Why people don't save?
It doesn't take much brain to understand, that those who don't save will always have financial problems. They will always live beneath their possibilities. They feel ashamed in front of people who are doing better. They do not live up to their responsibility for themself and for their family. They are financial losers. As I said, all of this is easy to understand. So, why don't even very intelligent people save?
It all starts with our attitude towards money and saving. The four main reasons why people do not save are:
- They love material things more than money.
- They believe they need a higher income to be able to save at all.
- They mistake thrift for stinginess.
- They think saving is just an investment in the future. For the present moment, it means only renunciation and restriction for them.
If you see yourself in one of these four points, please read pages 154 to 158 in the book “Smal pension – so what…?” As I already explained in session 15: The coaching units about saving, only have to be read by those, who do not yet save at least 20 percent. In fact, if that applies to you, you will find that you will have one or more of the four beliefs outlined above.
When it comes to profound beliefs, I can only hope, that you will change your beliefs quickly. I described in detail how to do this in Chapter 5 of the book The Road to Financial Freedom - Earn Your First Million in Seven Years. Otherwise, the only way I can gradually pull you over to the side of the savers is through this coaching program.
But let me be clear: If you don't save 20 percent, you really have a serious belief problem about money. You are then really off track. Your thoughts are pointing you not in the direction of financial freedom, but in the opposite direction. To avoid any misunderstanding here, the opposite direction of financial freedom is poverty.
Your thoughts keep you poor. Or to put it softer, your thoughts don't allow you to live the life you deserve. You'll be like Bodo Schäfer when he was 26. Okay, hopefully not that bad. At the time, he really thought he needed to earn more to save. Saving is difficult and means limitations. Basically, he didn't think too much about saving. Especially since he didn't think saving would do much because of low-interest rates and inflation. However, he didn't have a really intelligent solution ready, how else he could get rich, except for an ever-increasing income. How ridiculous that was. How could an income create something that one can not create oneself? Who thinks like that is a financial illiterate. If he hadn't started saving, he'd still be poor today. But due to his changed mindset and savings, he was financially free by the age of 30.
Please accept this point how important that is: As a human being you will always remain below your potential, as long as you do not save: At least 20 percent. Conversely, when you save, money becomes a supportive force. Your personality will change. You will achieve financial freedom faster than you think possible today. Even if you are in debt...
Abundance is your birthright.
- Please watch the videos about the book The Road to Financial Freedom - Earn Your First Million in Seven Years.
- Write down 5 successes.
- Continue reading “The Laws of Winners”:
- “Smal pension – so what…?”, read pages 154 to 158.
- Read Chapter 8 of the book The Road to Financial Freedom - Earn Your First Million in Seven Years. Realize that you should pay yourself first because you are worth it. So that you have a wealthy future to live in. And because anything else would be ridiculous, pathetic, and miserable. Do my words annoy you? I hope so. Don't worry: At the latest, when you are financially free, we will become good friends again.