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7 Habits You Must Build To Be Wealthy

7 Habits You Must Build To Be Wealthy

So, you want to be wealthy? That is definitely on the agenda for you. And yet, you are not quite there, are you? And you keep wondering when your time will come or maybe, you are beginning to think, you just won’t get there. Are you lacking something? Were you not born into the right family? Is there some trait you are just not aware of, yet? Why not you?

It gets like this at times, doesn’t it? The voice in your head gets a little louder and you begin to despair and wonder when your time is going to come. You are following the rules or so you think but maybe you are missing some of the habits. They seem too soft; they seem too unnecessary because you are looking for something solid to hang onto. A tip, a trick, a technique, a business hack that will turn everything around when you implement it but the truth is, my friend, that most of your success is going to come as a result of a few key habits that you implement and here is a starting point for you, if getting rich is to be a certainty in your life.

1. You Must Be Consistent

Too many wannabe wealthy people think that things have to work immediately, within three seconds, if they are ever going to work. So, they learn a new way to promote their business, they implement it for the said three seconds (a slight exaggeration!) and then they wait for the riches to pour in and then, nothing happens so they stop and change direction or quit.

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Getting rich happens when you stay on path for a long period of time. It happens when you realise that it is the day in, day out consistent following of a plan that gets you to your goal. Regardless of what the media may say, there are no overnight successes, there is only someone who consistently put one foot in front of the other daily, with eyes focused on the goal for as long as it took to get where they set out to go.You can be that person, too.

2. You must have boundaries

How much of your time is currently spent satisfying the needs and desires of the people in your world who do not have the same mission as you? How much time do you spend (and I must be blunt) people-pleasing? So much time is spent by the vast majority of people, keeping everyone happy. And it is usually at the expense of their own dreams, their own calling and mission. If you do want to be wealthy then you need to build the habit of controlling the access that other people have to you and this matters whether they are loved ones or customers or whoever.

Of course, there will be varying levels of access with a few key intimate family or friend relationships but overall, understand you are on a mission and therefore, you cannot spend all your time trying to be liked. Your goal is to serve as many people as possible, not please them. So, be a person with boundaries.

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3. You must get around like-minded people

How on earth are you going to create wealth and get rich if you and everyone around you is more likely to think that ‘lack’ is a normal way of life? Yes, you may have been brought up in an environment where most people lived a bland life. Yes, they may have assumed that they would get a job and stay in that job, just about getting by, until they died. However, if you have decided that you are going to get wealthy, then it is time to seek out a new crowd.

You become like the people you hang out with. So, again, in addition to having boundaries when it comes to certain people, dare to uplevel the relationships in your life. Choose to get around people who think it is normal to succeed. Let their thinking seep into your mind and heart and let it become your norm, too. You can be, do and have whatever you want and it helps to be surrounded by others who believe the same.

4. You must invest in your personal growth

Do you understand that you are your greatest asset? Whatever you invest in yourself, is not an expense, it literally is an asset and will continually produce results for you, time and time again. The books you read, the courses you attend, the coaching you get, all have the ability to accelerate your speed to becoming wealthy. Do not be one of those people who think that every teacher, coach, mentor out there is just trying to scam you. That is a poverty mindset. Every learning experience is just that, a learning experience. It is you, the student, who chooses what you take out of the experience. Implement Kaizen – the practice of continuous improvement.

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5. You must get comfortable with being uncomfortable

If it were possible to be wealthy while doing only the things that come easy and are comfortable to you, then you would already be rich. Form a habit of expanding yourself. Form a habit of stretching yourself by taking on more things that you normally wouldn’t do. Of course, be wise about this but do not be content to remain the same, unchallenged and unprovoked. It gets you nowhere fast. Instead, choose to do the things that you avoid. Choose to try a whole lot of new things in order to see what will actually work for you.Get comfortable with the uncomfortable.

6. You must get a journal

Yes, I am prejudiced about this. I think everyone should have a written journal – a place to record one’s thoughts, one’s desires, one’s crazy feelings and more. A safe place to peel off the layers and discover what is really going on beneath the hood. Yes, I do think you must have one. And more than that, you must get into the habit of writing in it daily, preferably during a form of quiet time first thing in the morning. I am being prescriptive, I know and yet, it will help you accelerate your personal growth. The daily routine of writing in the journal will keep you clear, keep you aware and keep you on track. The main key here is to raise your awareness. You cannot get rich and wealthy while living a passive, ‘whatever comes’, life. Get Deliberate.

7. You must believe you can do only what you love

A big obstacle for a lot of wannabe wealthy people is the thought that the only pathway to wealth is to be someone they don’t like, do things they don’t want to do and yes, they get to have it all but the cost seems too high. And, of course, it is. And yet, most of the people who do create vast amounts of wealth are not doing it while doing things they hate to do. There may be areas of their business that they dislike and mostly, they outsource those bits. Overall, those with true wealth enjoy their business and enjoy who they are. And for those who don’t, they tend to self-sabotage. We see this all the time in the media. To end this article, you must see that you always get what you expect to get, so if you expect wealth and getting rich to mean you must be someone you don’t like, you will not allow yourself to succeed.

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Why not choose to believe and take actions that align with who you want to be as a rich, wealthy person? Little by little, stop doing the things you do not enjoy and begin doing more of what you love.

Choose to create a life and a business you want, because you can.

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Rosemary Nonny Knight

Business & Life Strategist

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Last Updated on July 17, 2019

The Science of Setting Goals (And How It Affects Your Brain)

The Science of Setting Goals (And How It Affects Your Brain)

What happens in our heads when we set goals?

Apparently a lot more than you’d think.

Goal setting isn’t quite so simple as deciding on the things you’d like to accomplish and working towards them.

According to the research of psychologists, neurologists, and other scientists, setting a goal invests ourselves into the target as if we’d already accomplished it. That is, by setting something as a goal, however small or large, however near or far in the future, a part of our brain believes that desired outcome is an essential part of who we are – setting up the conditions that drive us to work towards the goals to fulfill the brain’s self-image.

Apparently, the brain cannot distinguish between things we want and things we have. Neurologically, then, our brains treat the failure to achieve our goal the same way as it treats the loss of a valued possession. And up until the moment, the goal is achieved, we have failed to achieve it, setting up a constant tension that the brain seeks to resolve.

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Ideally, this tension is resolved by driving us towards accomplishment. In many cases, though, the brain simply responds to the loss, causing us to feel fear, anxiety, even anguish, depending on the value of the as-yet-unattained goal.

Love, Loss, Dopamine, and Our Dreams

The brains functions are carried out by a stew of chemicals called neurotransmitters. You’ve probably heard of serotonin, which plays a key role in our emotional life – most of the effective anti-depressant medications on the market are serotonin reuptake inhibitors, meaning they regulate serotonin levels in the brain leading to more stable moods.

Somewhat less well-known is another neurotransmitter, dopamine. Among other things, dopamine acts as a motivator, creating a sensation of pleasure when the brain is stimulated by achievement. Dopamine is also involved in maintaining attention – some forms of ADHD are linked to irregular responses to dopamine.[1]

So dopamine plays a key role in keeping us focused on our goals and motivating us to attain them, rewarding our attention and achievement by elevating our mood. That is, we feel good when we work towards our goals.

Dopamine is related to wanting – to desire. The attainment of the object of our desire releases dopamine into our brains and we feel good. Conversely, the frustration of our desires starves us of dopamine, causing anxiety and fear.

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One of the greatest desires is romantic love – the long-lasting, “till death do us part” kind. It’s no surprise, then, that romantic love is sustained, at least in part, through the constant flow of dopamine released in the presence – real or imagined – of our true love. Loss of romantic love cuts off that supply of dopamine, which is why it feels like you’re dying – your brain responds by triggering all sorts of anxiety-related responses.

Herein lies obsession, as we go to ever-increasing lengths in search of that dopamine reward. Stalking specialists warn against any kind of contact with a stalker, positive or negative, because any response at all triggers that reward mechanism. If you let the phone ring 50 times and finally pick up on the 51st ring to tell your stalker off, your stalker gets his or her reward, and learns that all s/he has to do is wait for the phone to ring 51 times.

Romantic love isn’t the only kind of desire that can create this kind of dopamine addiction, though – as Captain Ahab (from Moby Dick) knew well, any suitably important goal can become an obsession once the mind has established ownership.

The Neurology of Ownership

Ownership turns out to be about a lot more than just legal rights. When we own something, we invest a part of ourselves into it – it becomes an extension of ourselves.

In a famous experiment at Cornell University, researchers gave students school logo coffee mugs, and then offered to trade them chocolate bars for the mugs. Very few were willing to make the trade, no matter how much they professed to like chocolate. Big deal, right? Maybe they just really liked those mugs![2]

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But when they reversed the experiment, handing out chocolate and then offering to trade mugs for the candy, they found that now, few students were all that interested in the mugs. Apparently the key thing about the mugs or the chocolate wasn’t whether students valued whatever they had in their possession, but simply that they had it in their possession.

This phenomenon is called the “endowment effect”. In a nutshell, the endowment effect occurs when we take ownership of an object (or idea, or person); in becoming “ours” it becomes integrated with our sense of identity, making us reluctant to part with it (losing it is seen as a loss, which triggers that dopamine shut-off I discussed above).

Interestingly, researchers have found that the endowment effect doesn’t require actual ownership or even possession to come into play. In fact, it’s enough to have a reasonable expectation of future possession for us to start thinking of something as a part of us – as jilted lovers, gambling losers, and 7-year olds denied a toy at the store have all experienced.

The Upshot for Goal-Setters

So what does all this mean for would-be achievers?

On one hand, it’s a warning against setting unreasonable goals. The bigger the potential for positive growth a goal has, the more anxiety and stress your brain is going to create around it’s non-achievement.

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It also suggests that the common wisdom to limit your goals to a small number of reasonable, attainable objectives is good advice. The more goals you have, the more ends your brain thinks it “owns” and therefore the more grief and fear the absence of those ends is going to cause you.

On a more positive note, the fact that the brain rewards our attentiveness by releasing dopamine means that our brain is working with us to direct us to achievement. Paying attention to your goals feels good, encouraging us to spend more time doing it. This may be why outcome visualization — a favorite technique of self-help gurus involving imagining yourself having completed your objectives — has such a poor track record in clinical studies. It effectively tricks our brain into rewarding us for achieving our goals even though we haven’t done it yet!

But ultimately, our brain wants us to achieve our goals, so that it’s a sense of who we are that can be fulfilled. And that’s pretty good news!

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Featured photo credit: Alexa Williams via unsplash.com

Reference

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