The 10 shocking reasons people have no money

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10 reasons why you are still living paycheck to paycheck

Why are some people perpetually broke even with a high-paying W2?

It’s a question I’ve wrestled with for years—and this week, I sat down with real estate coach Brian Adamson to break it down. Together, we unpacked the mindset traps, financial missteps, and self-sabotaging behaviors that keep people spinning their wheels, no matter how much they earn.

This isn’t about luck or intelligence. It’s about discipline, belief, and choices.

1. Confusing lack of resources with lack of resourcefulness

There’s always a way to tap into your resourcefulness, even if you don’t currently have the resources. Maybe you don’t have any money in your bank account. That doesn’t mean you’re stuck. If you’ve got a credit score, a skill, or a network, you’ve got options. But too many people freeze instead of getting creative.

2. Buy now, pay later madness

Debt used to come from credit cards. Now we’ve got people financing groceries and fast food. If you don’t understand debt, buy-now-pay-later is a financial landmine. You don’t even realize how much debt you are in until it’s too late.

3. Gambling with student debt, but not investing in yourself

Brian says we either risk our way to wealth or gamble ourselves into poverty. It’s all too common to take six-figure loans for degrees with no guaranteed job. All the while, real opportunities for specialized income go ignored. People tend to borrow big for uncertain prospects but ignore smaller bets with high ROI.

4. “I deserve it” mindset

“I deserve it” is probably the most dangerous phrase in your wealth-building journey. A $300 pair of shoes, new cars, second homes—these things are off-ramps from your ultimate goal. You deserve what you’re working so hard to achieve. Wealth is a 10-year journey. Don’t blow it in year 4.

5. Zero planning for the inevitable downturn

Real estate agents. Mortgage brokers. Entrepreneurs. Everyone kills it in the upcycle during the COVID-19 pandemic—until they forget the downcycle is coming. If your financial plan doesn’t include dry seasons, you don’t have a plan.

6. Sacrifice is treated like a dirty word

Wealth starts with living below your means. That’s how you build investable capital. House hacking. Delayed gratification. Sharing a bathroom. Every millionaire I know sacrificed something to get there.

7. Actions don’t align with beliefs

You say you want wealth, but your actions prove otherwise. You either need to change what you do or change what you want.

8. Inflation is real—but so is your income ceiling

Yes, inflation is real, and life’s gotten more expensive. But you can only cut down spending so much. At a certain point, you need to focus on figuring out how to increase your income. You don’t have to accept your current means. Are you learning new skills? Asking for a raise? Switching jobs? Fact is, if you're just cutting expenses, you’re missing half the equation.

9. Ignoring your own monetizable purpose

We all have a purpose that should be profitable. You don’t necessarily need a second job—you need to double down on what you’re already good at. Purpose-to-profit means finding the thing you can teach, create, or coach around, and helping others a few steps behind you. This gives you wealth and also fulfillment.

10. They don’t believe it’s possible

Here’s the honest truth: most people stay broke because they don’t believe they can be anything else. If someone is in a worse situation than you figured it out, then why not you? Belief is step one. Action is step two.

ResiClub chart of the week:

Last week, ResiClub’s Lance Lambert reported that the number of unsold completed new single-family homes in the U.S. just hit the highest level since July 2009. In March, there were 119,000 unsold completed new single-family homes across the country—up from 89,000 a year earlier.

“While the U.S. Census Bureau doesn’t give us a greater market-by-market breakdown on these unsold new builds, we have a good idea where they are based on total active inventory homes for sale (including existing homes) that have spiked above pre-pandemic 2019 levels,” Lance wrote. “Most of those areas are in the Sun Belt around the Gulf.”

Why is this important? This build-up means there is greater slack in the new construction market now than a few years ago, giving buyers/investors some leverage in certain markets (particularly in the Sun Belt) to negotiate better deals with homebuilders.

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