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.”
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.
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.
We’ve all seen a movie or a real life situation where a person is speaking a wonderful promise to another person all the while crossing their fingers behind their back. As if crossing fingers absolves them of their unprincipled behavior. And, to make this portrayal of human behavior even more unsavory, we’ve been conditioned to see the person crossing their fingers as not really doing something that harmful.
Promises are a pathway to success. Period. There is no gray area here. The person who is intentionally or non-intentionally breaking their promise is not only causing harm to the other party, but committing a harmful crime against themselves. In failing to uphold their promise, they are setting themselves up for future failure.
“PROMISE IS A BIG WORD. IT EITHER MAKES SOMETHING OR BREAKS EVERYTHING”. Unknown
Stephen Covey’s bestselling classic: The 7 Habits of Highly Effective People cites the #1 Habit to acquire to become successful is to be proactive: “The commitments we make to ourselves and to others, and our integrity to those commitments, is the essence and clearest manifestation of our proactivity”. If then, upon recognizing the failure to uphold a promise to ourselves or another, an immediate ability to self-correct is the most effective step one can take to putting oneself back on the path to success.
I bet almost everyone reading this article can reflect upon a time when they said to themselves “I will never let myself do such and such again”, only to find themselves doing it one more time and suffering some kind of a loss as a result of failing to keep their promise to themselves. We’re human, sometimes we succumb to breaking our promise to ourselves because we want something very badly. But, then we find out the hard way, that “Ooops, I did it again.” Until eventually, a hard habit of rigorously honoring our promises to ourselves becomes ingrained in our behavior because we have experienced the consequences of not doing so.
Success is achieved by consistently being proactive to keep the promises we make. It’s important, first and foremost, to identify the #1 Top Promise you make to yourself. It’s the bedrock upon which your future success will be made. The #1 promise that I made to myself that made me a millionaire was to always be honest with myself and others; regardless of a fear of losing a perceived advantage, and not to align myself with those who don’t share the same value.
At the end of the day, there is great profit to be gained by honoring the wisdom of Shakespeare on how to live a blessed, balanced and successful life…
This above all: to thine own self be true
And it must follow, as the night the day
Thou canst not then be false to any man/Farewell, my blessing season this in thee!”
In closing my shocking confession: I guess I had to learn the lesson the hard way. I had promised myself that I was not going to do business ever again with this company because they had failed to be honest in advising me of a key known fact that negatively impacted the valuation of the property that I was purchasing from them. I discovered it only after the fact. Fast forward 4 years later. The same group came forward with an incredible offer to purchase another property. I kept saying not interested. The “not interested” position remained in effect for months. Until the day, they came back with an offer that I felt I couldn’t refuse. It was incredible! I said to myself, the past is the past, and surely, last experience wouldn’t repeat itself. Boy, o’ boy, was that a huge mistake. Almost immediately upon closing the deal, I suffered huge problems getting them to honor their guarantees which cost me a financial loss and a lot of stress. I had failed to keep my promise to myself not to do business with people who didn’t share the value of honesty and had allowed myself to succumb to the allure of the great deal. I’ve lived and I have learned and earned.
What is your #1 Promise to yourself to keep no matter what? Honoring it is your ticket to a rich, rewarding and successful life.
The word “warrior” is a strong word and appropriately so. A warrior is a strong person. One who has earned the title because they’ve exhibited a sustained endurance in the fight to protect their values, beliefs and ideals. A warrior lives their life with honor, integrity and an unwavering commitment to Truth.
I bet you’re thinking “Wow, that all sounds really heavy! What’s that got to do with wealth creation?” Here’s the answer. A master maker of riches is a person who has learned that their mindset and how they manage their mind is their biggest asset in wealth creation. A mindset that is married to Truth in all things is the mindset that can effectively cut through denial, illusion, ego, competition, challenges, set-backs, fluctuating global conditions and negativity.
In a nutshell, they are master makers of riches because they are master warriors.
“The master warrior is a man of character, a man of wisdom and insight.” Forrest E. Morgan
A master warrior knows that an unwavering commitment to Truth is what allows them to remain, sustain and grow their personal wealth at all levels of human existence.
Here are the Warrior’s 5 Ways to Wealth:
- Stay true to yourself no matter what. Wealth warriors do not allow criticism, judgement, fear and success to overtake them to the point they lose themselves, their values or morality.
- Be unafraid to challenge the status quo. Warriors see the status quo as limiting and representative of complacency. They continuously seek new ways to innovate, stretch the boundaries of human potential and are unafraid to promote change.
- Value allocation versus accumulation. Smart allocation of resources is what multiplies and strengthens wealth and accumulation is what decreases and weakens wealth. A habit of accumulation is a mindset of fear which does not provide expansive behavior leading to expansive wealth.
- Burning desire to improve humanity’s daily quality of life. The goods or services being promoted and sold are created with the primary goal to improve lives.
- Know when to rest, but never quit growing. An unrelenting drive to positively expand self, worldview and provide solutions. Periods of rest to prevent burn-out, brain-drain and provide optimal mental, physical, spiritual and intellectual endurance necessary for continued expansion.
The above fabulous five all have one thing in common. Fearlessness. Wealth warriors feel the fear and go ahead and take action anyway. It’s normal and ok to feel fear. We all do. What’s not productive is to allow fear to rule you, rather than you rule your fear.
In closing my shocking confession: I had a big presentation to give to major Hollywood insiders. I was NOT an insider. I was an outsider, but I had something that they wanted—money. They had something I wanted—an inspiring, hot property. As I presented my financial model and deal structure that would be acceptable to my investors, I witnessed shocked faces all around. I paused and asked “Why the surprise?” The reply was “Well, that just not ok. That’s not how it’s done here in Hollywood.” I simply said, “Why not?” The reply after a long pause was “Well, it’s just never been done that way before.” I had to advise them that if they wanted the funding that’s how it would need to be done. And, guess what? They agreed to the deal! You see, this was at a time when the hedge funds pulled their capital out of Hollywood. By challenging the status quo, we were able to provide a win-win solution to expanding growth on all sides of the equation. BTW, the “hot property” was a film based upon the inspiring true story of one man’s rise to fame, loss of self, and journey to self-redemption.