Financial Fast Day 11 of 21: Misplaced Entitlement is Keeping You in Debt

Entitlement in itself is not bad or negative. But when misplaced it can lead to poor decisions and bad habits. We are all entitled to fairness, happiness, freedom, etc. The belief you are entitled to many material items will and does lead to debt. Where do we go wrong with entitlement? There are various reasons. I will only discuss a few of the most common reasons we feel entitled. First we compare ourselves to our friends, neighbors, coworkers, athletes, entertainers, etc. Many times measuring ourselves to these people cause us to make bad financial decisions. Secondly, we see money in the bank or have a high salary, so I obviously MUST buy this.  Thirdly, I was deprived of this as a child so I or my kids deserve it. Not having something as a child doesn’t mean you should have it as an adult. Forth, I work hard so I deserve this. Lastly, I’m already $150,000 in debt so what is another $5,000. If I’m already in a bad place, it won’t get better if I pass up something that will make it worse.

Entitlement is tied directly to your emotions. It is key to reflect on your feelings when purchasing physical items and services. Ask yourself these questions. Do I truly need this service or item? What purpose will it serve to you and your family? Will I be able to grow and learn from it? Can I positively impact the lives of others with this item or service? Anything with true value allows you to do just that.

You are really entitled to prosper! How does letting these negative thoughts of entitlement lead you into prosperity? How do your actions of entitlement lead you to prosper? How have the things and places you have been made you prosper? When you answer these questions be open and honest. Take action to change your thoughts of negative entitlement to reach real prosperity.

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