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MadAbout
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Lottery winners. They win a huge sum of money just like that, and lose it just the same way. Now think about other entrepreneurs, the investors, the people who play a calculative yet adrenaline laden game. These people get rich, and then they lose money, but they earn it all again. These people make others wonder if getting rich is a matter of destiny and luck. This is the question that must be answered. We know it’ s not possible to answer this question perfectly, but we are here with the best that we can. After all, that’ s all that matters. It’ s not about being absolutely right, it’ s about knowing where we can fail and how to overcome it, not avoid it. You can’ t avoid risks, you learn to take risks and turn them into your favor. The mindset of rich people
Books such as Secrets of the Millionaire Mind by T. Harv Eke tell a lot about the mindset of rich people. What they think about money, how they perceive it in comparison to poor or not so rich people. Learning how rich people think can be a very useful stepping stone as you can then figure put if your thought process matches theirs. In case your thoughts don’ t match, this can be considered as a hurdle, and this is what you might want to change about yourself. The mindset is the key.
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Learn from the habits of the rich
Your habits should take you towards wealth, success and healthy mind. Success is not a onetime event, it’ s a habit, so if you want to be wealthy, make your habits that match your vision. Start with inculcating a habit of saving. The best idea is to spending money after saving a certain amount, rather than spending money beforehand and then saving the rest, chances are, there wouldn’ t be any money left to save at the end of the month. Learn from the habits of rich people, and adapt them. You can either work for weekends, or work for a car, or a house.
Your Worst Enemy: Procrastinating
We understand that it’ s hard to sit back and relax with so much going in today’ s fast life. And this is what makes time even more valuable than it used to be earlier. Time is an asset that you never get back. Give your goals the highest priority. If you are a procrastinator, you can use
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this trait in your benefit too. Just delay the unnecessary expenditures and events that need your time but aren’ t important. As they say, Lamborghini doesn’ t advertise because the people who can afford it are not watching television, they are making money.
Anger drives wealth away
Fear is an emotion that stops people from taking a step, from taking an action, from making a decision. Fear leads to inaction, which will take you nowhere in best case, and bring you down in worst case. Fear doesn’ t let you move forward. Anger, on the other hand, drives wealth, prosperity and mental health away. It also takes a toll on your immunity and overall well-being. You can’ t be rich or successful if you are spending money and time to get your health fixed. Shame is a painful emotion, as you feel inferior about yourself. How do you expect to excel when you don’ t think you are capable or deserving of succeeding. The lesser you feel about yourself, the more you spend on yourself. That doesn’ t sound like success at all.
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CHANGING YOUR MONEY MINDSET
Rule 1
Stay Away From Debts Debts are the worst thing one can have as it prevents your financial plans to grow. Hence rather than going for mindless expenditures through credit cards, make sure you use your debit cards more. Even with a pay raise, debts do affect a family income in many ways.
Rule 2
Simplify And Make Realistic Monetary Goals Do not make material gains and possessions as your long term goal. A prosperous stress free present and a social and financial security for you and your family’ s future should be the goal for life. Owning houses, cars are part of this goal.
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