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By Lisa Osiako

Wondering why you are working hard but not making any progress towards becoming rich? What are you doing that is holding you back?

Believe it or not, the power towards becoming rich lies in your hands. Here are a few things you are doing that need to stop:

1. You quit before you even try

People lose out in life because of four main reasons: Lacking foresight in an opportunity, looking down on opportunities, lacking understanding and failing to act quickly enough.

John thought of starting a business and decided to tell a few of his friends, to get their thoughts on his idea. After discussing it with them, they were left confused and most of them told him to drop the idea. One of his friends however, did not agree with the others and told him to try. If things did not work out the way he expected them to, he could always go back to what he was doing before.

With support from that one friend, John was left confused and eventually decided to do it. Looking back, his biggest driving force was: “No matter what one does, regardless of failure or success, the experience is a form of success in itself.”

Have a dream and keep on trying to achieve it.

2. You live above your means

The middle class are said to be borrowing thousands from money lending services to sustain a lifestyle they cannot afford.

Okoth got a Range Rover that required him to make monthly installments of Ksh45000, for a period of four years. He took a loan to start paying for the car as he was expecting some money from his business to boost the payment. The business however collapsed and in the end, he was unable to pay for the car. It was eventually taken back.

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Many individuals, even those with substantial earnings, are broke. They live above their means, which eventually makes them poor.

Live below your means. Have multiple streams of money and have your money work for you, instead of working for it.

3. You have one source of income or unrelated sources of income

Having multiple flows of income including the one you currently have will go a long way in making you rich.

Find ways that you can add income to the job you already have.

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4. You try to use shortcuts

In life, there are no shortcuts. There are many schemes going around that guarantee great returns. The less money you have, the more likely someone will come at you with a crazy scheme. Always keep in mind that if a deal is a great deal, many people would not share it with you.

There are no shortcuts.

5. You do not invest right

What you do with the money you get plays a big role in determining your riches. There are those who earn very little put their money into assets that appreciate over time, and they are able to get more.

There are also those who earn a lot, use the money on buying lifestyle goods and once the source of their money diminishes, they get stressed.

Put money into things that can make it grow so that in future, your money continues to come whether you are working or not.


Getting rich not only requires you to work hard, but work smart too.