Lewis Howes explains how desperation when you're broke leads to bad decisions: buying things you can't afford, chasing lottery tickets, falling for get-rich-quick schemes. Real wealth builds slowly, not through shortcuts.
If you don't have money, you are at the mercy of people that have money. You become desperate because now I have to go to work, I have to do these things. And desperate people don't make good financial decisions. And it's really unfortunate. But now when you're desperate, what happens? Well, the first thing is if I'm just in a really crappy place, maybe I start to soothe myself by buying a nice car that I can't afford, buying a nice watch that I can't afford, buying some nice clothes that I can't afford, or indulging in drugs or alcohol or other things like that. Lottery tickets. Maybe now I try to soothe myself doing other things. Maybe now I say I want to get rich, and this guy on the internet says if I pay him $995, he's going to give me a 6-step system to making 6 figures in 6 months working only 2 hours a week. That sounds great. Or maybe if I just throw my money into this cryptocurrency, into this hot stock everyone's talking about, I'm going to be able to double my money in 12 months. And now we get caught up in this idea of fast money, because I'm desperate, I'm in pain. Well, unfortunately, that's not how building wealth works.
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