phrases of rich people
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Many people think that their current financial situation completely depends on how much they earn and how they spend. Are you one of them? Have you ever thought that it can be something bigger? For example, your attitude and a set of money beliefs? Your way of thinking plays an important role in how you manage your finance. Wrong beliefs and sayings can be keeping you in an unpleasant financial situation so it’s time to figure out which sayings and thoughts you should avoid if you want to be rich.

Bonus: Also, get aware of thoughts potential millionaire should never have!

“I’ll Never Be Able to Do That”

Most likely, you have heard many inspiring success stories like someone saved $1,000 000 for retirement or repaid a massive debt. What do think when you hear such stories? Never let yourself think like “I can never do that”. When you think like this, you’re already giving up so you don’t even let yourself a chance to change the situation. To change such a way of thinking, start from telling yourself positive things. Tell yourself you can do that. Believe in yourself. If the goal seems too big for you, use the strategy of dividing it on smaller ones and achieve it step by step.

“I Can Always Borrow if I Have an Emergency”

Not having an emergency fund is one of the worst financial mistakes people make. An emergency fund is your protection in case of a job loss, car accident, health problems and etc. Yes, you can always apply to Personal Money Service or put unexpected expenses on a credit card, but for your financial health it will be much better if you’ll use your own savings and will not get in debt. Many people complain that their income is too small so they can’t afford to put some money away. Remember, there’s always a solution. You can start small and put away $50 each month. Little amounts turn to big ones over time!

Bonus: Check out 6 ways to put more money to your emergency fund!

“Investing? It’s Too Risky!”

what to invest in
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Take a look at people like Warren Buffett (one of the world’s best financial expert and successful investor). Would they be where they are now if they were afraid of taking risks?

Yes, the world of investing can be scary for the beginners but you are not forced to take big risks. Start from educating yourself, read and learn as much as possible.

Find suitable options where you don’t have to invest big amounts of money. Keep in mind that investing is a great way to make money work for you!

“I deserve it”

In addition to the most popular excuses for overspending there’s another popular phrase: “I deserve it”. You may be working hard, living from paycheck to paycheck, trying to make ends meet and there comes a moment, when you go to the store/ restaurant and leave an impressive amount of money there. As an excuse, you just tell yourself that you deserve it because you work hard and you get tired.

We all want and need rewards, but before rewarding yourself ask if you can afford it. Such rewards shouldn’t make you broke so if you can’t afford it right now, save some money and reward yourself later.

“You Only Live Once”

YOLO is a very popular concept, especially for the younger generation. However, taking it as a life motto can be preventing you from your financial goals. Yes, we live only once and we deserve living full and bright life but should such life make us broke?

Remember that there are always 2 sides: today you may be happy spending the money and tomorrow you can be said because you don’t know how to make ends meet.

Everything needs a balance. Try to follow Dave Ramsey’s envelope system and create a YOLO envelope for your spontaneous spending. But always remember about the necessity of saving money for emergencies and retirement and take care of your future.