To be ready to make the transition to financial independence, it is important that you create and develop a wealthy mindset and business mindset. According to several financial experts, these people have a “rich-mindset”, and think and live differently than the average person. In other words, wealthy people spend their time thinking about how to deploy their money and not about spending it. In addition, it is recognised that wealthy people spent hours thinking and planning about money unlike poor people who normally only need a few hours to spend their money. The question now is, do you know how to create and develop a wealthy mindset? Here’s 5 secrets to create and develop a wealthy mindset as below:
1.Being a responsible person. The first secret to be a wealthy person is being a responsible person rather than lay blame, justify other people. For example, when shit happen in your life, please stop complaint and think independently what learning experience and lessons you learn and make correction quickly.
2.Eliminate the ways of the poor. People are poor because they choose to do so. They made poor choices. For example, instead of investing extra income, poor people will splurge on the things that they were deprived with like new clothes for example. Rich people will hold on to their wants and focus on their needs and the extra income is invested to earn more money.
3.Create multiple cash flow and income . Many people waste their time instead of creating more ways to earn money. Apparently, it is suggested that you have to have multiple income in order to become a wealthy person. Relying on your salaries and wages alone will not lead you there. For example, you might want to capitalise on your hobby like selling valuable items online or get rid of items that you do no longer need but are still useful for other people and sell them.
4.Inculcate investment thinking. Instead of dreaming to buy a new car, gadgets, and other trendy items, think of ways you can multiply your money by several folds. It might help to read about investment management or seek help from financial counsellors first for a start. It is said that successful people learn continuously and adapt new ideas while poor people rely on what they learn at school and stop learning more. According to billionaire Warren Buffet, he must have read more than 100 books before he made his first million.
5.Stop procrastination and taking massive action. Put all your plans into action, don’t just imagine and planning. People become wealthy because they act on what they want and not rely on luck. For example, some people cannot hold second jobs because they fear their friends’ reaction when they learn that you babysit or walk a dog, or sell old items. It’s embarrassing. But this mentality doesn’t help so it’s best to get rid of that ego in order to act now.
The mind is indeed a powerful organ for human beings and unfortunately it is not harnessed well; thus, some people do not enjoy the kind of success they have aspired for. By altering the mindset, the chances of becoming a wealthy person is higher than by just thinking that you cannot do more.