Advertising
Advertising

7 Common Mistakes On The Journey To Being Wealthy

7 Common Mistakes On The Journey To Being Wealthy

Wealth has often been used synonymously with being rich. However, the two are not the same. Being rich is only a small element of your overall wealth. When we talk of wealth in this context, we are speaking about the passions, freedoms, experiences, relationships, desires and actions that money can’t buy.

There are so many people in our society today who die in the pursuit of riches, never realizing that they were some of the wealthiest men on the planet. It is obvious that money should be saved, invested and not wasted. However, there is also a certain degree of self-awareness that must be reached to attain wealth.Below are seven mistakes many individuals make in their pursuit of wealth.

1. They spend time on things that don’t align with their true wealth.

According to author Bronnie Ware, one of the top five regrets of the dying is, “I wish I’d had the courage to live a life true to myself, not the life others expected of me.” It’s easy to get caught up in what society defines as wealth: successful businesses, money, power, prestige etc.

In reality, wealth is whatever you value most. That could be family, travel, solitude, adventure etc. However, you have to be self-aware enough to understand what your true wealth is and prioritize that over the labels and definitions of popular culture. No two people will have exactly the same wealth, because not everyone wants the same things out of life. The wealthy will not spend so much time, money and resources on something that is not an absolute passion.

Advertising

To redirect your life and focus, take a few minutes to actually write down your wealth like you would a budget. Make sure you are writing down thing you love to do (ACTIONS) and not material things like boats, planes, fancy cars etc. that most people put on their vision boards.

2. They have too many goals.

One major money mistake people make on the road to wealth is having too many goals. In other words, having too many things you want to accomplish is actually a distraction. Mike flint, is a pilot who has flown four United States presidents. He was also the personal pilot of Warren Buffet for ten years.

He asked Buffet for tips on prioritizing his career and building wealth. Buffet told Flint to write down his top 25 goals and then circle his top 5. As flint confirmed that he would start working on his top-five list right away, Buffet inquired about the second list. “It’s not as urgent, so I ll get to it later” He said. To which Buffet replied, “No Mike, you have got it all wrong. Everything you didn’t circle just became your avoid it at all cost list.”

Take a few more minutes and clean up the distractions that you have created for yourself by setting to many goals. Write down your top 25 life goals and circle your top 5. The remaining twenty just became your distraction list. They should be set aside without attention until your top 5 have been accomplished. If not, your lack of focus will cost you in the long term.

Advertising

3. They don’t know how to live “Sophrosyne”

To live Sophrosyne is to have a healthy state of mind, characterized by self-control, moderation, knowledge and balance with a deep awareness of one’s true self, resulting in true happiness. Sophrosyne is simply living simply, knowing the difference between wants and need. It can also be reflected in the two most famous saying by the philosopher Plato; “Know thy self” and “Nothing in excess.”

Spending too much on wants is a money mistake seen in the poor and middle class. Most people chase wealth as an excuse to live in excess. They display their insecurities in lavish homes and cars. These things aren’t wrong, but they shouldn’t be the driving force. Sophrosyne should not be confused with self-denial. Make a goal to set aside some money for a splurge in moderation.

4. They don’t pay themselves first

When trying to create monetary wealth, the obvious first step is to create a budget. However, most people don’t truly understand how to write and follow a budget that will create wealth. Most people create a budget either by calculating how much they need to pay for all their needs, wants and bills and still make it to next month, or, they figure out how much money they have to spend that month and budget to spend it all on their bills, needs and wants.

This budget ensures survival, not wealth. To really get ahead you have to create a budget that pays you before it even considers paying a bill or buying a want. You must then pretend that money doesn’t exist. It’s not vacation money or new car money. This is your nest egg and you are going to have to sit on it awhile and watch it grow before it is ready to hatch.

Advertising

5. They don’t take risks

So, you have saved a hefty sum and your nest egg is ready to hatch. This is where you are going to have to be very strategic in trying to turn your rainy day savings into a stockpile you could retire on. While saving and not overspending are good habits to have, they can become money mistakes if you don’t eventually put your money to work for you.

Any great capitalist will tell you that the key to creating great wealth is being willing to take a risk. Men like Vanderbilt, Rockefeller and Carnegie are perfect examples of risk-takers. They saw the possibility of a need and even though they knew it came with great risk, they had the vision to know that the reward was greater. These men were driven by a resolution greater than money. For them, creating wealth meant creating a legacy. Money was only a consequence of the actions they took in the pursuit of purpose and passion.

Any investment you make is going to be a risk. However, you can offset some of that risk by learning and gaining knowledge.
“Risk comes from not knowing what you are doing” – Warren Buffett.

6. They don’t understand the value of a reputation.

The dynamics of commerce in our culture today is quickly changing and the wealthy are quickly beginning to realize that your reputation and integrity is legal tender. Gone are the days of stomping on the little guy or back stabbing people on your way to the top. This old way of thinking is a big money mistake.

Advertising

In today’s online world, individuals and Businesses rely on reviews and rating when choosing a product or service. When people want to know about the services you provide, they automatically take to the internet to find out what people say about you. In this sense, your reputation is legal tender. One bad review could mean ten lost customers. Two bad reviews could mean twenty lost customers, etc. This means you have to consciously work to develop and sustain good relationships if you want your business or brand to succeed. While you must focus on your daily task to deliver quality products, do not forget that people will go where they feel the most valued. Take some time to build great reviews for your brand or business. Also take the time to work on mending broken relationships.

7. They don’t know how to delegate.

Many people open businesses to make money and be rich. However they never learn how to delegate work. This mistake can tend to be very costly. The wealth that is the freedom of owning your own business is replaced with the stress of thinking that the business cannot run well or smoothly without you.

This way of thinking will ensure that you burn out from stress. Do not confuse delegating work with micromanaging your employees. You must be able to trust their abilities to lead. Find out what the passions of your team are and see if there are any problems within the business that they are inspired to take action and lead change. This system helps you delegate work without ever having to delegate it. You will begin to see more work being done and accomplished around you.
If not addressed, the sum of these mistakes will begin to add up in cost. Take this moment to reflect on your perceptions .Are you on a path to wealth, or have you just trying to be rich.

“The joy and fulfillment found in the process of achieving your dreams and living with passion is often confused with the result of being rich. Do not measure your life’s journey to success with the fickle accompaniment of monetary and riches. Your journey should be measured by the memories gathered, not the receipts; the moments spent in passion, not cash; and happiness shared, not bought.”

Featured photo credit: https://www.google.com/search?q=wealth&biw=1024&bih=455&source=lnms&tbm=isch&sa=X&ei=N_PFVOnkDsSpNsOzgMAK&ved=0CAYQ_AUoAQ#tbm=isch&q=warren+buffett&imgdii=_&imgrc=EzFApNykGWqXWM%253A%3BTDFlL1x4wJ60-M%3Bhttp%253A%252F%252Fonthemoneyradio.org%252Fwp-content%252Fuploads%252F2014%252F10%252Fotmr_warren-buffet_II.jpg%3Bhttp%253A%252F%252Fonthemoneyradio.org%252Ftag%252Fwarren-buffett%252F%3B3000%3B2000 via google.com

More by this author

15 Things Only Nurses Would Understand 10 Things Learnt From The Two Roommates Who Saved More Than $55,000 A Year You May Not Know Your iPhone Headphones Can Do These Things 10 Reasons Why Crazy People Are More Likely To Be Successful You May Not Know These 8 Things Are Pushing Your Husband Away

Trending in Money

1 Want to Get Free Product Samples Like Bloggers and Beauty Gurus Do? Read This. 2 8 of the Best Places to Buy Used Goods Online 3 How To Pay Off Credit Card Debt Fast: 7 Powerful Tips 4 How To Make a Million Dollars in 7 Steps 5 7 Cheap but Powerful Products That Can Help Your Waste Less Food and Save Money

Read Next

Advertising
Advertising
Advertising

Last Updated on February 11, 2021

Want to Get Free Product Samples Like Bloggers and Beauty Gurus Do? Read This.

Want to Get Free Product Samples Like Bloggers and Beauty Gurus Do? Read This.

Imagine receiving a regular supply of free samples through your letterbox?

These free samples by mail could include things such as cleaning products, cosmetics and packaged food.

Free samples are a great way to try out some of the latest products. One week you may have a new toothpaste to try – the next week you may be snacking on a delicious chocolate cookie sample.

As the saying goes, variety is the spice of life. And by requesting free samples by mail (I’ll show you how shortly), you’ll have not just variety – but fun too!

Tell Me More About Getting Free Samples Sent to My Door!

So, it looks like I’ve caught your interest. That’s great news!

Just before I introduce you to 10 places where you can get free samples by mail, let me clarify a couple of things.

Firstly, all the places I’ll talk about are currently active in sending out free samples to consumers. (In other words, no links to out-of-date or dead pages!)

Advertising

Secondly, location is key. If you live in North America, then you’ll have a wide selection of places to sign up to. In other locations (for example, Africa, Asia and Europe), you’ll have fewer choices – but free samples by mail are still a possibility.

Lastly, to whet your appetite for the freebies, here’s a short list of product examples:

  • Pet food.
  • Beauty products.
  • T-shirts.
  • Greeting cards.
  • Wallets.
  • Snack bars.
  • Vitamins.

Free Samples by Mail… Tell Me Where to Get Them!

It’s now time to share my recommendations for the best sites to claim free samples from.

Let’s start with…

#1 SampleSource

    This company sends out boxes of 6-12 free samples about four times a year. Products include baby wipes, cereals and tissues. Register with SampleSource to be notified of the availability of their free samples. (Canada and U.S. only.)

    #2 Influenster

    Advertising

      As their name suggests, Influenster wants to send free samples to you in exchange for you sharing about the products on your social media accounts. Once you’ve become a member (join for free!), they’ll send you a box of free goodies every few months. The more you share pictures and reviews of the products – the more free samples they’ll send you! (All major territories.)

      #3 PINCHme

        This organization will send you free samples in the hope that you’ll then go out and buy the equivalent full-size products. To receive regular boxes of free food, drink and cosmetic samples (and sometimes coupons), then sign up and create your profile. (U.S. only.)

        #4 House Party

          Thinking of throwing a house party? If yes, then be sure to sign up with this company. They’ll send you a box of ‘themed’ products and services that you can hand out at your party. Register with House Party. Wait for the fun freebies to be mailed to you. And then start sending out your party invites! (Worldwide.)

          #5 YoFreeSamples

            This site is a great resource for a whole host of free samples that can be mailed directly to your door (with no survey requirements!). You’ll find anything from books to perfume, with new offers listed daily. Head over to their site to see what’s currently available. (Mostly U.S., with occasional offers for other countries.)

            Advertising

            #6 Magic Freebies

              The U.K.’s most popular freebie site. Register for their email newsletter, and they’ll send you a daily email with eight free sample offers. These include products such as disposable razors, dog bowls, and even fake tan! So, what are you waiting for? (U.K. only.)

              #7 SweetFreeStuff

                Since 2002, this simple site has been linking to the best free sample offers currently available. To get started, sign up to their daily email newsletter, which contains links to the latest offers. As well as free samples, SweetFreeStuff also gives information on coupons and deals. (Worldwide.)

                #8 Sample A Day

                  Would you like to receive a notification of a new free sample every day? Well, that’s the promise from this site. They claim to thoroughly research all offers, ensuring there are no catches or hidden surveys! From baby products to socks, this site is sure to have something for you. Registration is super-easy. Simply enter your email address. (Australia, Canada, U.K. and U.S. only.)

                  #9 Pretty Thrifty

                  Advertising

                    This site specializes in free beauty products, but also lets you claim free samples such as energy drinks, snack bars, and even magazine subscriptions. Pretty Thrifty has more than 85,000 followers on social media, so clearly knows how to attract free sample hunters. One thing that makes Pretty Thrifty stand out from most of their competitors, is that their email newsletter is available in daily, weekly and monthly formats. (Mostly U.S., with occasional offers for other countries.)

                    #10 CrazyFree

                      My final tip for getting the best free samples by mail, is Australian company CrazyFree. Their funky website offers big brand free sample offers, which currently include items such as Dolce & Gabbana perfume, Coke Zero, and Happy Dog pet food. To claim the offers, select the free samples you would like, and then complete their registration form. (Australia, U.K. and U.S. only.)

                      Receiving regular free samples by mail is a fabulous way of testing out the latest products on the market (and some that aren’t even on the market yet!)

                      You’ll impress your friends and family with all the free stuff you’ll be receiving. And take it from me… it’s a fun, free and rewarding hobby.

                      Read Next