Eight Habits Guaranteed To Make You More Money
Building personal wealth is a subject many of us are conflicted about. We want to make money, yet we feel money is evil. If you truly want to achieve financial independence, here are eight habits you should adopt immediately.
Money is frequently misunderstood. Some of us view acquiring wealth as the ultimate goal in life, while others condemn it as the root of all evil in the world.
The wealthy are frequently looked at as scheming, selfish and greedy people at the top of the heap, who couldn’t care less about others as long as the money keeps rolling in. It’s truly an enigma in addition to being self-defeating, because most people dream about how much better their lives would be if they had more money.
You need a certain amount of money to be truly free to pursue your dreams. Being financially independent gives you options to seek the life pursuits you consider most important.
Here are some habits you can adopt today to start making more money.
Change Your Current Process
If your current job or business model isn’t getting you the returns you want, maybe the answer is to try a different approach. Simply working harder at an inefficient strategy won’t get you anywhere.
Be prepared to do something radically different with your life if you want to earn a lot of money. Stop defining yourself by your job.
Wealth Isn’t the Ultimate
Being wealthy is awesome. In most instances, it reduces a lot of stress most people carry all of their lives.
But wealth is a means to an end. It allows you to do the things you’ve always wanted to do – travel, build a family and pursue a passion project or anything else that might be on your bucket list.
Don’t get too attached to your wealth – make sure you own the wealth and it doesn’t own you.
Prioritize Income-building Tasks
Think of all of the things you do in a typical workday. Now try to analyze how many of those things directly contribute to building wealth for you.
For example, if you’re spending more time answering emails than you are coming up with new product ideas, things need to change.
Make sure your day at work is focused on wealth building tasks. Everything else can come after.
Use the Pareto principle to determine the 20 percent of your actions that produce 8o percent of your income-building results.
Value Your Time
As a human being, the most precious, non-renewable currency you have is time. You only live once.
Stop letting external stimuli and unwanted interactions take up too much of your time. You might have to distance yourself from a few people and situations, but the payoff will be worth it.
Say No More
Being comfortable with saying no is one of the most important habits you can develop as an entrepreneur. You’re not always going to agree with everyone.
If there’s a product idea or pitch you don’t like, just say no. If you’d rather cuddle up in your bed with a good book instead of going to a birthday party, just say no to the invitation.
Build a Productive Community
One of the biggest secrets to becoming wealthy is to surround yourself with other wealthy, motivated people.
When you’re building a business, you can’t surround yourself with people who are constantly bringing you down.
Having a network of driven, positive individuals will help you tremendously in your professional and personal life.
Stop Making Excuses
The ancient Toltecs of Mexico had a concept they called “ruthless self-love.” It can be described as the practice of loving yourself so much you refuse to let excuses get in your way.
You don’t coddle yourself or blame external circumstances when something bad happens You take responsibility, show up for work and get the job done.
Reframe Your Self-Talk
You’re constantly talking to yourself. The little snippets of internal dialogue that happen throughout the day have a direct impact on your attitude and productivity.
When you reflect upon your life, don’t focus on the failures and cast yourself as the central character of some Greek tragedy. Instead, think of yourself as the hero in your own movie.
If your life were starting now, what would the hero do? Act accordingly.
Once you understand how money works, you’ll find it easy to build a level of wealth you thought was impossible. It’s just a matter of adapting the right mindsets and behaviors. Use the list above to guide you in your journey to untold riches and the life of your dreams.
Ninety-five % of the learning by children about finances is done at home. With this in mind, it’s very important for parents to be intentional in guiding and nurturing their children in this area. It can be hard to know what or when is the right time to bring up the subject of specific financial topics.
This infographic will give you some ideas on what and when to tell your children. It also gives ideas for games and exercise they can use during this educational process.