10 bad habits that keep you from getting rich
Last Updated : GMT 05:17:37
Emiratesvoice, emirates voice
Emiratesvoice, emirates voice
Last Updated : GMT 05:17:37
Emiratesvoice, emirates voice

10 bad habits that keep you from getting rich

Emiratesvoice, emirates voice

Emiratesvoice, emirates voice 10 bad habits that keep you from getting rich

Habits to get rich
Tehran - FNA

Successful, wealthy people do not just suddenly become rich and successful.

Success is a process that takes place over many years.

Long before most wealthy people become wealthy, they make a habit of living below their means.

The following is a list of ten spending habits I've uncovered during my five-year study of the rich and the poor that will prevent you from ever achieving financial independence:

1. Charging ordinary living expenses on a credit card. If you are unable to afford meeting your ordinary living expenses and must resort to the use of a credit card to meet your monthly living expenses, you are, by definition, living above your means. Accumulating credit card debt is the third leading cause of bankruptcy, behind a job loss and medical costs.

2. Spending more than 25% of your net income on housing costs. Housing costs include rent, mortgage, real estate taxes, utilities, insurance, repairs, and maintenance.

3. Spending more than 15% of your net income on food. This includes groceries and does not include prepared food. Prepared food is part of your entertainment budget.

4. Spending more than 10% of your net income on entertainment/gifts. This category includes bars, restaurants, movies, music, books, gifts, etc. Eating out and any prepared food you purchase is part of your entertainment budget.

5. Spending more than 5% of your net income on car expenses. Car expenses include a lease, loan, insurance, gas, tolls, registration fees, repairs, and maintenance.

6. Spending more than 5% of your net income on vacations.

7. Spending any money on gambling.

8. Going over the top on gift-giving. Gifts are part of your entertainment/gift budget. Sticking to your 10% budget will prevent you from going overboard on gift giving.

9. Spending more than 5% of your net income on clothing. More than a few of the wealthy in my study had the Rich Habit of buying the bulk of their clothes at goodwill stores. Many Goodwill stores sell high quality clothing at a deep discount. It may require spending a few more dollars on a tailor, but it's well worth the additional cost.

10. Impulse spending. Spontaneous spending is never a good idea. You need to take the emotion out of your spending habits. There is always time to plan and shop before your spend your hard-earned money.

Maintaining a spending budget for various categories and getting into the habit of writing down everything you spend will keep you on the right track. It will also open your eyes for the first time. You will be shocked to find out how much you spend on certain budget categories — and that's a good thing.

Getting control of your spending is not an easy task. Once it becomes a daily habit, however, it gets much easier.

    

GMT 10:41 2018 Tuesday ,23 January

80 pc school janitors found working without work visa

GMT 21:59 2018 Sunday ,14 January

King calls for Margaret Court Arena to be renamed

GMT 20:29 2017 Saturday ,13 May

Newborn girl abandoned

GMT 21:57 2017 Thursday ,11 May

Tunisian veiled women

GMT 22:50 2017 Monday ,08 May

Spinsterhood between

GMT 07:47 2017 Sunday ,12 March

45% of Moroccan Men Want

GMT 15:51 2017 Friday ,10 March

“March 8 Is Becoming
Emiratesvoice, emirates voice
Emiratesvoice, emirates voice

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

10 bad habits that keep you from getting rich 10 bad habits that keep you from getting rich

 



Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

10 bad habits that keep you from getting rich 10 bad habits that keep you from getting rich

 



GMT 07:24 2017 Thursday ,09 February

Drugmaker Teva says Israel probing kickback allegations

GMT 18:19 2012 Friday ,18 May

Hot weather to continue during weekend in UAE

GMT 03:34 2012 Saturday ,08 September

Mitsubishi motors’ outlander phev

GMT 15:20 2017 Saturday ,09 September

'Monster' Irma roars towards Florida

GMT 19:27 2015 Thursday ,01 October

Double Dutch barred in Amsterdam brothels

GMT 09:12 2018 Tuesday ,23 January

Joy and hope in Liberia as George Weah sworn in

GMT 16:07 2016 Wednesday ,10 August

Rousseff impeachment in focus

GMT 12:49 2018 Thursday ,11 January

Macron urges European unity

GMT 15:16 2016 Wednesday ,08 June

EU Presents new aid to stop African Migrants influx

GMT 10:51 2017 Wednesday ,24 May

ADEC suspends registration of new students

GMT 19:19 2016 Thursday ,22 December

Lebanon the ‘post-Aleppo’ government

GMT 06:47 2018 Thursday ,04 January

Norway suspends arms exports to UAE over Yemen war

GMT 06:38 2017 Tuesday ,21 November

Putin and Assad met in Sochi

GMT 05:27 2017 Monday ,14 August

TRA to host 75th RIPE meeting in October
 
 Emirates Voice Facebook,emirates voice facebook  Emirates Voice Twitter,emirates voice twitter Emirates Voice Rss,emirates voice rss  Emirates Voice Youtube,emirates voice youtube  Emirates Voice Youtube,emirates voice youtube

Maintained and developed by Arabs Today Group SAL.
All rights reserved to Arab Today Media Group 2021 ©

Maintained and developed by Arabs Today Group SAL.
All rights reserved to Arab Today Media Group 2021 ©

emiratesvoieen emiratesvoiceen emiratesvoiceen emiratesvoiceen
emiratesvoice emiratesvoice emiratesvoice
emiratesvoice
بناية النخيل - رأس النبع _ خلف السفارة الفرنسية _بيروت - لبنان
emiratesvoice, Emiratesvoice, Emiratesvoice