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Entrepreneurs - March 18, 2022

5 Reasons You Don’t Have to Be a Genius to be Rich

People are more interested in financial stability; thus, your IQ has little influence on your wealth. 

Many people always equate success with genius. Being a genius does not guarantee you will become rich or successful. A high intelligence quotient (IQ) has nothing to do with wealth creation.

Jay Zagorsky, an economist and the lead author and a research scientist at Ohio State University, revealed that there is no symbiotic relationship between being smart and being wealthy. From the study, people are more interested in financial stability; thus, your IQ has little influence on your wealth. 

Most successful entrepreneurs are just hard workers and a bunch of people crazy enough to believe they can achieve the seemingly impossible, and they give it their all to reach that goal.

Here are why not being a genius is not a yardstick to being rich and successful.

You have a winning personality

Not all rich people are genius, but rich people have a winning personality. In his study, James Heckman, an economist, discovered that financial success correlated with conscientiousness, a personality trait marked by diligence, perseverance, and self-discipline.

An average person who has the trait of doing things well and thoroughly does not necessarily need to be a genius to be rich. Being diligent, dedicated, meticulous, careful, and hard-working are signs of being on the path of being very wealthy.

You have a money mindset

Having a money mindset is how you view money and how that viewpoint shapes your relationship with it. Therefore, the money mindset is relative and not linked to being a genius. Your perception of money is what will assist you to be rich.

Since wealthy people think differently about money, you must express your money attitude to appeal to a rich mindset. Getting rich is not a one-time event, so you need to combine it with hard effort and dedication.

You have a budget

It does not take a genius to know that budgeting your expenses is essential for your financials.

The truth is you must save money to accumulate riches. Due to this, you must budget as knowing what you spend your money on is the first step toward cutting costs and increasing your wealth.

You put in consistent effort

The secret to unlocking untapped potential is consistent work, not strength or intelligence. While some brilliant people fail in life is because they give up too soon, ordinary people succeed because they keep pushing.

The difference between success and failure is consistency and not being a genius. Consistency leads to the gradual building of wealth.

You have your spending under control

Tracking your spending is one of the most important things you can do to get rich without being a genius. When you don’t track spending, you don’t know where your money is going. And that means is that you don’t have control of your finances.

Once you master the habit of tracking your expenditure, controlling it and reviewing your money at a glance will become easier.

READ ALSO: Want to be Rich? Here are 7 Skills You Must Develop

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