People often wonder why is it so hard to make money? Everyone has probably been told at one time or another that money can’t buy happiness. This is largely the truth, but money can offer you opportunities and make it possible for you to experience things that you would miss out on otherwise.
Money might not be your sole goal in life, but it can be a big factor that determines your success and overall happiness.
If you have been wondering why it seems so hard to make money, there are a whole host of reasons that are working against you being able to do so.
You are likely not lazy and you probably have made reasonable decisions based on your knowledge, and yet you don’t have the income that you want or need. This is a common problem for Americans and also people living all over the world.
If you want to know more about why it is so hard to make money, read on!
Why Is It So Hard to Make Money?
1. Saving is Just not as Fun as Spending
One of the biggest reasons that you probably feel like you never have the money that you need for emergencies or planning a vacation is that we are wired to feel rewarded when we spend money.
Humans like to seek things and experiences that make them feel good, and buying new things can offer us feelings of well-being that are not available through lots of other daily actions that we take.
Even spoiling yourself with a coffee at your lunch break can be one of these ways of seeking gratification through spending money and small purchases like this can really add up over time. If you spend just $3 on a coffee 5 days a week, that can be as much as $45-$60 in a month just for coffee!
This kind of spending can really cut into your savings and savings can spare you from using credit cards and interest accruing loans to make payments for emergencies and things that you could not possibly have planned for.
Most of us are told all about needing to make more money but the amount of money that you save is often more predictive of your ability to earn more over time than your actual hourly rate of pay.
2. Hobbies are Expensive
While hobbies can help you to enjoy your life and have things to look forward to, if your hobbies are expensive, you are probably working against yourself. Your overall financial future can be greatly determined by how much money you invest in hobbies instead of in things like investment properties, stocks, and saving for retirement.
Consider whether or not your hobbies are benefitting your future and think about if you should take a break from spending on them for a while.
You might be shocked at how much money you are spending on these items and if you consider what you could be doing with that money instead, you might realize that you could make your money work harder for you if you did not play so hard.
3. People Don’t Know How to Invest
At the end of the day, your monthly income is largely spent on survival. You buy food with it, pay your rent or mortgage and take care of medical bills and other necessities.
For most people, the reality is that they live paycheck to paycheck with no hope of changing their prospects to create better chances for them to grow in their careers.
Investing can help you actually make money that does not require your own personal effort to earn it. This is a powerful tool that the wealthy already know all about, and you should try and make sure that you are educated enough about this topic to get started with some simple investments.
If you know which things to invest in, you can grow your income exponentially over time and make it possible to head back to school, to go on vacations, or maybe to finally go after that dream job that you have always wanted.
4. Lack of Job Opportunities
For many people, a lack of education or skill sets can lead to stagnation in their career. Corporate politics and issues with management can further limit your chances to grow and succeed in your career.
It can be easy to throw up your hands and give up, but this is just the kind of thing that makes it hard for you to move on to new opportunities.
Sometimes security gets in the way of people’s ability to move on to better jobs or to go back to school. Always weigh your options carefully, but if you want to go after a job that makes good money, there is no time like the present.
Change jobs, go back to school, or use your network to make sure that you are not missing out on the chances that you should be taking to get your career onto a path that will lead to the income that you have always dreamed about.
Planning and Saving Can Help You Make More Money Than you Ever Dreamed of
There are many ways to create opportunities for your own personal wealth to grow. You can create the perfect side hustle, get the right career, go back to school, or invest wisely. These are only some of the ways in which you can help break the cycle of limited income and lack of opportunity that might be holding you back.
Learning to create passive income and leveraging multiple income streams can greatly improve your quality of life and help you to get on track to meet all of your financial goals.
We can help you to get your finances on track and to grow your wealth to create opportunity, stability and a better future.
If you have been struggling to figure out why it is so hard to make money, you probably just need our help to get your financial strategies on track. Contact us today for help creating the perfect financial growth plan to help you meet every one of your goals.