Flip the script on these 13 garbage ideas.

Some people spend more time looking for excuses than opportunities. Then they wonder why they’re poor.

Does getting rich take some luck? Yes.

Can you create your own luck? Yes.

How? Make better choices.

These are real life excuses and statements I’ve heard. And my rebuttals.

Read also: 12 financial mistakes which will burry you ( if you are not careful)

I can’t afford to invest in my 401k

You can’t afford not to. If your employer matches, you’re literally giving free money away.

Personally I only do enough to get the match. Then I want to go invest my additional money on my own.

The mortgage you get approved for is what you can afford

Almost certainly not.

Banks will approve you for the uppermost limit of what you can afford and never take into account that you may also want to live a life.

Buy less house than you think you need. Cheaper mortgage, taxes, insurance, maintenance, etc.

A 9–5 can’t make you rich

Of course it can.

If you learn to spend less than you earn and invest the difference.

If you and your spouse make 100k combined and only spend 50k to live, you can easily invest the rest and build significant wealth.

Carry a balance to increase your credit score

Hard no.

It doesn’t work like that. All you do is pay exorbitant interest.

Credit card companies must love the people who believe this.

Follow your passion to get rich

Strengths make you rich, not passions.

Passions can be side projects or volunteer work.

But you’re going to make the most money leaning into what you’re really good at.

Save 10% and you’re good

No. Hit a savings rate of at least 20%.

Invest at least 10%. Or if you already have an emergency fund, invest all 20%.

Simply saving is just a guarantee of losing money each year.

Watching TV keeps you poor

Maybe. If you’re not getting other stuff done before you watch.

But I watch TV every night with my girlfriend and we’re doing pretty well.

The catch is I’m disciplined with my daily schedule. So everything I need to do gets done early. And it definitely gets done before I tune in.

You only live once, so don’t worry about spending

What? Life is long when you’re poor.

Take time to invest now and do whatever the fuck you want for the rest of your life.

But yes, also enjoy your life while money matters. It won’t do you much good to be 90 sitting on 10 million.

Avoid credit cards

Credit cards pay you in rewards. They also build your credit, which keeps things cheaper for you.

I use my credit card for every purchase I can. Then I pay it off in full every month.

I use my reward points to buy discount gift cards (free money again) and we go out to family dinners for free.

Renting is just throwing away money. Buy a house.

Houses are a lot more expensive than people think. People also think their home is an asset. Eh. I consider it a necessity, not an asset.

Renting gives you options that home ownerships doesn’t. You can easily leave an area. You can find better housing in your area when your lease is up. You can call someone else when there’s a problem to fix.

If you’re using the money you save on renting vs. owning to invest, you’re good.

If you don’t grind 24/7, you’ll be poor

Nah. I grind, but not 24/7.

I manage my time well. I get all my must do’s done early and I can take it easy most of the day.

I also make sure I show up every day. But some days I only have 50% in me to give. So that’s what the world gets.

No zero days. But get your rest too.

Read 100 books a year to be rich

I actually do read 100 books a year.

But it’s not the reading and knowledge itself that make you money. It’s applying the lessons.

Knowledge is a lot like money. It’s a tool you need to put to work.

Read also: 10 rules that bring financial freedom

Investing is gambling

No, gambling is gambling.

Know what else is gambling? Keeping your money in a savings account that loses you 2–3% (or more) every year. Right now it’s losing you 10–15%. Ouch.

Investing is a way to build your long term wealth. If you think it’s gambling, you’re doing it wrong.

Start with Investopedia.

CONTRIBUTED BY Cait Mack

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