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12 Things You Should Avoid Doing If You Want To Start Making More Money

By GARGI CHAKRAVORTY, 20 May 2018

The literary giant, Sir Bernard Shaw once quipped that “idlers” who didn’t do anything but still belonged to elite rich people’s clubs and keep getting richer. Hence the adage, “wealth creates more wealth” comes in to being. This statement is true even today. It’s an accepted rule that wealth disparity is widening while farm workers and factory worker keep getting poorer, the rich keep getting ridiculously richer.

Make a change in your life now by listening to the advice of rich people

If you slog day and night on a salary that doesn’t seem to be getting you anywhere, then it’s time to make some decisions. Here are 12 things that you should avoid if you want to get richer, things that may be holding you back from earning money. This advice has been compiled by research on biographies of businessmen, science, and advice from personal coaches. 

Advice of rich people

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1 Underestimating yourself and your professionalism

In the book by Barbara Stanny Secrets of Six-Figure Women, she says that there are many common factors that link women who don’t earn a lot. They are usually satisfied with small salaries and are not in the least bit ambitious to grow further. They have an inherent complexity that they cannot manage greater responsibilities. They grossly underestimate their potential. They even downplay their past achievements as a fluke instead of being proud. The low self-esteem prevents them from growing in their position because they think they are just not good enough. This is a result of this tradition of paternalistic tendencies prevalent in many countries still to this day and age! 

Underestimating yourself and your professionalism

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Women need to build more confidence about their abilities

It might sound a bit hypocritical but women can learn the tricks of the trade from male counterparts who attain their goals because they usually overestimate their abilities. If this confidence rubs on ladies, they can also follow their goals to a great future ahead. 

Lauren-Currie_entrepreneur

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2Working for free

In the book 13 things that mentally strong people don’t do, Amy Morin writes that working for free means you aren’t professional. All your time, knowledge and qualities are being used for a company’s profit but not your own. Unless in an exceptional case, why would you do this kind of job? To work for free for someone and ignore years of knowledge and training isn’t only degrading your abilities but is very insulting as well. Besides, even in the probation period you are working full time and contributing to the company’ so that’s why never accept any sort of exploitation by working for free. All work should be justly remunerated. Yes, you do get experience, but in return, you also provide manpower and successful business ideas on the table. And most importantly you are bringing revenue to the company. 

Working for free

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Say no to unpaid work

So say no to any unpaid probation job with confidence and assert yourself. If you truly believe that the probation period is giving in-depth knowledge of the system, you might accept the offer but once you are well-equipped with the operations of the company, make sure you get satisfactory remuneration as well. But in anyways probation period should be paid too. 

Say no to unpaid work

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3Afraid of asking for a promotion

For female employees’ public relations are too important and they secretly wants everyone’s approval, be it their colleagues, peers or their bosses. Just in order to be in good books, it’s very hard for a lady employee to negotiate about promotion or salary hikes even if they know they deserve it. The matter becomes worse when your job responsibilities keep increasing but the remuneration does not because it’s where the exploitation begins. Women are always ready to bend on backward to accommodate every demand made by their superiors. Quit being scared asking about your just dues with confidence. According to a survey, it’s best to negotiate on the first half of a Friday rather than popping the question on a Monday morning, lunchtime or morning coffee breaks. Also, the personality and nature of your superiors too which has to be kept in mind before approaching them. 

Afraid of asking for a promotion

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4Not realizing that time is money and not using alternatives

According to information and technology researcher Peter Cochrane, there are 2 distinct types of people in the world: those who will spend time to save money and the second category belong to people who would spend money to save time. Needless to say, people in the second category are more successful. It can be explained with an example. In order to pick up a package which is far off from your office, you can either spend 2 hours and1$ to fetch it or you can order a courier service from your offices for 5$ and get the package. At a glance, the first approach seems economical, but looking at it logistically, your working hour costs$10, so obviously, there is no logic wasting that hour which you would rather invest in by working and making money. 

Realizing that time is money

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5Staying late at work and neglecting family

This is also known as presenteeism which basically means a person spends more time at the office than what is required sometimes even when they are ill. Now, this can happen for a myriad of reasons, like poor time management, conceited approach to show off that you are the most dedicated staff in the office, or simply that you are too dedicated and think that you are indispensable and the edifice might fall apart if you miss a day’s work. But, this habit won’t help you make more money. Sheryl Sandberg Facebook’s only female COO said that it was routine for work at Facebook to work all night and everyone did that. But, she says that if she followed what everyone did, she would end up being a bad mother and would eventually have to quit. She decided to come in on time, work till 5.30 and then leave to get back online. She still does that today. 

Staying late at work and neglecting family

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6Looking ahead instead of looking around and broadening your visions

Ask any employee in the corporate world about their ultimate ambition and 9 out of 10 would answer that they want be the next CEO of their company. Now there is nothing wrong with being ambitious and climbing the corporate ladder but it restricts your mind and thinking and stops your personal growth. Instead of looking at the top of the ladder, look all around you which will help you with overall growth. 

Looking ahead instead of looking around

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Explore your surroundings and options instead of looking only at the summit

The founder and CEO of Audiencebloom Jayson DeMeers says that such habits limit your own personal thinking and prevents you from earning money. After all, your position is not everything and there is more to you than just your designation. If you diversify your activities apart from your immediate jobs, you can earn more as well be popular amidst different core groups which might also add to your income. There is no such rule that an investment banker cannot be good jazz musician as well. 

Girl climbing ladder

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7Not asking yourself the most important question

Most of us are wired to get a good education, to catch hold of a job which gives a lot of money and social prestige but that might not be necessarily giving you the job satisfaction. This usually happens with people with lot of peer pressure or “herd mentality” where you want to be part of something which society approves of. But on the other hand if you have a choice to pursue your dream and make that as your career you would be tempted to leave a conventional office to make more money. The fact of the matter is if you are in love with your profession you would prosper for sure but if you are stuck in a job due to peer pressure and social prestige you end up stagnating and struggling that prevents your own growth. When you are disappointed in your job, you will never become rich. 

Not asking yourself the most important question

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8Making money your main goal

Of course, money is the ultimate reason for which we work so that we can support ourselves and our needs. But that should not be the sole reason for you working donkey’s years in a job. Money should be the means through which you achieve your professional and personal aims of life. You must earn money to achieve your passion which could be painting, traveling, writing and not earn money just for the sake of it. If a company were given the choice between a candidate who wants to only make money and one who wants to help the company achieve its goals, they would choose the latter. It is important to be passionate and interested in whatever work you are involved in. The money spent on your hobbies or passions of life would make you happy and productive. 

Making money your main goal

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9Living an ordinary life scenario

One must never get stuck in a rut or drab routine of job and home. If you are earning money it's not to live like a wilting cabbage in the fridge but to do all the things which you always dreamt of doing, like traveling, adventure sports, writing poetries or songs, creating your own personal library or even have a family! If you earn enough money to go and have a coffee and croissants in Venice, then go for it. Everyday pushes a bit more and break the limits that you have set for yourself. Rules are meant to broken and when you have the resources then nothing must stop you from doing what you want. And these desires would motivate you to earn more. 

Living an ordinary life scenario

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10Hiding from relationship problems by making work as an excuse

It’s more common in men than women, they hate confrontation or even open communication when things go sour in the relationship and they make work as their excuse for not spending time with their partners. No amount of work can stop you from bonding from your partner if you wish too. It’s a cowardly way out to slink away from confronting relationship issues under the garb of work. Mind, you, the same excuses may also be voiced by women too. Research has confirmed that happy people earn more than their sad counterparts. It is beneficial for both men and women to resolve their relationship issues and personal problems rather than hiding them or carrying that emotional burden to work. Working with a clear tension free mind is important for making money. 

Hiding from relationship problems

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11Not paying attention to your appearance

It is a common human tendency to perceive tall and thin people as more efficient workers than their overweight colleagues. Research from Harvard and Exeter universities concluded that tall slim people made more money than overweight ones. Physical fitness leads to better social skills, higher self-esteem, confidence and high emotional intelligence. Such characteristics make people preferred candidates for plum positions in firms and that obviously makes them rich and prosperous. So it’s about time you lose the flab, hit the gym and pay more attention to your health and appearance and grooming. 

Not paying attention to your appearance

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12Doing only things you’re expected to do

In order to be rich and prosperous be ready to go that extra mile to please your customers or your company and not just limit yourself to your job description. This would reflect your interest in the job and very soon you would be rewarded with more responsibilities and remunerations by your company as they see your true dedication. Follow the dictum of Richard Branson as he believes that one must not just meet the expectation of the customers but exceed them, that my friend is the true key to success. 

Doing only things

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So how can you earn more?

According to financial expert and author of the book You Can Retire Early, Deacon Hayes says you must turn your passion or hobby into your work. Always be in the pursuit of learning something new as it could be anything like online courses or learning a new language. You can create your own YouTube channel or take up freelance work like photography or even create a blog of your own and present your true self to the world. Of course, there would be hurdles in your paths like vindictive colleagues or unappreciative bosses but life is never smooth sailing always. Just take the challenges head-on and pursue your passion. 

Girl capturing photo.

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