Mindset Mastery 161 – 5 More Causes Of Common Failure

Napoleon Hill knew that Personal habits and beliefs can be just as devastating to your finances as any factors outside your control. Scour this list and see what might be plaguing you.

Personal Habits Cause Failure, Too

21. The habit of indiscriminate spending. Unfortunately, with the convenience of fast credit and fast spending, this problem has only been on the rise since Hill’s time. Rather than learning how to spend and use credit responsibly, we building ourselves ever mounting piles of debt. Free-spending is not a practice that is part of good business management. The spend-thrift cannot succeed, mainly because they stand eternally in fear of poverty. Build yourself the habit of systematic saving by putting aside a definite percentage of your income every week. Money in the bank gives a person a very safe foundation of courage when bargaining for the sale of personal services. Without money, a person is forced to take what he or she is offered, and be glad to get it.

22. Lack of enthusiasm. Without enthusiasm a person cannot be convincing. In addition, enthusiasm is contagious, and the person who has it, under control, is generally welcome in any group of people.

23. Intolerance. The person with a “closed” mind on any subject seldom gets ahead. Intolerance means that one has stopped acquiring knowledge. The most damaging forms of intolerance are those connected with religious, racial, and political differences of opinion.

24. Overindulgence. People overindulge in many ways; strong addictions to anything can mean a person has their priorities all out of place. Things like overindulgent drinking, substance abuse, and the like can be fatal to success.

25. Inability to cooperate with others. More people lose their positions and their big opportunities in life because of this fault than for all other reasons combined. It is a fault which no well-informed business person, or leader will tolerate.

The Silver Lining

The good news is that if what holds you back is some personal attitude or habit, it is well within your ability to change the situation and stop these causes from continuing to hinder you from creating wealth. Identify those traits, and resolve in earnest to stop them in their tracks today.

Sean Rasmussen
Success Communicator
Aussie Internet Marketer © 2004 – 2009 Click to play at Online Caisno HEX

About Sean Rasmussen

Sean Rasmussen is a passionate blogger and has been a full time internet marketer since 2005. When he's not with his family, or dog Buddy, Sean is usually blogging or doing something related to the internet.

Comments

  1. Sean , I love your post and just how you have laid out so many of the common faults (or should I say TRAPS) that far too many people are falling into in what we call the modern information age. Yes the wonderful & great 21st century , it is not a happy site seeing young families falling apart due to the lack of money management & financial institutions taking full advantage of the situation , by virtually giving money out to people they know have no way possible of ever repaying it .

    Sorry for getting off my bike mate, it’s just that what I see going on with financial institutions is in my book “CRIMINAL” and there should be governing laws to stamp out all this bye now & no payments for 2 yrs CRAP !!

    Only my opinion folks , yet how close to the money do you think I am.

    Allen Sentance Fisherman
    .-= Allen Sentance Fisherman´s last blog ..Tribute To SENO My Brother =-.

    • Hi Allen,

      good point. And calling them “traps” is a great idea, as even if you haven’t fallen into them yet (so have experienced that “failure” personally) it is still a danger that we need to be aware of. And hopefully make others aware of as well.

      I am still fascinated (or maybe better horrified) about the TV advertisement pushing for “by now, pay nothing for the next 3 years”. That is tempting, but no one warns you about the long term problems that can cause for you. Not very responsible and not really ethical in my books.
      .-= Renee´s last blog ..Motivational Music =-.

  2. I agree with Allen; let’s call them traps, because that’s what they are. And with point #21, the trap is very purposeful. There is a very persuasive multibillion dollar advertising industry whose sole rasion d’etre is to empty our pockets. When was the last time you saw an ad suggesting we spend less?

  3. Michael Woldu says:

    Great post Sean.. The only way to save ourselves from the economy is to ADAPT.. a very hard thing to do for humans i might add coz we always tend to adapt the surrounding to to meet our needs other than the other way around.
    And to “Mr. Jay from Philli” , if there was an Add suggesting we spend less, I don’t think it would be called an ADD… more like a public service announcement.. loool

  4. I used to feel unfulfilled and tried fill the void by buying so many clothes and shoes. I worked by bum off in a job that I worked 10-11 hours a day. Sure, plenty of money and no sense – I learned from that experience.

    Looking back I can see that I lacked direction and out of control – and I used money to buy clothes to make myself “feel” better. My life is completely different

    But noone teaches good money management at school though. I remember in primary school representatives from St George & the Commonwealth coming to the school – they said the best place for your money is in the bank and then they handed out plastic money boxes. Brainwashing children….

    Wonder if they still do that today?
    .-= Samantha Banfield´s last blog ..Sean Rasmussen and his crazy talk! =-.

  5. Indiscriminate spending – I remember as a kid, knowing instinctively that spending less than what you earn is a basic principle to wealth creation. Shame it’s such a problem for so many people. This one failure can keep you in a job you hate, working to pay the bank and the government for the rest of your life…
    .-= Lina Nguyen´s last blog ..How to make comments online and build your online persona =-.

  6. Jazz Salinger says:

    Hi Sean,

    Thankfully I don’t see myself on this page because I have so much to fix from the last list of failures. It’s true that you can’t change what you don’t acknowledge as a problem.

    I think the good news is (I hope) that even if you find yourself like me somewhere on the list of causes for failure, you can rectify the problem. Just because you have been doing something wrong doesn’t mean that you will continue to do so. You can make a change for the better.

  7. I haven’t found my demise on this list but know a lot of people who over spend because of having credit cards and are constantly trying to dig themselves by spending more.
    .-= Sarah Butland´s last blog ..My Book Review of The Pact by Jodi Picoult =-.

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