8 reasons why you don’t have money
There is no need to tell – how difficult it is to survive for the rest of the month, when you have to live with little money. And this is a very common situation. Many people live survive this way and keep wondering why the money they earn is not enough for expenses, to save or invest.
If you have money problem, it’s because you have problem with money management, not just because you don’t have enough monetary income.
Reasons why you have little money
1. You live with your parents
Many people live relatively close to their parents and depend on them to solve their financial problems. If you want to make money, you must cut the “umbilical cord”. That is, stop feeling like mom and dad are going to rescue you whenever you “screw up” the money. You’re not saving by living with them, you’re missing opportunities.
2. You have financial illiteracy
Most people don’t have financial knowledge. Many people go to college and don’t know the most basic financial terms. Economics is defined as the management of a household’s resources. Managing means knowing how to manage everything you need to survive, especially in adverse circumstances. Generating your own money means playing offensive in the marketplace.
Check out reasons for financial trouble
3. You have the budget-blocking mentality
Spending all your time trying to include every penny you have in a budget is a sure-fire way of not having money. Saving for the sake of saving is useless if you don’t have an investment strategy. Not putting your money to work means you’re playing defensively instead of taking the lead.
4. You believe in miracles e.g. Santa Claus
The idea that a Santa Claus will come to rescue you from financial trouble is tried every year. You can’t wait for someone to rescue you from your financial situation, if you don’t start doing something for yourself.
5. You suffer from financial apathy
People have become apathetic about their finances. They don’t like to see their financial statements. But the fact is, you can’t have money if you don’t pay attention to it. Admitting where you stand financially is the first step to getting ahead. Ignoring that you have a problem won’t make it go away, it just makes it worse. Ideally you should check the status of your bank account every week.
6. You feel like you’re superior
Many people do not work because they refuse to do the work they consider unworthy. Not only this means, the individual who expects to be paid as a manager when he or she has never worked, this phenomenon also occurs at the executive level. Everyone wants to be the CEO, the manager, but no one wants to start by being the salesperson.
7. You compare yourself to others
If you think your financial situation doesn’t require special attention because you’re not starving, you’re wrong. There is no greater financial suicide than justifying the situation out of your pocket by saying you’re not that bad. True, maybe you could be much worse, but not daring to think ahead will prevent you from growing.
8. You complain all the time
Every day you will see people who complain because they have to work from eight in the morning to five in the afternoon. The reality is that an entrepreneur is ALWAYS working and a person with real financial security is always willing to work harder.
If your financial situation sucks, you have to admit it. The first step to recovery is admit that you have a problem, while the second point is to stop blaming others or relying on others to solve your financial problems. Confront who you are and pay attention to your savings, accounts, and financial statements. Dare to work as hard as you can and get your financial life in order.
Money is not the most important thing in the world. It certainly won’t make you happy. But neither of these two truths justifies not having money to take care of your family and build good financial life.
Hi, I am Nikesh Mehta owner and writer of this site.
I’m an analytics professional and also love writing on finance and related industry. I’ve done online course in Financial Markets and Investment Strategy from Indian School of Business.