From time to time it is important to get back to the basics. Get back to the things that are going to make us successful with our finances. It can be really easy to forget about the small and simple things that are going to make you successful. I would like to talk about just a few things that will help us get back to the basics.
Continue developing the millionaire mindset:
In the book As a Man Thinketh James Allen states, “They themselves are makers of themselves” in other words, you create who you become through your thoughts. If you are not satisfied with your current financial situation, then start thinking like someone who is financially secure. Start focusing on what you want in life instead of focusing on what you don’t. If you can do this, you can literally change your financial environment forever. Allow me to elaborate, if you start thinking like someone who is financially independent, how are you going to act? You will start to act like that person. If you start acting like that person, what type of results are you going to see? You are going to see the same results that financially independent people see. You will see more money in the bank account and less debt. I have a saying that goes like this, “if you are looking at the ground that is all that you’re going to see.” You must elevate your thoughts if you want to elevate your financial situation. This is a world of abundance there is enough for everyone. The following poem puts it beautifully.
Mind is the Master power that moulds and makes,
And Man is Mind, and evermore he takes
The tool of Thought, and, shaping what he wills,
Brings forth a thousand joys, a thousand ills: —
He thinks in secret, and it comes to pass:
Environment is but his looking-glass.
Having the correct mindset when it comes to your money is 90 percent of the battle. If you can think this new way, then you can have all the wealth that you desire. So, how do we start developing the millionaire mindset? We can start with the basics:
Millionaires are always looking for ways to increase their income and decrease their expenses.
Millionaires have multiple streams of income. Most people have one or two streams of income, millionaires have many.
Millionaires always keep their eyes on their money. They know how much money is coming in and how much money is going out.
Millionaires adapted early on the mindset of, “live now the way most people won’t so they can live the rest of their lives like most people can’t.”
Millionaires are frugal. The word frugal to a millionaire is a positive thing for the poor and the middle class the word frugal is the “f” word.
Millionaires know what their net worth is and they closely monitor any changes in it.
Millionaires loathe debt. They do not pay interest they earn it!
Millionaires understand the principles of compound interest.
Millionaires invest their money wisely. They do not chase the latest and greatest “get rich quick schemes.”
Millionaires are very organized.
Millionaires have mastered the art of buying low and selling high.
Millionaires spend their lives accumulating assets and not liabilities.
Millionaires make the necessary sacrifices to set up a secure future for themselves and their families.
Developing the millionaire mindset will truly help you to take control of your actions. If you can begin to think this way, you will start to act this way and eventually you will become that which you are thinking about.
Thinking like a millionaire + Acting like a millionaire = Becoming a millionaire.
Continue focusing on your Cash flow: If you want to get somewhere with your finances it is important to see where you are now financially and where It is you want to go. If you are not watching where your money is going that would be like being on a sinking ship with a blindfold on. There is no possible way to fix the leaks if you do not know where the leaks are.
Remember to have fun with the program: One thing that successful people do with the program is they celebrate their successes. Money should be a fun topic in the family and not a point of contention, so have fun and enjoy watching your bank account grow!
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