Search and You Shall Find in My World

05 January 2011

My woes for the year 2011

Blame it on bad weather, I ushered the new year with depression and regrets. Maybe because I am too old for resolutions. Maybe because I am totally impoverish when the year 2011 came in. 

Indulge me, I should blame my current woes on the weather because it would not blame me back.
  • I turned down several job offers because of principles. My own principles. Despite being idealistic, politics is still a bad choice.
  • I have been so lazy I could not- no, the right word there is refused- to look for clients. I stood in a corner watching others go by.
  • I am so mediocre, a second-rate copycat!
  • I am irresponsible as always so that until now I still have pending and unsettled accounts. My lenders would not even looked at me in the eyes.
  • I still am wallowing in my foolish pride.
I could go on forever but I shall spare you with my troubles because the list is quite long. I wanna be a millionaire so fucking bad! But these could be one of the reasons why I would not be:

10 Reasons You Aren't Rich by Jeffrey Strain (I copied all from the site because the author's thoughts are invaluable to be missed)

10. You Care What Your Neighbors Think
If you're competing against them and their material possessions, you're wasting your hard-earned money on toys to impress them instead of building your wealth.

9. You Aren't Patient

Until the era of credit cards, it was difficult to spend more than you had. That is not the case today. If you have credit card debt because you couldn't wait until you had enough money to purchase something in cash, you are making others wealthy while keeping yourself in debt.

8. You Have Bad Habits

Whether it's smoking, drinking, gambling or some other bad habit, the habit is using up a lot of money that could go toward building wealth. Most people don't realize that the cost of their bad habits extends far beyond the immediate cost. Take smoking, for example: It costs a lot more than the pack of cigarettes purchased. It also negatively affects your wealth in the form of higher insurance rates and decreased value of your home.

7. You Have No Goals

It's difficult to build wealth if you haven't taken the time to know what you want. If you haven't set wealth goals, you aren't likely to attain them. You need to do more than state, "I want to be a millionaire." You need to take the time to set saving and investing goals on a yearly basis and come up with a plan for how to achieve those goals.

6. You Haven't Prepared

Bad things happen to the best of people from time to time, and if you haven't prepared for such a thing to happen to you through insurance, any wealth that you might have built can be gone in an instant.

5. You Try to Make a Quick Buck
For the vast majority of us, wealth doesn't come instantly. You may believe that people winning the lottery are a dime a dozen, but the truth is you're far more likely to get struck by lightning than win the lottery. This desire to get rich quickly likely extends into the way you invest, with similar results.

4. You Rely on Others to Take Care of Your Money

You believe that others have more knowledge about money matters, and you rely exclusively on their judgment when deciding where you should invest your money. Unfortunately, most people want to make money themselves, and this is their primary objective when they tell you how to invest your money. Listen to other people's advice to get new ideas, but in the end you should know enough to make your own investing decisions.

3. You Invest in Things You Don't Understand

You hear that Bob has made a lot of money doing it, and you want to get in on the gravy train. If Bob really did make money, he did so because he understood how the investment worked. Throwing in your money because someone else has made money without fully understanding how the investment works will keep you from being wealthy.

2. You're Financially Afraid

You are so scared of risk that you keep all your money in a savings account that is actually losing money when inflation is put into the equation, yet you refuse to move it to a place where higher rates of return are possible because you're afraid that you will lose money.

1. You Ignore Your Finances

You take the attitude that if you make enough, the finances will take care of themselves. If you currently have debt, it will somehow resolve itself in the future. Unfortunately, it takes planning to become wealthy. It doesn't magically happen to the vast majority of people.

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