Habits that keep you from getting rich

Expert Thomas C. Corley's study of the habits of more than 100 self-made millionaires identified three factors that make a big difference between the rich and the poor.

Thomas C. Corley is a well-known speaker on financial management, a regular contributor to Business Insider, CNBC, and several other national media outlets.

Experts say everyone has 24 hours a day, everyone's activities are quite similar in the 20 hours for work, sleep, eating, moving... The difference lies in the remaining four hours.

After careful analysis, Thomas C. Corley concluded that habits are the precursors that determine a person's wealth, happiness, sadness, stress, and health.

Here are 3 habits of people who work hard but still can't get rich.

Can't escape the crowd mentality

Many people are not lazy but their lives still cannot improve. When asked about their future plans, the answer they receive is "How can you plan anything with a salary, life is fine as it is".

In the book "Crowd Psychology", French psychologist Gustave Le Bon once said: "After an individual joins a group, they will lose their self-awareness and become a blind, impulsive, fanatic member under the oppression of the collective will".

Understandably, when a person is in a crowd, factors such as social pressure, unforeseen events, and the influence of others can change the way they behave compared to when in a single environment.

Therefore, when you are surrounded by selfish, narrow-minded, opportunistic and lazy people, if you stay there for a long time, you will be "infected" with bad habits without even knowing it.

Or when you try to change but are ridiculed, your enthusiasm will gradually dry up and you will not want to continue changing.

No relationship building

Andrew Carnegie, the king of the American steel industry, shared that "the knowledge of experts only accounts for 15% of their success, the remaining 85% depends on relationships".

It is not certain that someone will stay in the same job forever, but in difficult times, the relationships built up before will come into play. Networking with people in the same industry, or even different industries, will bring many new job opportunities.

Similarly, if you do not know how to build relationships with customers or partners, you will lose many opportunities for career advancement and find it difficult to achieve success in your career.

Don't know how to manage money

In business, there is the "Coffee Cup Effect" introduced by David Bach, an entrepreneur and founder of FinishRich.com, which states that "a small amount of money spent regularly will cost a lot more than we imagine."

This effect applies to everyday shopping habits. Although each purchase is small, but buying many times a day, adding up over many days and weeks, it will be a large amount. The important thing is that most of these items are not really necessary for daily life. People who work hard but still cannot get rich are also caught in the invisible trap of this effect.

Only by keeping a detailed and complete record of your expenses can you see the connection between your small expenses and your total monthly income, thereby helping you gain better control over your finances. This is an important first step to help you avoid the Latte Trap and move towards a more stable financial future.

Some suggestions from Thomas C. Corley to improve your money mindset:

The first:Don’t just complain, but plan to make your work smoother and more efficient. Good performance will make you stand out from your peers and give you more opportunities for advancement.

Monday:Never stop learning, learn more skills based on your own development path, and increase your value.

Tuesday:Don't always cooperate and socialize with people of the same class, but find opportunities to interact with people of a higher class. Every time you improve yourself, you will be a little further away from the class you belong to and a little closer to the high class you are aiming for. Step by step, one day you will reach a new position.

Why should you aim for higher social classes to develop yourself? Matthew Effect says: "The higher the social class, the more money you earn, the higher the interest rate."