A lot of people are stuck in poverty and trapped in debt. Most of the times it is mostly because of their ideas about money. Many people think that money is those notes and coins that go around in banks and throughout the economy and they spend the rest of their lives chasing after it to accumulate it. Money is an idea and you need to create value in whatever commodity you wish to trade for it if you are to stand any chance of consistently attracting it. Well, that's one of the major ideas one needs to change in acquiring Financial Education. Below is the full list.
Change from: The Love of money is the root of all evil
To: The lack of money is the root of all evil
Why: We are by nature good and are made out of love. We all are. The law of attraction says that you attract that which you are, not that which you want. Therefore, you being good or considering yourself to be good will stand no chance in attracting that which you consider to be evil. That results in you always going one step forward and 3 steps backwards (usually after a sermon about self denial from Church). That which is love can never turn Evil. Love is love and its fruits are love as well.
Change from: I can't afford it
To: How can i afford it
Why: There is a popular saying that we all grew up being told by our parents the moment we demanded something extravagant, "You think money grows on trees?". And that would be the end of the conversation or change of subject. Some still do the same thing to their own kids as well. Change the mentality, you don't need it. The moment you tell yourself that you cannot afford it, you would have taken a quick check of your present state, projected using linear projection into the future and the result: No Money. Your brain stops working and you take a humble mental rest. Change that. The moment you say "How can I Afford It?" you put your mind to work. You will be amazed at how easily you can come up with brilliant ideas that can create a fortune.
Change from: The Rich should pay more taxes
To: Tax should be fairly distributed
Why: The moment you fight the rich, you are mentally considering yourself poor. In your mind. You have considered yourself part of the group of people that for different reasons has little to offer to society and should be assisted by those who have abundance. The Rich don't live on handouts. And if you want to be one you should start giving out rather than receiving at every possible opportunity. Your mind should set on making out Philanthropy blueprints. Coming from a state of generosity and abundance.
Change from: Getting educated to find a good company to work for
To: Getting good education to find good companies to buy
Why: Well, employees earn wages/salary which is a reward for actively rendering services and time to an entity of work. The problem with salary is that you can never out work yourself. There are 24hrs in a day. In that time you have to work, spend time with family and friends, eat, exercise, rest, get some entertainment and the list is endless. So there is a scramble for your time. Even if you neglect everything else (which you will obviously regret) and and apply all the time to your employment (or self employment/ practice) you will never achieve Financial Freedom that way. You will work, and buy stuff, work again and buy more stuff but you will get exhausted or old one day but nothing will feed you and you will need to live on handouts.
That's a poor person mentality. The rich don't seek to own a job or profession or practice (for Doctors and Accountants). The rich build and buy systems that create value without their active involvement. For the rich, Profits (Passive profits) are sweeter than salaries and withdrawals from an active professional practice. The moment you master creation of self sustainable systems of value, you are financially free indeed.
Change from: I'm not rich because i have many responsibilities
To: I have to be rich because i have many responsibilities
Why: One is a hindrance and the other is a reason to proceed. One of my mentors in the subject of Wealth accumulation always says, "You need to have enough reason to succeed". And it's true. If the reason is big enough that it can't go out of your mind, you will put everything you have into making it happen. Change the software and program it for success.
Change from: Play it safe, don't take risk
To: Learn to manage risk
Why: Throughout all my financial education, both scholastic and otherwise the one thing that has always been consistent in all finance theories is the relationship between risk and reward. The greater the risk the higher the reward (or cost if it is a borrowing entity). Those that do not take the risk will always settle for what everyone else is getting. Nothing. One example is that of saving. Banks are not stupid, they are not in the business of charity. You will get a return for your money saved with the bank but that's less inflation that would have eroded the value and in many times the inflation rate is higher than the interest you get from your savings.
Saving is not investing. Learn to take risk and to invest your capital. Learn from the story of Master and his 3 servants from the bible. To those that have, more will be given but to those that do not have even what they have will be taken away from them.
Thank you for your time. This is the end of our lesson. I hope you have gained a lot Don't forget to subscribe for our daily articles and to leave us your comment below.
Comments
Post a Comment