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8 Ways of Thinking To Make You Become Rich

8 Ways of Thinking To Make You Become Rich

You may not know this, but your thoughts can affect your life. Thoughts are things. Scientists have measured vibrations of people’s thoughts and emotions, and they have found that positive, happy thoughts like love and appreciation vibrate very quickly. However, thoughts like fear, frustration, and envy vibrate very slowly. The phenomenon called the Law of Attraction explains the connection between your thoughts and your life – even your financial situation. In order to become rich, you must first be aware of the thoughts you have about money. If you find that you have any negative thoughts, you need to change them ASAP if you want to become rich. Here are 8 ways you can do that.

1. Believe you are worthy.

Many people in our culture have low self-esteem. We are constantly bombarded with messages about how we are “not good enough.” Whether you compare your beauty to super models or your bank account to Oprah’s, you need to believe that you genuinely have something to offer the world. You have a special gift and talent that will help you become rich. Rich people don’t have a problem promoting themselves, their services, or their business. That is because they believe they are worthy. You need to think that too.

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2. Believe it’s possible.

How many times did you hear your parents say things like, “Money doesn’t grow on trees.” Or, “Do you think I’m made of money?” Many of us have been negatively programmed to think that money is scarce. It is not. There is plenty of money out there for the taking. You just need to believe that deserve your “piece of the pie.” Anything is possible. But you need to believe that before it happens.

3. Appreciate what you already have.

If you sit around thinking, “I don’t like my house, I wish I had a bigger one.” Or, “I can’t wait to get a new car because I’m embarrassed to drive this one,” you are sending out negative vibrations with your thoughts. According to the Law of Attraction, negative, slow-moving thoughts will not create anything positive. Instead, you need to love your house or your car. Or simply be grateful that you have a roof over your head, a bed to sleep in, or food on your table. The more you give appreciation to what you already have, the more likely it will be that you will be able to acquire more.

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4. Be happy for rich people.

Sometimes people hear negative statements about rich people. Do any of these sound familiar: “Rich people are snobs” or “Rich people aren’t honest” or “Rich people are selfish.” If you heard this a lot growing up, then your subconscious mind is programmed with negative thinking about rich people. And your subconscious probably won’t let you become rich because you certainly don’t want to be a “snob,” “dishonest,” or “selfish.” Instead, realize that many rich people are very good human beings. Believe they deserve what they have. Bless them, and say a ‘thank you’ in advance for becoming rich yourself.

5. Use affirmations or vision boards.

Writing out positive statements (affirmations) and repeating them over and over in your mind helps re-program your brain. If you found in #4 that you think rich people are snobs, then repeat an affirmation such as, “Rich people are generous, kind, and loving people. I am appreciative that I will be one of them someday.” Vision boards are helpful too. Get a poster board and cut out words and photos of things you want. It could be a new car, a big house, a private jet, or your own yacht. Whatever feels good and gets you excited is appropriate to put on the board. Use your affirmations and your vision board together for maximum results.

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6. Love money.

I’ve heard people say, “I hate money!” And my jaw always drops to the floor. How can you hate money? Well, the reason they hate money is because they don’t have any. That doesn’t mean that they really HATE money. They just hate the LACK of money. So you need to catch yourself if you keep saying negative things about money. Turn them around and say “I love money! Money is my friend! It brings me great joy!” The more that you put the positive vibrations of love towards the subject of money, the more you will acquire it.

7. Be happy paying your bills.

I’m sure you have had a pit in your stomach before when you are paying bills. Most people have. That is because their focus is on the negative. All they think about is how much money is going out, not coming in. But you need to reframe that. Be happy when you pay your bills. Because guess what? That means that you actually have the money to pay them! If you weren’t paying them, that would mean you don’t have any money. So be grateful for having the money to pay out. After all, it does provide you with a place to live, a car to drive, and food on your table. That’s a good thing!

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8. Commit to being rich.

Finally, you just need to decide to be rich! Don’t take no for an answer! Don’t give up! In order to accomplish anything in life, you need to be committed. You can’t simply treat “getting rich” as a hobby, or something that you’ll just try out and see what happens. It doesn’t work that way. Rich people are dedicated to doing whatever it takes to make money and keep it! You need to do the same. Commit to your goal of being rich, and it will be yours.

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Carol Morgan

Dr. Carol Morgan is the owner of HerSideHisSide.com, a communication professor, dating & relationship coach, TV personality, speaker, and author.

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Last Updated on June 6, 2019

The Average Retirement Savings and How to Save Wisely

The Average Retirement Savings and How to Save Wisely

Are you on track for retirement?

If not, don’t worry, I’m not sure either. I save each month and hope for the best.

Fortunately, I’m at an age where most people don’t save so I’m ahead of the curve.

But, what if you aren’t in your 20s? What if you’re near retirement and are looking to gauge where you stand?

If so, keep reading. Here’s how to prepare for retirement and save wisely during the process.

What Does the Average American Have Saved for Retirement?

Saving for retirement is tricky.

Tell someone straight out of college to save $10k a year for retirement and it’ll be next to impossible.

Make the same request to someone decades older and they’d be more likely to be able to save this amount. But, a 20-year old college student can be “financially ahead” of someone saving more than them. Why?

Age matters in your financial journey. The younger you are, the more time you have to save and put compound interest to work. As you get older and have more saving power, you’d have less time to put compound interest to work.

Here are the average savings Americans hold by age bracket:

20’s – $16,000

During this stage, most people are paying loans and moving up the corporate ladder. Your best bet during this stage is to focus on eliminating debt and increasing your income. Don’t focus only on getting a high-paying job neither.

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Instead, focus on learning via Podcasts, reading books, and taking specialized courses. Doing this will make you more valuable and give you more career options.

30’s – $45,000

At this stage, you’ve hopefully escaped your entry-level salary and work at a career you enjoy. Your earning power has increased but you now have more obligations. For example, marriage, kids, and a mortgage.

Set a plan to pay off all your debt and focus on eliminating unnecessary expenses. Leverage financial tools like Personal Capital to ensure you’re on track for retirement.

40’s – $63,000

This is the stage where you’re at the prime of your career. Top financial institutions recommend you have at least 2 to 4 times your salary saved up. If you’re falling behind, start maxing out your 401K and Roth IRA accounts.

50’s – $115,000

During your fifties, you’re close to retirement but still, have time to save. You may be helping your kids pay college tuition and other expenses. Since you’re at the peak of your earning power, max out all your retirement accounts.

60’s – $172,000

By this point, you should have about eight times your salary saved up. If not, you’ll depend primarily on social security benefits averaging $1400 per month. Max out all your retirement options as much as possible before retiring.

Ways to Save Money on a Tight Budget

The sad reality is that most Americans aren’t saving enough for retirement.

Even high-earning power isn’t enough to secure one’s financial future. You need to have the discipline to save for retirement while time is in your favor. Don’t wait for you to have a high salary to save, start with having a small budget.

First, get a clear picture of where you stand. Write down a list of “needs” and “wants.” For example, Netflix and Amazon Prime are “wants” and a “cell-phone” is a need.

Use tools like Personal Capital to analyze your spending patterns. Personal Capital allows you to add all your financial data in one place–making it a powerful option to gauge where you stand.

Once you know all your expenses, organize them from highest to lowest expense. When you can’t cut more expenses, call your service providers to negotiate a lower price. If you’re not good at negotiating, use services like Trimm to lower your monthly expenses.

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How to Save Money Each Month

By this point, you know the average amount of money you should have saved for retirement based on your age.

But, breaking this down into monthly goals can be challenging. Here are some rule of thumbs to follow:

Aim to contribute 10%–15% of your salary each paycheck. Review your progress each week.

Why so often? The reality is that life gets in our way and you will have many financial setbacks. Your goal isn’t to be perfect but to get back on track instead.

Reviewing your finances weekly lets you know where you stand with your retirement. This doesn’t have to be a long process either. All it takes is login in Personal Capital to view your net worth and check how much you have saved for retirement.

Turn saving into a game and aim to save more each month. It will get challenging but you’ll get creative and find more ways to save.

Top Money Saving Challenge Tips

To prepare for your financial future and not be another statistic you need to be different.

How?

By adopting new habits that’ll help you become a saving machine. Here are some ways you can save more:

Automatically Contribute Towards Retirement

If you’re working for a company, you can automatically contribute towards your 401k. If you’re not currently contributing more than 10%, make this your goal. Contribute 1% more today and automatically increase this amount a year from now.

Odds are that you’re not going to be negatively affected by contributing 1% more. Many times we spend our money on things we don’t need. Contributing more towards retirement is a great way to secure your financial future.

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Use the Right Tools to Know Where You Stand

Once you’re contributing more towards your retirement accounts, gauge your progress. Make use of finance tracking apps to help you view the big picture of your retirement.

When I’d first signed up for the app Personal Capital, I didn’t know I had a negative net worth. Despite saving thousands of dollars, my debt brought my net worth to the negative. Knowing this motivated me to save more and spend less.

Now, I have a positive net worth. But, it was because I was able to view the big picture using the app. Find out what your net worth is using a finance tracking app and you may surprise yourself.

Bring in Experts to View Your Blind Spots

If you have too little or too much money saved, you should consider hiring financial experts.

Why?

You may need someone to hold you accountable to help you reach your financial goals. Or, you may need help managing your money as effective as possible.

Regardless of the reason, getting help may help improve your financial situation.

Before you hire an expert, find out which areas you need help the most. For example, if you’re constantly overspending, find a debt counselor. If you’re struggling with choosing the best investment options, hire a financial advisor.

Speed up Your Retirement Contribution

After learning how to manage your money well, the next best thing is to earn a higher income.

You’re capped at how much you can save but not much you can earn. Even if your employer isn’t giving you a promotion, you can still take charge of your financial future. How?

By starting a side-business.

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This will be something you’d work on after you’ve finished your day job. Once you start earning income from your side-business, you’ll be financially better off.

The best part is the more work you put into your side-business,[1] the more potential it has to earn more money.

So start a side-business in an area you’re familiar with. For example, if you enjoy writing, do freelance writing for small e-commerce businesses.

Once you’re earning a higher income, you can contribute more towards your retirement. Don’t wait for the right opportunity to secure your financial future, create one.

Reach Financial Freedom with Confidence

What if you were able to retire tomorrow with no problem, all because you’d have enough money saved up and little to no debt left to pay off? How would you feel?

My guess is that you’d feel happy and relieved.

Most Americans are falling behind their retirement goals for many reasons. They’re not prepared, they carry bad money-habits and are thinking short-term.

For you to retire successfully, you need to work backward and adopt better habits. Contribute more towards your 401K and focus on growing your income.

If you do, you’ll save money and pay debt faster.

Don’t beat yourself up if you’re behind your retirement goals. Take the first step today towards a brighter financial future. Isn’t retirement worth the hard work and sacrifice to be at peace?

Featured photo credit: Huy Phan via unsplash.com

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