ON THE COUCH: Shocking Confessions of a Self-Made Millionaire: MONEY MAKE-OVER: Five Bad $ Habits to Avoid

ON THE COUCH: Shocking Confessions of a Self-Made Millionaire: MONEY MAKE-OVER: Five Bad $ Habits to Avoid

Everyone wants more money, whether they admit it or not. Some people are ashamed to admit they want more because they think it makes them a bad person. It doesn’t make you bad for wanting to improve the quality of your own or others’ lives!  Admit it!  Go ahead and say it out loud “I want more money”!  Own it! And, if you can’t own the fact that you want more, then the deficit of intention and desire is going to cause a deficit in the amount of financial well-being that you can create.

Yes, belief and intention are a strong part of the wealth creation process and you must have both the belief that you CAN have it and the intention that you WILL have it.  But, the most powerful step in wealth creation lies beyond mindset. Positive mindset must move you from thinking to doing the things that support your belief and intention. Otherwise, the disharmony will prevent wealth creation. So, go ahead and master your mind, but then you must mind your habits.

Don’t make a HABIT out of choosing what feels good over what’s actually good for you.”
Eric Thomas

The mind ignites the mind over matter process, but it’s one’s habits that cause the manifestation of one’s goal.

Here are the Five Common Bad Money Habits to Avoid in Your Quest for Wealth:

1. Lack of Impulse Control: You see it and you must have it. You can’t stop yourself from spending when you’re confronted with that yummy thing even when you know it’s not good for you or your pocket book. Avoid places you know trigger spending on what you can’t afford or the things that don’t assist you in attaining your goals.

2. Not Asking for What You Want: Fear of asking for what you rationally and realistically deserve. Understand your worth, conquer your fear and just do it. Those who don’t ask, don’t get.

3. Putting All Your Eggs in One Basket: Entire Countries have gone bankrupt and banks have gone under. Mitigate potential loss, preserve and grow your wealth by diversifying. Don’t wait until “some day when I ..”.

4. Avoiding Reality: I know it’s easier to be in denial rather than to accept the reality of what you have, don’t have and what needs to be done to get control over your financial situation. But, you must face reality head on and get outside help if you need it. Face the facts and reap the rewards.

5. Harmfully Rewarding yourself: I witness this one all the time. Yes, you’ve worked hard and you’ve just accomplished a goal and you deserve to reward yourself. But, rewarding yourself with something that feels good today, yet causes you a loss tomorrow, is not a reward, it’s self-punishment. A reward isn’t something that hurts your financial or physical health.

Make up your mind to give yourself a money make-over by taking a fearless inventory of your top five bad money habits. Write them down. Next, write down the positive new ones that you commit to replacing them with.

Now, go out and prosper! YOU GOT THIS! If I could do it, you can too.

In Closing My Shocking Confession: I like nice things. Period. It’s in my blood LOL. But, I have great impulse control. I do not indulge in any behavior or bad habit that causes me financial or physical harm. That’s just how I roll. Nowadays that is. But, I wasn’t always this way. Quite the opposite. There were those years before I transformed myself, that I thought it really cool and a sign of success to buy that brand-new Porsche that I couldn’t really afford or score some drugs and go out on a 2 day “celebration” bender when I closed deals. Thank God, I figured out that trading what feels good in the moment for what actually is good for me, is the key to success.

ON THE COUCH: Shocking Confessions of a Self-Made Millionaire: The “Nouveau Riche” Entrepreneur

ON THE COUCH: Shocking Confessions of a Self-Made Millionaire: The “Nouveau Riche” Entrepreneur

Nouveau Riche is a term to describe a self-made person who has become wealthy during their own life time rather than through wealth by inheritance.  And yet, rather than being praised for becoming self-made, being “new money” historically has been stigmatized.  The stigmata is that “new money” people are inferior to those coming from old money because they lack sound value systems and exhibit conspicuous consumption.

Oh, my goodness! Has the world changed or what? Someone needs to update all the dictionaries! Nouveau Riche has been redefined and modernized by a new breed of entrepreneurs. Those who through their hard work and dedication to manifesting their vision into reality have revolutionized the world we live in. And, rather than exhibit behaviors of over-consumption and self-absorption, live lives of minimalism and profound giving.

“Wealth is not to feed our egos but to feed the hungry and to help people help themselves.” Andrew Carnegie

Ok, so where am I going with this you may be asking. No longer do we have to hold the belief that wanting to become rich is a bad thing. Many good people perceive that if they desire to be rich, there must be something unspiritual, undesirable or unhealthy about themselves. Or, if they do want to be rich, they are afraid to admit it for fear of being judged.

It’s 2017. A brand-new year!  Now is the time to let go of the outdated belief that wanting to become rich is a negative aspiration. Now is the time, more than ever, to strive to get rich at every level of your existence: mentally, physically, spiritually, and yes, financially. There is no shame in it. There is only positive benefit in it.

After studying the 2016 entrepreneurial stats and the world’s richest entrepreneurs here’s what you need to know in 2017 to get and keep you motivated to become the world’s next “new money” breed of entrepreneur:

1. Age is not a barrier. The fact is that the rate of new entrepreneurs is highest among boomers between the ages of 55-64.

2. Having a passion will automatically drive you. A relentless desire to bring your vision into reality automatically prompts you to take relentless and consistent action.

3. A Lack of Money does not prevent success. Those who persist in pursuing their dreams by taking action every day to manifest it attract the money they need to achieve entrepreneurial success.

4. Not having too much is an advantage. Minimalism breeds focus. Focus is the key to success and attainment of wealth. Eliminating the non-essentials that distract you from your goals gives you the mental prowess needed to stay focused and to innovate.

5. Starting small leads to great achievements. It’s ok to start small. Great wealth doesn’t happen overnight, but it can come expeditiously by being pragmatic and sticking to your vision and values.

“Without passion, you don’t have energy. Without energy, you have nothing.” – Warren Buffett

In closing my shocking confession: My single goal as early as I can recall was to strive to make a difference in each person’s life that I encountered. I did not want to leave a single interaction without hopefully having imparted something positive. That passion is what drove all my actions. Then, to my surprise, I became a millionaire. I kept it secret for a very long time. I kept it a secret because I thought I would be perceived as a bad person for being rich and that it would negatively impact my relationships. What I discovered was, as long as I stayed true to my passion and my values, I was able to preserve the quality of my relationships, maintain balance and humility through self-restraint–all the while having a greater capacity to give more.