3 Hidden Hurdles Holding Us Back From Financial Freedom - Articles & Commentaries

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07 November 2023

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Achieving financial freedom is more than just numbers and calculations. It is also about overcoming invisible factors that hold us back from achieving our goals. Here are 3 common ones.

1. Your Fear

A fear of failure can hold people back from taking risks and pursuing opportunities that could lead to financial freedom. This fear can paralysing and prevent us from stepping outside our comfort zones including making a plunge to the investment realm.

Overcoming the fear of failure involves embracing a growth mindset and understanding that mistakes are valuable learning experiences on the path to financial success. So, don't be afraid of making those leaps. As often put, the biggest risk is not taking one.

2. Your Ego

An inflated ego often leads to individuals developing a belief that they deserve lavish lifestyles or immediate wealth without putting in the necessary effort or discipline. This entitlement can lead to overspending, accumulating debt, and a lack of financial responsibility. The ubiquity of social media has also exacerbated poor financial habits with many seeking to brag about their wealth and status through lavishly curated posts.

However, a little self-awareness and humility can go a long way towards cultivating a positive mindset that is focused on long-term wellbeing rather than short-term gratification. Get over yourself and avoid the spotlight effect. The truth is we care more about what other people think about us than they actually do.

3. Your Excuses

We have all heard these excuses before: "I'm not good with money," "I don't have the time," or "It's too late for me to start." But sometimes all you need is a little push and realise that change starts with you. Take responsibility for your financial situation and make a plan.

By taking ownership of your financial journey and eliminating excuses, you can overcome obstacles and make meaningful strides towards achieving financial freedom. It may be helpful to also surround yourself with a supportive network that encourages you to raise your financial game.

Rise Above

By staying mindful and actively addressing your fears, ego, and excuses, you can break free from the limitations that hinder your financial progress.

Remember, achieving financial freedom is within your reach, and it starts with taking the first step towards a brighter and more secure future.

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