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5 Counterintuitive Money Mindset Facts

5 Counterintuitive Money Mindset Facts

Money is a tricky, slippery thing.

The funny thing is that, while everyone needs it and there’s more than enough to go around, money can be really elusive at times.  It can seem as if “enough” is a word that can never be paired with money…

…until you begin to look at things from a different perspective.

Turning Money Into A Science

Sciences are measurable. They’re quantifiable.

And while science isn’t always “easy,” there’s always a logic behind it, ready to be discovered….just like money matters.

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As it turns out, money isn’t really as elusive as we might think at first. You just have to know what it loves and needs to thrive in your life.

So Start Looking At Things From Money’s Point Of View

It really shouldn’t come as a surprise that, like all green things, money needs a certain type of environment in order to thrive.

And by that, I mean:

1. Money likes it when things stay fresh

Just like how mold and bacteria grow in stale environments (like my leftovers in the fridge), money becomes stagnant if it’s kept in one spot for too long.

Money longs for adventure; it longs to see new things. That’s called investment.

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If you’re only tucking your extra cash into a savings account for a rainy day (though, not a bad idea), you’re actually not going to get a lot in return. But if you’re investing it wisely and keeping it fresh, you’ll get a much bigger payoff…even if it takes a while for that to happen.

2. Money needs a specific purpose

Seriously, this is Money 101.

Have you ever noticed that, if there’s something you absolutely have to buy, money for that item is usually available? On the flip side, if you don’t have any specific use for that money, you’ll notice that there tends to be a lot less of it floating around.

Without a specific purpose in mind, money is easily lost. It’s something that has a lot to do with the human psychology of saving: we need to have a specific goal in order to really care about earning and achieving it.

3. Money needs a long-term goal

This is something that economists often talk about in really fancy words (often coupled with the term “projection” which, let’s face it, makes us all cringe).

But in everyday speech, money needs a long-term goal. One of the reasons we struggle with having money to spare is because we tend to think of very very short term solutions.

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For example, I really enjoy going to a coffee shop to get my morning java. Hilariously, it makes me feel wealthy to buy it. I say “hilariously” because there are two ways to think about it:

  1. $3.00/day is totally affordable. I am not going to get poor by spending that much on my daily coffee.
  2. After one year, I’ll have spent $1,095 on daily coffees…I totally will not get rich by spending that amount.

So if you want to see your dollars add up, get out that calculator and figure out the long-term effects of your short-term money decisions.

4. Money loves to find someone who loves it

Some of us heart-centered people shy away from boldly proclaiming that we want more money…but we shouldn’t.

Because the money’s out there, and I’m confident that there’s more than enough to go around.

You have to want it. You have to be intentional. If you don’t find a use for your money, it’ll find someone who will!

This doesn’t mean that you’re giving yourself permission to be a selfish, money-focused person. What I’m talking about is being honest about your goals and being sure that “making money” is on that list. It’s something that business owners do all the time.

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5. Money likes to be given away

In light of the last point, this one may seem contradictory.

Honestly, I can’t say exactly why this works, unless it’s some sort of universal karma…but the times when I’ve been consistent about giving money away (maybe a percentage of sales to a charity, a straight up donation, etc.) often coincide with times when my online launches and business revenue are maintaining healthy levels.

Let this serve as a reminder for all of us that money is a great tool that can help us live healthy, balanced lives.

So….what’s your money mindset?

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Last Updated on January 21, 2020

How to Develop a Millionaire Mindset in 6 Simple Steps

How to Develop a Millionaire Mindset in 6 Simple Steps

We all like to dream about being financially wealthy. For most people though, it remains a dream and nothing more. Why is that?

It’s because most people don’t set their mind to achieving that goal. They might not be happy in their current situation but they’re comfortable – and comfort is one of the biggest enemies of growth.

How do you go about developing that millionaire mindset? By following these simple steps:

1. Focus On What You Want – And Take It!

So many people are too timid to admit they want something and go for it. When there is something that you want to accomplish don’t think “I could never actually do that”, think “I could do that and I WILL do that”.

Millionaires play to win, not to avoid defeat.

This doesn’t mean to have to become a selfish jerk. What it means is becoming more assertive and honest with yourself. You don’t have to grab off other people. There is a big pot of unclaimed gold in the middle of the table — why shouldn’t you be the one to claim it? You deserve it!

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2. Become Goal-Orientated

It’s almost impossible to achieve anything if you don’t set firm goals. Only lottery winners become millionaires overnight. By setting yourself attainable goals, you will get there eventually. Don’t try to get rich quickly — get rich slowly.

Let’s take the idea of making your first million dollars and expand on what kind of goals you might set to get there. Let’s also say you’re starting at a break-even position – you’re making enough to get by with a few luxuries, but nothing more.

Your goal for the first year can be having $10,000 in the bank within a year. It won’t be easy but it is doable. Next, you need to figure out the steps you need to take to achieve that goal.

Always look at ways to make growth before cutbacks. With that in mind, you might want to see if you can negotiate a pay rise with your boss, or if there’s another job out there that will pay better. You might be comfortable in your old job but remember, comfort stunts growth.

You may also have other skills outside of your workplace that you can monetize to boost your bank balance. Maybe you can design websites for people, at a fee of course, or make alterations to clothes.

If this is still not enough to make the money you need to save $10,000 in a year, then it’s time to look at cutbacks. Do you have a bunch of old junk that someone else might love? Sell it! Do you really need to spend $10 on your lunch everyday when you could make your own for a fraction of the cost?

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If you are to become a millionaire, you need to start accumulating money.

Here’re some tips to help you: How to Become Goal Oriented and Achieve More in Life

3. Don’t Spend Your Money – Invest It

The reason you need to accumulate money is for step three. Millionaires tend to be frugal people, and that’s because they know the true value of money is in investing. Being your own boss goes hand-in-hand with becoming a millionaire. You’ll want to quit your regular job at some point.

Stop working for your money and make your money work for you.

Rather than buying yourself a new iPad, that $500 could be used to invest in the stock market. Find the right shares (more on that later), and that money could easily double within a year.

There’s not just the stock market — there’s also property, and your own education.

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4. Never Stop Learning

The best thing you can invest in is yourself.

Once most people leave the education system, they think their learning days are over. Well theirs might be, but yours shouldn’t be. Successful people continually learn and adapt.

Billionaire Warren Buffet estimates that he read at least 100 books on investing before he turned twenty. Most people never read another book after they’ve left school. Who would you rather be?

Learn everything you can about how economics works, how the stocks markets work, how they trend.

Learn new skills. If you have an interest in it, learn everything you can about it. You’d be surprised at how often, seemingly useless skills, can become extremely useful in the right situation.

Start developing the habit of learning continuously: How to Create a Habit of Continuous Learning for a Better You

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5. Think Big

While I advise to start off with small goals, you absolutely should have a big goal in mind. If you have a business idea, then that is your ultimate goal – to start that business and make a success of it. If you want to invest your way to millions of dollars and do little work other than research, then that is your big goal.

There is no shame in not achieving a big goal. If you run a business and aim to make $1 million profit in a year and “only” make $200,000, then you’re still significantly ahead of most people.

Aim for the stars, if you fail you’ll still be over the moon.

6. Enjoy the Attention

To be successful, you have to be willing to promote yourself and enjoy the attention to a certain extent. Now the attention doesn’t need to be on yourself, it could be on your brand, but attention definitely attracts money.

Never be embarrassed to get your name out there. That means finding a spotlight and being brave enough to step right up underneath it.

If you run a business, try contacting the local papers. You’d be surprised at how amenable they often are to running a story about you and your business, and it’s all free publicity.

Above all, remember: You control your own destiny. Push hard enough for anything and you’ll get it.

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Featured photo credit: Austin Distel via unsplash.com

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