Becoming rich is the dream of many. However, when I ask people what they could do to be more wealthy they either say that they just need to get lucky or that they need to work harder. According to millionaires who shared their secrets about managing money, none of these is true.
Growing rich starts with thinking like the rich first, changing a few habits and finally, to welcome the opportunities that show up once your mindset is in place. In short, becoming wealthier is just about spending less and earning more, though, if it is that easy why do so many people struggle with it? Keep these two lessons in mind from money magnets and you will see that it is easier than you think.
Lesson #1: Your Thoughts Are The Only Limit
When we grew up, we have inherited a myriad of behavioral patterns from our family and our direct environment and the way we think about money was definitely one of them. The beliefs we take up are so engraved in our minds that they form a natural part of our everyday life so it becomes difficult to spot them.
If your parents struggled to come up in life when you were young, you might unconsciously believe that money is the cause of stress and you will repel any chance that could earn you more. If your parents used to fight over money matters or had gone through a divorce that was financially tough, you can easily take up a belief that tells money is the root of conflicts and so you might give up your wealth for your partner or become financially dependent on them.
Take an overall view on your life and try to notice patterns around money. Is it that you earn it but you are unable to keep it? Is it that you feel it is never enough? Do you feel guilty when you earn or spend money? Where do these beliefs come from? Awareness is the first step to change so discovering the root of these thoughts will help you to overcome them.
Lesson #2: If You Don’t Form Your Habits, Your Habits Will Form You
Your education about money doesn’t worth a dime if it is not implemented in practice. Knowing how to handle your finances doesn’t require an academic degree, just a few good habits that you stick to every day.
The number one advice from the wealthy is to never keep your money in one place. If you don’t know what you spend that money for, it will be really hard to control it. Divide your income into buckets of each area of your life starting from going out and having fun, through your dream bucket all the way to the one you use for educating yourself. After all, growing yourself is the best investment you can ever make.
Don’t be afraid to dream big: hang out a picture of that new car or the travel destination you daydream about on your wall so that it reminds you of the fact that money is not the end goal but the tool that gets you there. Now that you are clear about your expectations, book some time in your calendar weekly and list down every possible way you could spend 10% less and earn 10% more than you do now. You will see that possibilities show up once you are open to discovering them!