If
you are like most of us, you have been exposed to negative talk about money
since you were a child. You heard things
like “money doesn’t grow on trees”, what do you think I am “”Rockerfella”” and
many more as listed below. All this
negative talk about money has created a resistance within you toward
money. It is now time to change your
relationship with money and only use positive self-talk about money and mostly
train your brain to think only positive thoughts about you and your money.
Get
rid of all the thoughts like the ones listed below, when you think about money
or your relationship with money.
- “What do you think I am, made of money?”
- “Money doesn't grow on trees.”
- “Money is the root of all evil.”
- “Filthy rich.”
“To become wealthy, you’ll need to surface, identify, root out, and replace
any negative or limiting beliefs you have about money.”
Have
any of these negative comments that you have heard throughout your life served
you or others. The negative talk around
money ends right now; your awareness now empowers you to build a positive and
beneficial relationship with money.
Your financial
comfort Zone is keeping you from your abundance
Just
as a thermostat combined with heating or cooling systems in your home regulates
the temperature in your home. Cooling the air down if the temperature goes
higher than requested or heating the air up if the temperature goes lower than
requested. Your financial thermostat may be keeping you right where your
beliefs and attitudes about money direct you. If your beliefs about money are
that being rich is bad, but being poor is no fun either, you’ll stay right in
the middle of the road. As much as you think you’d like to be financially independent,
you’ll continue the behaviors and habits that your financial thermostat is
dictating.
Identify Your
Financial Comfort Zone
Ignorance
is most certainly not bliss and it will never deliver you the financial success
that you desire. You need to take a very
deep and careful look at your awareness around money. Do you just spend money and act with and
around money based on your internal financial programming, thoughts, habits and
beliefs?
- What do you know about your current financial situation?
- How much debt do you have?
- How many assets do you own, what is their current value?
- How much do you spend daily, weekly, monthly?
- Do you have a budget?
- Are you avoiding facing up to any truths about money?
Once
you become aware of what drives you in relation to your money, you empower
yourself to correct any problem areas and adjust your comfort zone in relation
to your money.
Try
to assess your relationship with money by very bluntly and truthfully answering
the questions below:
What
do you find yourself doing if you get a small windfall, like a tax return or
sweepstakes? What about when you get a raise at work?
How
do you approach shopping and spending, with what attitude or expectation?
What
are your thoughts (or even fears) around saving, investing, spending, even
working?
After
answering these questions take time to asses your true relationship with
money. Identify those areas that are
keeping you away from living in the abundance that is your birth right. Decide
how you are going to introduce new habits and beliefs into your life, which
will allow you to enjoy abundance and revel in the magic of life.
“One of the first requirements of becoming wealthy is to make a conscious
decision to do so.”
Change Your Attitude toward money and you will Shift
Your Financial Comfort Zone
The
action needed to Change your thoughts, Habits, beliefs and talk around money
are no different to changing any other limiting factors, which are holding you
from your dreams. Face them head on, accept responsibility for them and be
willing to explore them, be open to finding solutions for correcting them and
then release them and replace them with an empowering “Money specific affirmation statements”, like the ones listed below:.
- Money comes easy and often, from multiple sources
- I am a money magnet and money works for me.
- Everyone is plotting to only do me good, and they enrich me with abundance
Do a Financial Assessment
The
thoughts, habits and beliefs that are keeping you from your financial bliss are
now out there for you to modify and change.
Now is the time for you to do a complete and honest assessment of your
current financial position.
This
process is designed to give you an overview of your current financial situation
and will get the ball rolling and make you aware of your financial status.
These guidelines, listed below, are designed to allow you to assess whether
further steps or resources are necessary to fully assess your position.
Become Conscious
About Your Money
To
fully understand your current financial position you must answer the questions
below How much money you’ll need saved up for retirement to
maintain your current lifestyle
- What is your net worth, or the difference between your total assets and total liabilities
- How much money do you have in savings
- What are your fixed and variable monthly expenses
- What is the total amount of your debt, you currently hold?
- How much do you pay each year on interest payments?
- Are you adequately insured
- What is your financial plan, how are you going to create fibnancial independence?
- What is your estate plan
Get Your Cash Flow
under Control
Unsecured
consumer debt and bankruptcies have been at an all-time high in recent years all
over the world. Many individuals and families are spending more than they make,
and credit is easy to secure. As a result, many are getting further away from
wealth and financial independence. What’s worse, much of that money goes
towards buying things that we don’t use, that take up space in our homes and
garages, and that require time and money to maintain. We often end up paying
much more than the initial price of the item because we pay interest on a
revolving credit card balance.
If
any of this sounds familiar, take some time to assess your spending habits. Is
your spending getting you closer to or further away from your financial goals?
Do you find yourself buying things that you really don’t need and perhaps can’t
afford? If so, take some time to create your plan for eliminating your consumer
debt.
Take Responsibility
for Your Financial Success
The
previous exercise we did around your relationship with money, has given you a
basic understanding of your financial position, now I want you to consider how
finances fit into your vision for your future.
When you visualize your ideal future, what do you envision yourself
doing, being and enjoying? Try to assess
what you will require financially to live the life you have envisioned in the
future..
This
is a very important step, for you to live the life of your dreams and bask in
the glory of the magic of life. To realise your dreams, you will need to create
a very clear picture of what that lifestyle will cost. This will then allow you to develop
strategies to get you the dream life you desire.
“Financial independence frees you up to pursue your passions, travel,
engage, in philanthropic endeavors – or do whatever you wish.”
Invest for Success
To
switch around from having to work for money to a place where money works for
you, you will have to make investing a way of life. Your investing must become more important
even than paying your debts. Regardless
of what you choose to invest in—real estate, bonds, stocks, business ventures,
mutual funds, etc.—you’ll need to be committed to those investments for them to
be committed to you.
Make more so can
invest more
There
are really only two ways to end up with more money to invest and ultimately to
spend. You can either spend less or earn
more. To finally live the life of your
dreams you will need to make more money, lots more money.
The
key to making more money is creating value. If you’re creating what people want
and need, especially something that you are passionate about, the money will
follow. And if you can create multiple sources of income, you’re more likely to
create financial security while you are building greater income.
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