Section 1.1: Habit One - Over-Consumption

It’s all too easy to fall into the trap of consumerism. Instead of engaging in meaningful activities, people often find themselves mindlessly scrolling through social media or binge-watching shows. This cycle can consume a large part of your day, leaving little time for productive pursuits that could lead to future income. Reflect on how much time you dedicate to developing skills such as coding, writing, or even managing a YouTube channel. If the answer is minimal, you may be spending too much time consuming others' content.

While social media isn’t inherently negative, it can waste both time and money. Impulse purchases and subscriptions can add up quickly, draining resources that could be better spent elsewhere.

Section 1.2: Habit Two - Lack of Skill Investment

Since finishing college, I’ve observed that most of my successful peers didn’t achieve wealth through traditional employment. They cultivated their wealth through specific skills. During my college years, I invested my time in learning various subjects that were not directly related to my major. This diverse skill set eventually paved the way for my career as a writer.

As articulated by Cal Newport in "So Good They Can’t Ignore You," the key to success lies in mastering valuable skills. Those who don’t prioritize skill development may find themselves on a challenging financial path. Skills are becoming increasingly essential in today’s economy.

Section 2.1: Habit Four - Instant Gratification

“Many people mistakenly believe that life should always be enjoyable, leading them to seek constant distractions that hinder their growth.” — Robert Greene, "Mastery"

The journey to wealth often requires patience and perseverance. Many renowned authors, including J.K. Rowling and Stephen King, spent years honing their craft before achieving success. If you struggle to delay gratification, you may find yourself constantly seeking shortcuts, leading to unfinished projects and unfulfilled potential.

With the rise of addictive platforms like TikTok and Instagram, many young individuals find it increasingly difficult to appreciate the slow and steady process of building something meaningful.

Section 2.2: Habit Five - Lifestyle Inflation

One common pitfall is the tendency to increase spending as income rises. This behavior can trap individuals in a cycle of financial struggle, no matter how much they earn. To escape this rat race, it’s vital to control consumption and maintain a lifestyle below your means, allowing for savings and investments.

Section 2.3: Habit Six - External Blame

An inspiring story comes from South African entrepreneur Vusi Thembekwayo, who built a thriving business despite significant personal hardships. He learned that making excuses based on external circumstances would only hinder his progress. Successful individuals take responsibility for their situations and find creative solutions to overcome obstacles.

Section 2.4: Habit Seven - Lack of Discipline

Discipline is essential for achieving long-term success. Many people become excited about starting new projects but abandon them when the initial thrill fades. As Denzel Washington wisely said, “Without commitment, you’ll never start. But more importantly, without consistency, you’ll never finish.”

Section 2.5: Habit Eight - Neglecting Financial Literacy

My perspective on money transformed after reading my first financial book. While complex investment strategies may not be necessary, a fundamental understanding of financial concepts is crucial. Money should be seen as a tool for creating opportunities rather than merely a means to purchase fleeting pleasures.

Section 2.6: Habit Nine - Identifying as Poor

There are two types of individuals in poverty: those with a wealthy mindset who actively work towards their goals, and those who have resigned themselves to their situation. Your beliefs shape your identity. Even if you’re not wealthy now, you possess the ability to learn and develop the skills necessary for financial success.