(ThyBlackMan.com) Broke people speak a language of poverty. Here are 12 things they themselves that prevent the creation of wealth.
The rich aren’t really that different from the rest of us. They put their pants on one leg at a time. They breath the same air. They need food, drink and sleep just like us.
And as Thomas Stanley, author of The Millionaire Next Door, points out the overwhelming majority of the rich in America were not born wealthy.
So what then separates the rich? Why are some people pushing million dollar portfolios while others are pushing mountains of debt?
It may well have to do with the mindset. The wealthy speak in a different language. They ask wealth building questions.
Broke folk, on the other hand, speak the language of poverty. They internalize wealth destroying beliefs. They tell themselves things that keep them broke.
“I deserve it”
We all work hard. Long endless days and nights at the office or in the field. And no one seems to appreciates it. So sure, we may feel like we “deserve” anything we buy.
But in reality what we really deserve is an emergency fund, a nice retirement account, and the peace of mind that comes with being debt free – all of which 
we’ll never get treating ourselves to everything under the sun.
“It’s on sale”
Yes broke people marvel at the fact that they’ve tagged that special deal. It’s a sign of ultimate achievement – 50% off the flat screen, 65% off those sharp pair of shoes.
Never mind the item was probably made in China on the cheap. And forget the fact that you already have a closet stuffed full of shoes or more televisions than you need. It’s a deal.
The golden rule of sales – No matter how good the sale, if you don’t need it, it’s not a deal.
“I’ll pay it off at the end of the month”
Isn’t that what everyone says? Sure we have good intentions, but by the end of the month something else has come up – some other expense or emergency – and our best intentions go by the wayside.
And credit card companies know this. That’s one of the reasons the average American household is drowning in over $15,500 in credit card debt.
Simple but effective advice – If you can’t pay cash don’t buy it.
“You only live once”
Yes we do only live once. But why not live a life free from the stress of bills and credit card debt? It’s alright to splurge once in a while, but living it up constantly only ensures we live life broke.
“The monthly payments are only….”
Monthly payments – a retailer’s best friend. Yes that monthly payment may seem low, but we’ll be making those low monthly payments for years and the interest grows like a cancer consuming our financial well-being.
“I need it for work”
How often do we rationalize the purchase an expensive suit or designer shoes as a necessary part of our career advancement? Yes we tell ourselves we must look the part. No we can’t drive a broke down Honda. A young professional needs that brand new Acura.
Funny thing most bosses are more concerned with job performance than what we drive or wear.
“I don’t have enough money to save”
How is it that we can find money for everything else in life – cable television, eating out, shopping, movies. But savings always get pushed to the side. As one prominent blogger likes to say, “Save your money and one day your money will save you”.
“But it’s free”
“Free” is one of the best marketing traps ever invented. I talked earlier about how “free” forces us to make some irrational choices. Inevitably there’s always a catch. The free item on the late night commercial carries a hefty $19.95 shipping and handling fee. The free month’s gym membership is more than offset by a $89 application fee.
In life there is no such thing as “free”.
“Debt is a part of life”
Amazing how our grandparents and great grandparents made out just well without debt. And while many of us make more money than they’ll ever dream of, we’re up to our eyeballs in debt.
“It’s a once in a lifetime deal”
Yes until the next “once in a lifetime deal” comes along. We live in a capitalist society where competition guarantees there will always be someone offering a “once in a lifetime” deal.
“You’ll always have a car payment”
It’s amazing how we’ll chain ourselves to debt to purchase something that loses value as soon as we drive it off the lot – and continues to lose value for years.
Most cars built these days will last 200,000 miles or more – but how many of us feel the urge to buy new wheels long before that?
The surest way to stay broke. Buy a new car every three or four years.
“You only get married once”
Have you ever seen a couple spend $30,000 on a wedding only to divorce long before the debt has been paid off. Not a pretty picture. There’s nothing wrong with wanting that special day, but we don’t have to begin a marriage on a super-sized foundation of debt to do it.
What wealth destroying sayings have you witnessed?
Everyday people recite poverty messages that keep them broke. What are some of the things you’ve heard that keep people poor?
Staff Writer; Dr. Charles Alonzo Peters
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