Financial struggles often feel out of our control. While external factors like rising living costs and stagnant wages play a role, many of us unknowingly sabotage our financial success with poor habits. According to Codie Sanchez, entrepreneur and founder of Contrarian Thinking, certain middle-class behaviors are keeping people broke. Here are the top nine habits preventing wealth accumulation and how to break free from them.
1. Saying ‘Yes’ Too Often
One of the biggest financial traps is saying “yes” too frequently—whether to social outings, unnecessary purchases, or distractions.
“Sometimes it’s hard to say ‘no,’” Sanchez explains. “But treating most nights like ‘school nights’ and focusing on productivity can make a huge difference.”
Instead of overcommitting, prioritize your goals and learn to decline activities that don’t align with your financial aspirations.
2. Prioritizing Being Liked Over Being Respected
Many people, especially women, are conditioned to avoid being perceived as “bossy.” However, Sanchez argues that being assertive is a key trait for success.
“I don’t want to be liked,” she states. “I want to be respected and I want to win.”
Success requires setting high standards and providing constructive feedback, not seeking approval from everyone.
3. Failing to Protect Your Time
Time is one of your most valuable assets, and poor time management can keep you financially stagnant.
“The average person gets 41 texts, 100 emails, and five calls daily,” Sanchez notes. “The best advice I ever got was, ‘Be easy to find and hard to reach.’”
Silence unnecessary notifications, implement time-blocking strategies like the Pomodoro Technique, and focus on high-value tasks that drive income.
4. Trying to Do Everything Alone
Solopreneurship may sound appealing, but Sanchez warns that trying to handle everything yourself limits growth.
“If you’re running a multimillion-dollar business, you must have people working for you,” she says. “Going it alone is shallow and lonely.”
Delegating tasks and building a support network can help you scale your success more effectively.
5. Confusing Revenue With Profit
Many people misunderstand the difference between revenue and profit, leading to unrealistic financial expectations.
“Walmart’s profit margin is just 3%,” Sanchez explains. “The average small business profit margin is 6.5%, yet most people assume businesses make around 36%.”
Understanding net profit versus gross revenue is crucial when making business and investment decisions.
6. Not Detoxing Your Brain
Winning often brings increased criticism, which can be mentally exhausting.
“You’ve got to treat your brain like a sauna,” Sanchez advises. “Meditation, exercise, or other forms of self-care help you manage stress and stay focused.”
Regular mental detoxing helps maintain resilience and clarity in your financial journey.
7. Letting Self-Doubt Hold You Back
Society constantly markets solutions to problems we didn’t know we had, feeding into self-doubt.
“The only way to truly win long-term is to have a vision so big it drowns out everyone else’s feedback,” Sanchez says. “You never know for sure if you’ll succeed, but that doesn’t matter. The only thing that matters is knowing what you want.”
Believing in yourself is critical to taking calculated risks and achieving financial success.
8. Avoiding Personal Accountability
Sanchez believes that cleaning up your literal messes translates to financial discipline.
“If you don’t clean up small messes, you won’t tackle bigger financial mistakes,” she says.
Taking responsibility for your actions—whether it’s organizing your finances, sticking to a budget, or addressing debt—builds habits that lead to financial stability.
9. Sleeping Too Late
While not everyone is a natural early riser, Sanchez insists that waking up early gives a competitive edge.
“It’s a lot easier to get things done if you start early,” she says. “Before the rest of the world is awake, you’ve already accomplished half a day’s work.”
Establishing a consistent morning routine can boost productivity and create more time for wealth-building activities.
Final Thoughts
Breaking free from these common middle-class habits requires self-awareness and intentional action. By valuing time, prioritizing financial literacy, and developing discipline, you can shift from financial stagnation to true wealth-building. Take control of your financial future—one habit at a time.
