5 Habits That Will Prevent You From Becoming Rich

Becoming rich is a dream for most people, but with careful planning and dedication, you can make this dream your reality. There is no single formula to get you there, but there are a few behaviors you must avoid if you ever hope to see a six-, seven-, or eight-figure net worth.

Here are five of the most common mistakes that work directly against your goal of becoming wealthy.

You may not want to hear it, but even millionaires and billionaires need budgets, or they wouldn't stay rich for long. People tend to think of budgets as constraining, but the wise among us see them as tools that can help us achieve our financial goals more quickly. It's OK to budget some money for short-term wants, but your focus after paying for your basic necessities should be on saving for your long-term goals first.

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Source Fool.com