We may have different standards on what being “rich” means, but these days, it is as if it is innate to aspire to be one. Sadly, however, most of us have not achieved that. You might be asking why, especially when you read those stories of entrepreneurs who started with nothing and ended up millionaires.

So here are the 10 reasons why you are not rich yet.

  1. You keep on making excuses and leave tasks for “next time”.

You constantly lie to yourself and make the excuse that you still have a lot of time ahead of you to save or to work on your goals. However, making such excuses can disillusion you only for a short time; you will eventually have to face your real situation and the consequences of your earlier actions.

Remember, however, that the longer you slack off, the more time and money you waste. The earlier you do what needs to be done, the more time you have to explore your options and try investing on different things. The earlier you save, the more funds you will have, especially the part you can get from compounding interest.

  1. You don’t make it a habit to save.

It is probably your habit to tell yourself that you will just “save more next month” and to spend all of your monthly income. However, you should think of saving like bodybuilding. Working out regularly without excuses will eventually lead you to your body goal.

Like this, saving is a learned habit that you should get yourself used to. You can learn this by regularly saving with no fail. If you make it a habit instead to promise to get bigger chunks off your paycheck next time, chances are you will be doing the same thing for the rest of your life.

  1. You keep complaining and think negatively.

You keep on saying that life is too difficult. You think that you can never get out of the rat race, or that to be rich is only reserved for a privileged few. This kind of mentality does not only slow you down; it completely stops your progress.

Entrepreneurs and other rich people have a different kind of thinking; unlike you, they believe that they deserve to get rich and they can get rich. Instead of seeing what is wrong, they see opportunities and things they can work to their advantage.

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  1. You’re too afraid of failure.

When you are too afraid to fail, you will turn out too scared to even try or take risks. In the world of business and finance, it’s always about your willingness to take risks and try something new. Take it from the experience of successful entrepreneurs; the now best-selling series Harry Potter was first rejected by 12 publishers before it got in the hands of Bloomsbury. If Rowling had taken the rejections too hard and stopped pursuing her goal, she certainly would not be where she is now.

  1. You spend a lot.

It’s understandable that since you worked hard for that paycheck, you would want to give yourself a treat for it. There is nothing wrong with that, but the problem is when you spend most or all of it.

If it is your goal to get rich, to spend like you already are would not help you. In fact, it would make matters worse. Acknowledge your actual financial state, and budget, save, and spend accordingly.

  1. You think getting rich is about being lucky.

The problem with this kind of mentality is that in a sense, it is almost like giving up. Once you leave it up to winning a lottery in order to get rich, you stop trying. Once you stop trying, there really is no way for you to get rich.

So stop depending on luck and act for your goals. It is when you make things happen that you can make a financial progress.

  1. You focus on the now but do not think about the future.

It is not wrong to believe that “carpe diem”; in fact, it is a good thing. However, making the most out of the moment does not mean you have to forget about the future. You do not have to throw savings and insurance out the window. You still have responsibilities, and in addition to that, it would do you good to think long term as well.

Think of how much you can have a good time once you get rich. With that goal in mind, be willing to make little sacrifices, regulate, and save; it will be worth it in the end!

  1. You think inside the box.

If you are not willing to entertain new and interesting ideas; you prefer to be traditional and too “certain”. Because you always prefer to play it safe, you will end up like the majority. In order to earn big, you have to think and leap big. Instead of ripping off ideas from others, it is better to think of something no one else has or can offer.

  1. You only invest in one thing (or not at all).

While you can be lucky and hit the jackpot even with one investment, you cannot really depend on it with security and certainty. That is why, it is not advisable to put all your savings into one thing. Even if you think it’s a sure thing, always consider the possibility of something going wrong.

It is better to try investing in many different things, of course after studying and researching them. Sure, there might be losses here and there, but you will avoid losing everything at one go. Moreover, you multiply your chances of hitting the jackpot!

  1. You don’t have a plan or specific goal in mind.

As the saying goes: those who plan to fail, fail to plan. It is highly important that you think of concrete ways of how to achieve your goal. Otherwise, you will end up wandering about in any direction and end up lost. It is also helpful to set tiny goals for yourself that serve as milestones towards the big one.

This way, you can make sure there is always progress towards your goal and can adjust accordingly.

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C.E.O @ The New Savvy
Anna Haotanto is passionate about finance, education, women empowerment and children’s issues. Anna has been featured in CNBC, Forbes, The Straits Times, Business Insider, INC and The Peak Singapore. She was nominated and selected for FORTUNE Most Powerful Women conference in 2016 (Asia) and 2015 (San Francisco, Next Gen). Anna has 10 years of experience in the financial sector and is currently a Director in Tera Capital. Her previous work experience includes positions at Citigroup, United Overseas Bank, a regional role in Business Monitor and a boutique private equity firm based in Shanghai. She graduated from Singapore Management University (Finance and Quantitative Finance).