How you manage money can either trap you in a never-ending cycle or free you to live the life you’ve always dreamed of.
After helping hundreds of people build wealth, here are the 3 common traps we unconsciously fall into that keeps us from creating the life we truly envision:
1. Lifestyle Creep Is the Reason Most of Us Don’t Retire Before 65
You start earning more, and suddenly, your spending increases to match it. A bigger house, a nicer car, more expensive vacations—it all adds up. Before you know it, your expenses are eating up your income, leaving little room to save or invest.
You don’t need to upgrade your lifestyle just because you can. If you can keep your spending in check, even as your income grows, you’ll have more money to put toward investments, savings, and ultimately, financial freedom.
It’s not about depriving yourself; it’s about making conscious choices that align with your long-term goals.
2. Lack of Confidence to Invest
Let’s be real—no one wakes up one day with a sudden burst of confidence to start investing. confidence comes from doing – It’s a learned behavior by taking ACTION. Even if it’s a small action like investing $100 per month – it’s dipping your feet in the cold water of the ocean.
The habit to drop here is procrastination. Don’t let fear keep you on the sidelines. Start small if you need to, but start. Over time, those small investments will grow, and so will your confidence. Taking action is the only way to overcome the fear that holds you back.
You can also take action by finding a professional to help you (such as myself! hint..hint…). Working with someone you can trust will help you take action – it’s like wanting your dad to hold your bike until you learn to ride on your own.
3. Living on Default
We all know what it feels like to live on autopilot—going through the motions without any real direction. It’s easy to fall into this trap in life, let alone in finances! ,= But living without clear financial goals is like being stuck in purgatory—you’re neither here nor there, just existing without really living. It’s harder than actually WORKING towards your goals!
The habit to let go of here is complacency. Take the time to define what you really want out of life. Set clear, actionable goals, and then work toward them every day.
When you live with intention, every decision you make, including how you manage your money, brings you closer to the life you’ve always dreamed of.
A trick I used in my own life is to have an accountability partner or group that would keep me in check. This could be a friend, coach, or financial advisor that will keep it real with you and let you know when you’re being lazy or celebrate your wins with you.
Final Thoughts
Money is a tool to create the life you envision. Yes, that life you’ve seen in your imagination IS POSSIBLE. You saw it for a reason. Maybe that’s God’s way of giving you HIS vision for you. I’m a believer that if you see it in your mind, it’s possible on this earth. So what are you waiting for? Let’s gooooo!!!!!
If you or someone you’re close to is a high-achieving professional who could use help establishing a solid financial plan and upgrading their money mindset, reach out to us HERE.
*Disclaimer: The content is for informational purposes only, you should not construe any such information or other material as legal, tax, investment, financial, or other advice. All content on this site is information of a general nature and does not address the circumstances of any particular individual or entity.