What Separates Those Who Build Wealth From Those Who Do Not?

I am not talking mechanics here.  I know the people that save, invest, postpone gratification are those that get ahead financially. 

However, alot of people know the mechanics of the system, but not alot of people apply the basics.  Why do some apply the basics and not others.  What causes lack of discipline in spending? Do we blame it on marketeers?  Do we blame it on parents?  Left brained People versus Right Brianed? Do we blame low self esteem? Internal vs External Locus of Control?

My guess is locus of control.  As defined by Wikipedia:

 Locus of control theory is a theory in psychology that originally distinguished between two types of people – internals, who attribute events to their own control, and externals, who attribute events in their life to external circumstances.

 How can I incorporate this into my Financial Health 101 course? Help! I’m stuck!

Advertisements

One Response to “What Separates Those Who Build Wealth From Those Who Do Not?”

  1. Know Thyself - What is Your Money Personality Types « Dollars & Sense Education Says:

    […] November 8th, 2007 — Nicole McInerney I have written a couple articles such as this one and this one on the psychology of money.  There is the MBA finance chick side of me who looks at […]


Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s

%d bloggers like this: