Why Smart People Fail to Get Rich: 3rd Sign of Low EQ
Third sign of low emotional intelligence that is making it hard for smart people to get rich
is their being an impulsive buyer in nature. This is in a way related to the second sign of low emotional intelligence since both has something to do with patience.
Naturally, since smart people do not have that much patience they tend to become impulsive buyers. For the benefit of those who do not have a clear idea of what this means, an impulsive buyer based on the businessdicitionary.com is someone that has an unplanned to decision to buy. In other words, impulsive buyers buy things when they feel like it. They are basing their purchases according to their moods. If they are feeling depressed they tend to make even more purchases even if they really do not need it leading them to financial difficulties, family disapproval, and feelings of guilt and disappointment.
Smart people find it hard to get rich because of LOW EQ
Obviously, being an impulsive buyer will never help you with your plan to get rich
and is a result of very low emotional intelligence. A lot of smart people spend on impulses and shopping is their favorite hobby. They buy and buy like there is no tomorrow and shop until they drop. All their hard earned income is diverted to all their impulsive buying decisions. If they have money they spend it all instantly without even thinking of tomorrow. Although smart people are aware of this impulsiveness, they find it very hard to resist and control mainly because they do not have the patience and are low in emotional intelligence.
So the next time you make a purchase, be emotionally smart enough to differentiate a need from a want and whether you really need to make that purchase or it’s just another form of impulsive buying. Learn to control your emotions and I guarantee financial success would not be that far away.