Creating a wealth mindset is a tool. Your mindset is a tool that you use to make better decisions and create long-lasting wealth. Why do you want wealth? There are many reasons that people want more resources:
If I were to poll 100 people, I might get 10 categories of answers as to why they want to be wealthy. One of those answers might be to have more options or to quit working for someone else - both super good reasons. One reason is very powerful though… to create a legacy.
Wealth isn’t just about spreadsheets and net worth. Wealth is a mindset and a way of living. Wealth is all about being generous and thinking outside of immediate and personal need to the needs and benefit to generations. There is little more satisfying than knowing your actions will impact your kids, their kids, and possibly their kids. That’s a lot of kids to share your legacy.
Creating a legacy with your wealth...
Making the decision to shift to a wealth mindset is the first step of many towards building a wealth legacy. Taking action is the second step. Both steps are very important but maybe not the most important. The most important step towards a long-lasting wealth mindset is not allowing a setback to undo all you have accomplished.
Sometimes making a change is easier when everything is going right. Let’s use weight management as an example: Everything is easy as long as the numbers on the scale keep going down and you can get out an exercise regularly... then BOOM! Life throws you a curveball. You twist your ankle and end up in a cast for six weeks. Suddenly, your success isn’t as easy. Being sedentary and feeling blue, the cakes are calling and there’s no way to burn up the calories. That setback can undo your weight loss success if you don’t modify your thoughts and actions.
You may find that you are doing all the rights things....
“What you think about, you bring about.” - Bob Proctor
It’s true that energy flows to the things you think about but thinking about things isn’t going to make them happen. Having a wealth mindset isn’t going to make money bags drop from the sky into your lap. Having a great attitude about wealth is the first step. The steps that come after lead to wealth appearing.
A wealth mindset isn’t just about attitude, it’s about behavior.
Moving from hoping things can change, to believing they can, to doing something about change is the flow that creates the wealth. How you live day-to-day creates the behaviors that take the mindset into practical experience. Let’s look at a few behaviors that shift a lifestyle from lack to wealth:
Saving- Saving is a wealth mindset behavior. Saving indicates that you know that living for tomorrow is equally important to living for today.
Giving- Giving is a wealth mindset behavior. Helping those...
Isn’t it funny how being unable to have something makes you want it more? If you are dieting, that donut seems to be the only thing between you and eternal happiness. If you are broke, nothing in your closet fits or looks good and shopping - being out of the question - is all you want to do. In many cases, not being able to be, do, or have something seems to cause pain and suffering. Even if it never has in the past.
In the same way, living within your means can cause fear and anxiety to well up inside you. Imagining that you are unable to have whatever you want, whenever you want feels like the ultimate denial. Like a punishment.
Living within your means shouldn’t feel stifling or like denial. It should feel:
These are all amazing things to be celebrated. Living within your means isn’t about lack, it’s about freedom!
It’s hard to believe that living within your means is...
There are “laws” of the universe that don’t make sense in the natural. Gravity is a law that makes sense when you are within Earth’s atmosphere but doesn’t seem to apply in space. Another law is generosity - how giving things away actually creates more. It might not make sense in the context of living paycheck to paycheck but being generous no matter how much or how little you have creates wealth.
Generosity creates a synergy that boomerangs and comes back to you in a compounding way. What you put out truly comes back.
Let’s see how:
Generosity creates a kind heart- Giving to others creates kindness between the giver and the receiver. Knowing you are making an impact on someone else creates a warmth and the sort of pride that isn’t selfish - it’s selfless.
Generosity opens eyes- Stingy people filter the world through a lens of lack. They see people in need as, well, needy. They see those who have less as...
A wealth mindset isn’t just about money. As a matter-of-fact, most wealth has nothing to do with money at all. Money is a by-product of a wealth mindset. The wealth mindset encompasses every aspect of life - health, relationships, and your overall attitude about people in general.
Let’s look at some examples of wealth that aren’t money related:
A loving family- Having a family who loves you and chooses to spend time with you when there are a million other options is a true testimony to the wealth you have created.
A healthy, functioning body- If you are fit, have excellent mobility, and enjoy an outdoor lifestyle, you are wealthy. Making the choices to eat well, exercise regularly, and be in nature are all examples of making good investments. Just like your money, making smart moves with your health reaps great returns.
High-functioning relationships- If you have friends you can count on and have healthy relationships with people in your...
A wealth mindset is the term used to describe a positive relationship with money. A wealth mindset absolutely includes a clear understanding of your family’s budget and spending habits, but it is much more than profit and loss. A wealth mindset translates to other areas of life, including, but not limited to:
Before we look at the wealth mindset, let’s look at the alter ego of the wealth mindset - the poverty mindset. The poverty mindset comes from a place of lack. A poverty mindset pits people against one another because there is a sense of not enough or competition. A poverty mindset sees others as a threat or out to get what is yours. People coming from a poverty mindset are busy hoarding anything they have - whether it be money, resources, love, and more - trying to keep themselves from facing dire consequences.
A wealth mindset comes from a place of inclusion and endless resources. A...
There is a vast difference between two people when one has a wealth mindset as compared to a limited “poor” mindset. A wealth mindset is one of abundance. It doesn’t mean just money either. It means riches physically and spiritually, too. A wealth mindset focuses on being physically healthy, forming good relationships with others and yourself, and on being healthy financially today and tomorrow. But you may wonder, “What does this have to do with my business?”
When you have a wealth mindset, you start to realize that in your business you have assets and investments more than you have expenses. For example, if you have a business, your website is an asset. Your email list is an asset. Each paid product you offer is an asset. All these assets will affect your bottom line for months and years to come.
As an individual, your investments that you focus on now will be paying off tomorrow. Investing in a 401K, an IRA, or other investments that are designed to...