favourite because everyone can use it…
In this modern society where there are so many distractions, social media, pay television, on-demand movies and television and the internet, it is easy to see how people can run out of time.
I’m as guilty as most…
There are times when I have spent an hour on social media before I realise how much time has gone by and I haven’t achieved anything… other than the odd laugh at the latest funny video that is going viral.
But that doesn’t do anything for my wealth.
So again, it becomes a matter of priority.
Do you prioritise seeing a photo of what your friend’s friend had for dinner last night while they were out in the city, or YOUR wealth and financial freedom?
Now that may sound harsh or heartless, but it is reality…
We can all make the time to achieve our goals, we do it every day.
If our goal is to sleep for three hours on Saturday afternoon, we make it happen.
But if the goal is to learn about investing we get distracted…
Let me propose that spending just a few hours each week learning about investing wouldn’t be beyond you.
Read a book, take a course, look up someone that you admire that is already wealthy and read about how they did it. Heck, spend a few hours scrolling this page for all the posts that you have access to right now.
It might not seem like much, but as I have said before, wealth creation is about taking action, small steps on a consistent basis that when added together accumulate to great things.
Overcome the Excuses
There you have the top three excuses why you can’t do wealth creation as explained to me by too many people to recall.
BUT, I have attempted to provide you with the counter-argument…
I’ve mentioned that belief is the crucial first step to getting started. This week I have given you three explanations to overcome the excuses that are likely to present themselves as you start the journey.
Next, all you need is to take some action. There are no more valid excuses, we’ve crushed them right here, so get to it. There is no more time to waste.
Let me know in the comments below what action you are going to take this week. It doesn’t have to be big, just remember small actions consistently undertaken will add up to big results.