How many times have you heard people say, I am just not good at making money? or It is impossible to make any money in my field? It can be hard to understand why it is so difficult to make money when you know that there are certain industries out there that are making plenty of profits and seem to doing just fine.
This article will teach you 6 reasons why it can be hard to make money and how you can overcome each of these roadblocks to success.
Why Is It So Hard To Make Money
It’s been said that there is money to be made everywhere, yet if you are like the vast majority of people, you are still looking for ways to make more and save more. So why is it so hard to make money? Let us Know.
Being so focused on instant gratification
In this day and age, we are all tempted by instant gratification. If you want to make money, it’s going to take some time and patience. But if you are not willing to work hard for what you want, then it might be time to rethink your goals.
There will always be someone who wants the same thing as you. The trick is to find ways to earn more without working more hours.
Ways like negotiating a higher salary or finding freelance jobs on the side that can supplement your income with additional dollars while you keep that full-time job with benefits and steady paychecks.
Investing in things we won’t use
One of the biggest problems people run into when trying to make money is investing in things they won’t use.
Whether it is a big purchase, like an expensive car, or something smaller like new clothes, these items often end up sitting around for years.
This means you have spent your money on something that doesn’t have any value and isn’t earning any money for you.
And as we have already discussed, you’re going to need all the money you can get if you want to start saving.
If you spend $10 every week on unnecessary purchases, then over the course of a year, those purchases will cost $520.
Imagine how much progress someone could make with that money. That is just one way in which poor spending habits can prevent us from making money.
Buying cheap items over quality items
A lot of people think that buying cheaper items is the best way to save money. This is not true, because if you buy low quality items, they will break faster and more often than high quality items.
You will end up spending more money in the long-run when you buy cheap things that break constantly.
For example, let’s say you buy a $5 wallet and it lasts for three months before breaking. If you bought $30 wallet, it would last for ten years before breaking.
Plus, even if your wallet did break, you can just go back to the store and exchange it for a new one.
Another thing is that many stores offer warranties on their products so if something breaks within a year of purchase, then you can take them back without any problem or charge.
Waiting for deals instead of purchasing when we have the money
Sometimes we wait for deals or discounts that never come. When we have the money to buy something, it feels like a waste to spend it on full price when something better could be just around the corner.
The problem is that if you wait too long, you might miss out on a great opportunity and end up with nothing in your hands at all.
On top of that, if you are spending more than what you can afford (buying things on credit), this strategy will only put you deeper into debt. There is no perfect time to purchase an item. In fact, the right time is right now.
Not starting now
The best time to start a business is yesterday, but the second-best time to start is now. If you are not starting a business today, then you are losing money.
The sooner you get started, the sooner your business will be up and running and making money for you.
You never know what can happen in life. If you lose your job tomorrow or if there is an emergency that requires large amounts of money, then your business will be there to help keep things stable for both yourself and your family.
Complaining that something isn’t working instead of finding out how to fix it
Complaining about things not working is easy. What is hard is taking the time to figure out what really isn’t working, why it isn’t working, and how to make it work.
Once you have taken that step, start brainstorming solutions and figure out which one will have the best chance of success.
If you can’t decide on one solution, choose two or three ideas and try them each out. You can also use a thought experiment where you pretend that your idea didn’t work as a way of figuring out if there was anything else you could do differently to make it more successful.
Finally, remember: Success doesn’t happen overnight; even after years of trying your idea might still fail because the market wasn’t ready for it or there was some other factor at play.
Also Check: How Much Is Peter Sage Net Worth
Final Words
One of the most common complaints people have is how hard it is to make money. The truth is, there are a lot of factors that go into being successful and making money.
Some of the most common ones are not having an idea, not putting in the work, or not having enough passion for what you’re doing. If you have been struggling with these, don’t worry, it’s possible to change your future.