6 Attitudes That Breed Financial Failure

6 Attitudes That Breed Financial Failure

Financial success or failure is often the results of attitudes, both conscious and unconscious, that affect our behavior. No amount of budgeting and self-control can help us when we’re up against ingrained ideas about money management, spending, and debt.


If you’re having a tough time shifting your financial behavior, maybe it’s time to change your mind about money. Here are six common attitudes that work against us financially.


1. Stuff Is Just as Good as Money

Besides a few important exceptions like our home, car, and other necessities, objects are seldom as valuable as cold hard cash. When you trade your hard-earned money for objects, don’t fool yourself into thinking they retain even an approximation of their retail value for very long. Typically, by the time we file our receipts, depreciation, changing styles, or new technology has reduced our treasures to trinkets.


2. I’ll Start Saving When I Make More Money

There’s no optimal time (or salary range) to begin the good habit of saving. Setting your course early in life, regardless of how much money you make, establishes a routine and habit that can be tweaked as your financial realities and goals change. Many people tell themselves “I don’t make enough to save,” but isn’t the flip side of that “I make so little that saving is essential”?


3. Time Is on My Side

The Twenty-something’s may disagree, but time really does fly. Saving early and often will compensate for most financial mishaps. The twin powers of habit and compounding interest can make huge nest egg from even the most modest income.


4. Little Things Don’t Count

Volumes have been written about the “latte factor,” and various savings gurus argue the point ad nauseum. I’m not a proponent of total self-denial, but there’s something to be said about how our little habits and mini indulgences can, if left unchecked, add up to big expenses. Understanding how our own personal latte factor (whatever it might be) erodes our larger financial goals is important first step in becoming more savings savvy.


5. Debt Is No Big Deal

Everybody carries some sort of debt, right? Wrong. Simply put, most debt is draining, and there’s real freedom to be found in avoiding it. Besides the interest, the worry, and the depletion of readily available cash resources, debt limits our opportunities and that is a big deal.

With the exception of a home and education, seriously consider how consumer debt is foreclosing on your options. What choices would you make if you didn’t have debt? If you could do it all over again, what debt would you avoid? Do you still emotionally embrace debt even while being intellectually against it?


6. My Lifestyle Should Constantly Improve

We live in a society where the arrow on the chart is always expected to head north. We’ve even come to see consistency or stasis as some sort of warning sign.

Companies are expected to cut costs and make more money; consumer spending should increase quarter after quarter; factories are expected to expand. Even our homes should grow, as we trade that “starter home” for something larger.

What’s wrong with a bit of satisfaction in what we already have? Why can’t our lifestyles, after a certain point, remain relatively constant as we work toward our financial security? Maybe it’s time to embrace debt-free living as the ultimate new luxury item.

When we change our attitudes about money, we change our relationship with it. And when we recognize how culture is a big part of how we’re conditioned to think about our finances, we can slowly start to shift that thinking. In short, the quickest and most powerful thing we can do to reinvent our financial lives is change our minds.

About lisachristiansencompanies

A U T H O R • I N N O V A T O R • E X P E R T Dr. Lisa Christiansen is one of the most sought-after motivational speakers, life coaches, and business consultants worldwide, building an impeccable record of client satisfaction in the process. A best selling author as well, Dr. Lisa Christiansen has written such inspirational titles as My Name Is Lisa; The Two Millimeter Shift; White Sheep, Blue Skies, Green Grass; 101 Great Ways To Enhance Your Career; and others, in which she sheds light on some of the biggest questions of self-empowerment and fulfillment. Among her most recent publications, Dr. Lisa Christiansen contributed to the book 100 Ways to Enhance Your Career, which features wisdom from other well-known figures in the self-help world, including Jack Canfield, John Gray, and Richard Carlson. In 100 Ways to Enhance Your Career, Dr. Lisa Christiansen shares a step-by-step process for increasing job satisfaction, gaining more from one’s career, building wealth, and taking control of one’s destiny. Aside from her numerous books, Dr. Lisa Christiansen hosts a wide variety of seminars and retreats, where she teaches her students the secret to unlocking their inner potential and living their dreams. Some of the popular events held by Dr. Lisa Christiansen include Mastering Your Wealth, Claim Your Future, and Design Your Destiny, all of which feature her intensive coaching and unique strategies of personal transformation. Her website has a wealth of additional information on her conferences, retreats, books, and other endeavors. Join the millions of people who have already revolutionized the quality of their lives. “You already know how to survive global changes in the economy, environment and political arena, now it's time to thrive and prosper at a level beyond what you ever thought was possible,” Christiansen said. “My seminar is about seizing the power within today. Press Summary: Creator of extraordinary lives, Lisa Christiansen has served as an advisor to leaders around the world for the last two decades. A recognized authority on the psychology of leadership, organizational turnaround and peak performance, Lisa has consulted Olympic athletes, world renowned musicians, Fortune 500 CEOs, psychologists, and world-class entertainers. Lisa’s strategies for achieving lasting results and fulfillment are regarded as the platinum standard in the coaching industry. Lisa captured the attention of heads of state and the U.S. Army. Christiansen has impacted the lives of millions of people from 30 countries. Lisa has been honored by Cambridge Society of Who’s Who as one of the Top Business Intellectuals in the World. Lisa has helped millions of people create extraordinary lives globally. Her expertise and guidance has enriched the lives of icons such as pop superstar Kelly Clarkson, Olympian Dara Torres, and superstar Patrick Dempsey.

Posted on August 19, 2012, in Wealth Creation and tagged , , , , , , , , , , , , , , , , , , . Bookmark the permalink. Leave a comment.

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