🥕 The most toxic money habit... 😭

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🥕 The Most Toxic Money Habit… 😭

After growing and selling many businesses, mentoring dozens of elite entrepreneurs and mingling in very expensive networks… There is only 1 money trait that I can point to that will absolutely break you.

If you have it, you are likely struggling financially and don’t have much of a savings.

Last I saw, in the United States, 80% of the population lives paycheck to paycheck and has no emergency fund. That’s scary.

And here’s why:

THEY ARE TRYING TO KEEP UP WITH THE JONESES… 

If you never heard this phrase, it basically means that you are trying to keep up with your friends, neighbors, coworkers who you think are “doing better that you” and are more flashy.

Because you feel like you are falling behind, you go and buy the latest car, try and move into the best house or apartment, get the latest phone, have the best designer clothes… and so on.

While it makes you look like you “have it made in the shade”, deep inside you know you are dying with loads of credit card debt and wondering if you can afford next month’s rent.

But hey, at least you look good doing it, yea??

What you created for yourself is a nice little cushy prison cell. One that you will have a hard time getting out of unless you double or triple your income.

It’s been proven though, that if you make more money, your previous habits will have you spending more money. It never ends.

If you’ve gone down this path, my best advice would be to scale way the f**k back. Sell the expensive stuff, cancel the subscriptions, get a cheaper car, a cheaper place to live and get financially sound. Otherwise it’ll never end.

Years will pass and you’ll be in the same boat. There is no way of getting out of it.

If you just settle down and give yourself a good 2-3 years of hard work and low expenses, it’ll do wonders for you. It’s like weight off your shoulders.

Plus with the new savings you’ll now have an ability to put more into your business, travel without a worry and build great money habits.

It’s what I see make or break entrepreneurs.

Random meme of the day:

Tomorrow’s Friday!

/Wise Carrot/

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