So you have sold all your crap, eliminated your debts and put yourself into the financial freedom fastlane…
You’ve got a handle on all the puzzle pieces of your financial life and everything is bliss right?
Not exactly… Your trip to financial abundance is so very fragile, and the wrong decisions can return you to the debt cycle horrors you recently escaped.
So what could possibly seduce you into making these poor financial decisions which hold back your progress?
Not what…. WHO…
Toxic people that’s who… People who can whisper with a tongue of honey and convince you what’s up is down and what’s down is up.
If you surround yourself with toxic people, and allow them to influence your decision making when it comes to your money matters, you are setting yourself up for a fall — in a moment of weakness they can kill your financial freedom and all your hard won progress.
When things are going great, it’s easy to forget the cautionary wisdom that got you there.
You probably have a few of these people in your life already… So be fore-warned, watchful, and wise–don’t let the following destructive forces endanger your goals or exhaust your motivation.
1. The Deadbeat Nephew
Sometimes what looks like being kind and generous is anything but. When THAT person in your family comes to you and asks you to co-sign a loan, think very carefully before you do.
There are other ways to help family without endangering your very financial future.
There is a reason the bank turned him down for the new car in the first place. When he defaults on the loan, he’ll take down your FICO along with him, find another way to help if you are so inclined.
2. The Skillful Car Salesman
There is nothing so dangerous as taking a test drive. The salesman at the dealership is a trained, sculpted and scarred, sales making shark.
He knows when to put pressure on you, when to motivate you, and when to bring in friends to close the deal–leaving you with a new model car, tens of thousands in debt, a monthly payment on your new loan, and you left dizzy as to how it all happened and whose decision it was.
A good salesman knows all the tricks instinctively (respect their skills–it’s an admirable accomplishment) don’t risk YOUR financial health, avoid even coming into contact with these people so you don’t drive off with a new set of wheels and debt to match.
Don’t believe me? See 3 confessions from a former used car salesman via Consumerist
3. The Slimy Boss
It can be easy to fall into the trap of focusing solely on borrowing and your debts as being pivotal to your financial success—but it’s a mistake.
Your income deserves attention, and if your financial security is dependent upon a boss you don’t jive with–you are on a shaky financial footing indeed.
Believe it or not, there are bosses and jobs out there which not only pay you for your work but care about your success.
Getting terminated, can wreck your savings progress as fast as any bad loan can. If your boss uses your job as leverage, or you feel it isn’t healthy, look over the horizon and search for options before it’s too late. If you are worried you have a bad boss situation and your career is in jeopardy, check out the article 21 things horrible bosses do that make people want to quit via MainSt.
4. The Slick Stockbroker
Friendly and knowledgeable, he brings you investment opportunities so you can ‘get in on the market’.
He keys you in on great opportunities and profits here and there entice you to risk more of your cash for the easy returns of a rising stock market.
Nothing wrong with putting your money to work for you, but when you catch yourself saying, ‘there’s no risk,’ it’s time to take a moment of reflection.
Markets change, there is always risk, and your stockbroker makes money on you whether you win or lose.
5. The Perpetual Victim
Have any friends who seem to be emergency magnets, going from one catastrophe to another? To make matters worse it’s usually apparent to everyone but themselves that they ultimately are the cause of their misfortunes whether through poor decisions or a failure to make changes?
While I have compassion for the misery these people bring upon themselves, their failure to take responsibility is an infectious mindset and totally toxic.
Like an airborne disease, through constant contact you can slowly begin to adopt the same beliefs which cause them so much grief. We recently shared some of the personal finance principles the super successful share, you can see them here, how many do you follow?
If you do, you will have nobody to blame for your newly acquired financial problems but yourself.
6. The Negative Nancy
Your daily motivation and inspiration are vital to your success — guard and protect them well.
(Depressed Cat via QuickMeme)
It’s hard enough to keep yourself focused and on path, making the sacrifices and taking the bold action necessary day in and day out without someone constantly working to deflate your balloon.
You don’t need their resistance, you don’t need their resentment, you don’t need their toxic mindset killing your march to abundance.
7. The Taker
Ask yourself if you would classify the people in your life now as either makers or takers. Toxic people enter a situation and look for how they can benefit–what they can get from a situation or individual.
Makers enter the same situation and ask themselves how they can help, what they can do to make it better for the people or circumstances they encounter.
Surrounding yourself with takers is like traveling with a pack of hyenas–all may be well now, but sooner or later if they smell blood, watch-out. For a complete rundown of other character traits you can expect to see in the toxic people in your life check out Inc.com’s 10 Toxic People You Should Avoid Like the Plague.
8. The High-Maintenance Partner
Even if you are on a roll–making all the right decisions, you can sink the success boat faster than the Concordia if you choose your partners poorly.
In both business and romance, if your partner isn’t on board for the ride, they are more likely to crash the car than let you steer. If frugality is important to you, make sure it’s important to your partners. Check out our ultimate money savings idea list here, compare your reaction to the strategies.
Healthy partnerships require shared vision, compromise and shared effort. Ever try rowing a boat in opposite directions? You’ll get nowhere and reap only frustration and anger for your efforts.
If you have determined that achieving financial success is truly important to you, and that a debt free life is worth the sacrifices required in payment to achieve it then you ought to take care not to endanger your efforts.
There are toxic people all around us, who with or without knowing it can kill your chances of achieving the financial security you seek.
Do yourself a favor–don’t suffer your optimism, faith, dedication, motivation and inspiration to be abused needlessly by people with toxic mindsets, and avoid delaying your dreams for anything.