Seven ideas worth exploring
“Let’s say you are struggling financially. It could be stress about retiring, stress about your next bill, fear of losing your job, or anything else.
What can you do to fix this? Einstein made the answer so simple when he said: We cannot solve our problems with the same thinking we used when we created them.
To succeed, we have to change. Not the world around us. Not our wallet. Not our job. We must change our thinking.”
— Rich Dad
1. Limited Thinking
A lady told me she couldn’t leave the state of Maryland (even though she hated living there) because it was too expensive to move.
Meanwhile, I had no job and minimal income, so I moved up North from the South without a place to live. Then, I moved back to the South and made three more moves afterward.
When she told me she couldn’t move because it was too expensive, I was confused.
My philosophy is that if you want something bad enough, you do what’s necessary to make it happen. People move constantly with zero to few resources; instead of moving, she opts for self-imposed limitations.
Limited thinking will keep you from elevating your money 99% of the time. If you don’t expand your thinking, your financial outcomes will remain stifled.
Always ask yourself, how can I make this happen, how can I make this work, and how can I improve my financial situation? And keep experimenting with action-orientated ideas until you land on a successful one.
2. There Is More Than Enough Vs. There Is Lack
“If you have, I don’t have.”
This mentality exists for many who forget that abundance can be an experience for everyone.
People who are angry at the rich for becoming richer, paying fewer taxes, and living the “good life” forget that they could have the same experience if they apply themselves.
Remember, if one person can experience financial wealth, there is no reason why you can’t. The roadmap for financial success is available to everyone; infinite knowledge is available to explore and apply to create lucrative financial outcomes for yourself.
Leverage the power of living in the information age.
“I can’t raise my income.”
Well, why not? What’s preventing you from increasing your income is likely a lack of knowledge, effort, and belief.
It’s more comfortable to accept what you’re given and to stay there than to be grateful for what you’re given but to elevate and aim for more with decisive action.
3. Live Within Your Means Vs. Live Above Your Means
“We cannot solve our problems with the same thinking we used when we created them.”
If you live paycheck to paycheck, are deluged with debt, and are struggling to make ends meet, the first question you must ask yourself is, are you living above or within your means?
Many people might not think they live “large,” but their budgets are too large for their current income.
Living within your means is the first requirement to build wealth, or you will never have any.
4. Self-Education
I have a long way to go in my financial journey (which will never end), but the most significant catalyst for my financial growth is self-education: mentorship, coaching, conferences, and books (more than anything else).
The more you self-educate, the more you challenge your current level of thinking. The more you challenge your current level of thinking, the more likely you are to adopt behaviors, habits, and beliefs that will elevate your financial outcomes.
People who read a lot constantly change, elevate, and transform their lives.
How much high-quality and productive content and knowledge are you digesting versus low-quality and unproductive content and knowledge?
5. Exposure
People who hang around broke people all the time will likely be broke themselves, while people who hang around wealthy people all the time will likely eventually elevate their financial outcomes.
As a kid, my father introduced me to millionaires and billionaires; this exposure expanded my thinking, goals, and desires.
Expose yourself to people and opportunities outside of your comfort zone so you can grow and produce ten times better outcomes than you imagined.
Spend most of your time around people you want to emulate and challenge
6. Minimalism over Materialism
If you walk into someone’s home, car, office, or hotel room, you’ll likely see excessive items, and that person will likely be in debt.
It’s more common to choose materialism over minimalism. The cons of embracing a materialistic lifestyle is you end up wasting your money on things instead of focusing on things and experiences that offer genuine value to your life.
Minimalists don’t necessarily spend less, though many do; they focus on more intentional purchases, which help them live debt free, grow their wealth faster, and decrease the amount of physical, mental, and emotional stress that comes along with owning a bunch of sh*t.
There are aspects of minimalism worth embodying. If people focused on more intentional purchases, they would likely have more wealth in their bank accounts.
7. You Can’t Afford to NOT Invest
“I’m just trying to make it.”
“I can’t afford to invest.”
A few times in my life, I felt I couldn’t afford to invest. Sometimes, I paused and prioritized other things, but I knew this was wrong. Any time we de-prioritize investing, whether in the stock market or other asset forms, we are inhibiting the growth and development of our bank accounts.
Saving won’t do sh*t for you. You must invest and acquire assets to produce wealth. Focus on investing at all costs. Pay yourself first, then figure out how to pay your bills.
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This article is for informational purposes only. It should not be considered Financial or Legal Advice. Not all information will be accurate. Consult a financial professional before making any significant financial decisions.