Below are a quick five reasons that hold people back from developing a financial education.
1. REFUSING TO ADAPT
The rules of money changed in 1971. People are being devastated today because they simply refuse to play by the new rules. Instead of taking the time to learn, they would rather accept the challenge of lower wages and higher prices, and work harder or go back to school for more education. The problem is that working harder and more academic education worked in the old system. Building wealth in the new system requires the right kind of education – financial education – and learning how to work smarter.
2. FEAR OF THE UNKNOWN
People fear what they don’t understand, and change can be a scary thing. But when the rules to a system are no longer the same, change becomes necessary. Although many may not know it, we are all approaching a point where the new rules must be understood in order to thrive. The price to pay for attempting to play by the old rules is just too high. Still, because it’s the only thing familiar, a number will accept their fate and endure, suffering needlessly because of fear.
3. WAITING FOR SOMEONE ELSE TO BE FIRST
People feel comfortable in packs. When something is done or accepted as a group, whether right or wrong, it’s possible for an individual to feel more at ease because the chances of being ridiculed for thinking differently are reduced. It’s no different with financial education and learning to entertain money. If the group accepts that financial education and playing by the new rules are musts in today’s society, it’s easier to go along. There’s one glaring problem with this: How many times has the group come to your aid when you were in serious financial need?
Whether old rules or new, some people are just lazy. Instead of working at a job or working to learn the new rules of money, it’s easier for them to do nothing. Excuses are excuses. That’s how things are sometimes.
5. BEING DISTRACTED
We live in the Information Age, where information is abundant. The bad thing is 95% of the information is garbage. To get ahead in this new environment, having focus is critical. You have to set your mind on a vision and pursue it – despite all the setbacks that are guaranteed to come. A financial plan consists of actions that must be performed