Money. It can seem like everyone has more of it than you do. Money can seem like a girl you have a crush on who wants nothing to do with you. It’s something that can leave you more stressed than any other relationship in your life. You may like to pretend that money doesn’t matter but let’s face it, in today’s world we need it. Not only to survive but we need it to thrive. So how do we get more of it. Well it all starts with your money mindset. And here are 4 simple ways for you to shift your money mindset in the direction of building financial freedom.
1) Watch What You Say & Think About Money
Most people are unaware of what they say and think about money. So you may be unintentionally shooting yourself in the foot with your chance at financial freedom.
Here are some of the things poor people typically say and think about money:
* “I have to work really, really hard for money.”
* “There’s just not enough money for everything I need.”
* “I feel buried in debt.”
* “Rich people are greedy and selfish.”
On the other hand, rich people typically say and think things like:
* “There’s plenty of money to go around for everyone.”
* “I will find ways to make all the money I want.”
* “Opportunities for passive income streams are easy to find.”
* “My money allows me a great lifestyle and a means to help others.”
See the difference? A major difference too is that the rich people not only say these different words about money…they BELIEVE them. So this is about more than just affirmations. This is about getting those type of positive money statement to actually feel possible for your future. And newly rich people were able to feel this way before they had much money.
And that leads to what you should do next…
2) Make Two Money Lists
You should make two lists about the goodness money will bring to your life.
1) A list of all the experiences and stuff money will allow you to add to your life
2) A list of the help you will provide to others as a result of having a lot of money.
Have fun with these lists and realize that anything you write on them can become part of your real life…if you just build on your belief in it really happening while regularly taking action toward it.
3) Lower Your ‘Latte Factor’
‘Latte Factor’ is a term coined by David Bach, the author of “Automatic Millionaire”. It’s a simple concept where you track your casual spending on a normal day. Ex, how much you spend on lattes, snacks or whatever else. Because, most people have spending habits on random things they don’t even pay attention to. And since they don’t pay attention, it adds up a lot over time. So by becoming aware of your daily latte factor, you can gain more awareness of where your current money and income goes.
Pick one of your more average days and just keep track of every penny you spend. So let’s say, you track it and realize that between breakfast, lunch and snacks…you spend about $25 each day that you work. Well if you started bringing your food to work and saving that $25, that’d be $500 extra per month. (Considering you work 5 days a week.) See how quickly that adds up. Wouldn’t it be helpful to have an extra $500 a month without even changing your income?!
4) Play the Money Game to Win
Mastering your money mindset is about learning to respect your money more. And then being more responsible with it so you can have a great future and retirement. Because you can end up with financial freedom with the income you have now if you play the money game to win. But most people play the money game to just ‘not lose’. It boils down to this simple question…
Do you want 10 years to go by and you’re in a similar financial situation to what you are right now? Or do you want to be a millionaire in 10 years, possibly sooner?! The choice really is yours. You will also gain more respect for yourself as you head in this direction.
You can master you money mindset and build your financial freedom starting right now. You merely have to decide to go that route. Let me paint a picture for you, Let’s say you were obese, and you didn’t realize how much fat you put on, until years went by. Then you felt really shitty at one point, so you went to the doctor. They had you take your shirt off and you got on the scale and you’re like, ‘Oh my god, that’s not good.’ Then the doctor tells you how bad your health is and you think, ‘that’s really not good.’ So in this moment you have a big decision to make for your future. You can continue with the reckless lifestyle you’ve been on. And you’ll continue to feel shitty and die many years earlier then you otherwise would. Or you can take responsibility for yourself, eat less, put in effort to lose weight and get your health on track. Then you’ll gain respect for your relationship with food and understand how that will greatly impact your future.
Simply put, you can decide to make your life more easy or more painful. Cause you know deep down that you are the one who controls what you eat and how much. It is not the doctors responsibility for you to establish and maintain good health. Just like it’s not your boss or the banks responsibility to help you establish and maintain wealth or lots of money. And with the physical health, over time you’ll realize, ‘Oh I feel a lot better when I’m consciously taking care of myself.’ And it’s the same with your finances. It is truly an empowering position to put yourself in. And wouldn’t you rather end up retiring with a million or more in the bank? Then you’ll be comfortable and set for the rest of your life? Instead of never being able to get ahead and never being able to retire. Where you’re always just squeaking by and living off mac and cheese and peanut butter and jelly…nobody wants that.