The following list represents challenges you will face in life that have significant potential for destroying wealth. In this context wealth refers to money and capital as well as well-being, comfort and success.
The wrong partner – business and personal relationships
Legal entanglements
Reputational damage
Poor Habits
Debt
Addiction
Seeking approval from others (People Pleasing)
Following the Crowd
Consumerism
Your beliefs such as “Turn the other cheek”, “money is bad” and “No pain, no gain”
Failing to Plan: including budgeting, long term goals, lack of tax strategy
In future posts I will share ideas for protecting yourself and avoiding these pitfalls. If, despite your best efforts, you face any of these know that you are not alone and there is light at the end of the tunnel. Talk about what you are dealing with openly with someone you trust and put your best foot forward for a better future.
The things you own end up owning you. It’s only after you lose everything that you’re free to do anything.
Chuck Palahniuk
Additionally, all of our posts in the Personal Finance Series can be found here.
Finally, more great content can be discovered on our Youtube channel.
