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4 Smart Things Rich People Do That You Should Too

March 26th, 2021 Posted in millionaire mindset, Money Tips
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Are you interested in building up your finances and ensuring that you are in a stronger position? If so, then it does make sense to explore what rich people are doing with their money. Don’t forget, they’re rich for a reason and if you can learn their secrets, you will be able to emulate their level of success.

4 Smart Things Rich People Do That You Should Too - happy piggy bank and coins image
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Diversify

First, you should make sure that you are diversifying your income as much as possible. Experts agree that everyone regardless of their total income should have a few different avenues of profit that are part of their financial set up. In other words, you do need to make sure that you have a side hustle. This doesn’t have to provide you with a massive level of extra cash, but it should give you enough money that you can fall back on it if you ever need to. 

Speak To A Financial Advisor

Next, you should make sure that you are speaking to a financial advisor. The right financial advisor will look at your current portfolio and help you assess where you should be spending your money. They will work with you to guarantee that you make smart financial investments from day one, regardless of what your goals are. They’ll work with you to build up your goals too and make sure that you aren’t in a position where you don’t know where you stand financially. Experts like Glen Clemans of CGC Financial are always willing to help those who want to get their financial portfolio in order. 

Hire An Accountant


Rich people always have an accountant on their side. They come in handy for a variety of reasons. An accountant will be able to make sure that you are budgeting the right way and not leaving anything out of your calculations. They might even be able to find a little more money in your budget so that you have extra cash to spend on the things that you want. An accountant will also be useful when you need to pay tax. They’ll help you find legal ways to pay less tax so that you can keep your costs under control.

4 Smart Things Rich People Do That You Should Too - calculator image

Invest In Property

Finally, once you have built up enough money in savings, you should be considering what investment options are available to you. One of the best is always going to be property. If you look at the rich and famous, you’ll notice that they always have multiple houses and the reason for this is simple. It’s one of the safest investment options that you should definitely be exploring. You might think that you need a fortune to invest in property, but that’s not the case. Instead, you just need to find a smaller home, buy it and build up your portfolio from there. 

We hope this helps you understand some of the key steps that rich people do take with their finances. If you follow in their footsteps, you are always going to be in a far stronger position with your money. 

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Shift Your Mindset for the New Year to Reach Your Goals

January 7th, 2021 Posted in millionaire mindset
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The amount of financial advice that exists today can be overwhelming, and there tons of different strategies and tactics you can use to build a stronger foundation for your finances. If you’re struggling with your finances, you might think that all you need is more money to fix your problems. But what if what you actually need is a simple mindset shift? If you harbor a perpetual negative outlook on your potential for financial success, you might be experiencing the effects of a fixed mindset according to psychologist Carol Dweck. 

Those with a fixed mindset believe their capabilities are set in stone, and that the possibility for improvement is out of reach. With a fixed mindset, challenges appear insurmountable because you believe you’re incapable of developing the skills required to overcome new obstacles. This mindset keeps you stuck and limits your ability to reach your monetary potential. 

The alternative is adopting a growth mindset: believing that your talents and abilities aren’t limited by what you inherently possess, and that you’re just as capable of reaching financial success as anyone else. Choosing to view your financial roadblocks as opportunities to grow is a much more encouraging foundation to stand on, and increases the probability that you’ll find a way to overcome them. People with a growth mindset believe that just because they’re facing a difficult or unfamiliar situation doesn’t mean they can’t acquire the skills needed to overcome them. 
If you’ve been feeling stuck in the path towards financial freedom and success, take a look at this visual that expands on each tenant of a growth mindset and offers examples of how to start practicing it in your own life. Your financial dreams aren’t out of reach—sometimes you just need to change the way you think in order to realize your full potential.

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10 Limiting Beliefs About Money

June 28th, 2020 Posted in millionaire mindset, Money Tips
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Our beliefs are the cornerstone of our experience. What we believe decides our actions which in turn lead to our results. But where do these beliefs come from and are they true?

Many of our limiting beliefs about money come from childhood before the age of 7. At that time we are hyper vigilant to the world around us and the influences from parents, caregivers and what we see or hear on TV.

Photo by August de Richelieu from Pexels

Picture the scene, you are staying up late with your parents watching a film or soap on TV. The rich guy is nearly always the villain, selfish, greedy and probably has criminal tendencies. The wealthy family is dysfunctional with rebellious kids and partners cheating on each other. The portrayal of wealthy people is nearly always negative, so too is the likely reaction of those watching. Particularly if young and vulnerable to external influences.

Subconsciously we accept these images and scenes as ‘normal’ and overtime, with repetition, they form our beliefs, for example that rich people are greedy or bad in some way. A consequence of which is that in our young minds we make a decision that this is not the path for us.

“We learn our belief systems as very little children, and then we move through life creating experiences to match our beliefs. Look back in your own life and notice how often you have gone through the same experience.”

–Louise L. Hay

At some point as adults we can learn to challenge these limiting beliefs about money and realise that what we took in as a child is either not true or questionable to say the least.

When we believe something to be true we look for evidence to support it. we need to be ‘right’ to feel good. So if we have a limiting belief that money only comes through hard work we will scan our experience to support that view. For example for a teenager maybe a summer job picking fruit was ‘hard work’ and resulted in getting more money than they were used to. Or working evenings in a restaurant, or Saturday on their feet all day as a shop assistant.

Each validation of the belief acts to strengthen it. Just as placing legs under a table top makes it more stable and likely to endure. 3 legs or more are ‘wobbly’ but bring 4, 6, 8 or more and that table is rock solid.

The trick to explosing that belief is to remove the legs from under the table. Chalneging these beliefs can take some time but can be achieved with a little patience and desire.

So for example if we believe that ‘money is the root of all evil’ here is a questioning technique to work through.

Step 1: Write the limiting belief down. Play detective and follow your thoughts and emotions to discover the limiting beliefs that hold you back. Put them on paper and stare them in the face! You might note how strong each belief is and what emotions they elicit in you.

Step 2: Acknowledge that these are beliefs, not truths! This is often the hardest step. “But, but, my limitations are real!” Here’s the place where choice comes in. Which are you more interested in: defending your limitations to the death or achieving your goals and desires? As author Evelyn Waugh wrote, “When we argue for our limitations, we get to keep them.” You can choose.

Step 3: Try on a different belief. Use your imagination and try on a belief that is aligned with what you want. It might be something like, “My financial difficulties in the past have taught me so much that I’m fully prepared to handle them now!” Or, “The more money I have, the more good I can achieve in the world”

The trick is to go beyond just saying it. You want to really step into this new belief and feel how it feels. Done thoroughly, Steps 2 and 3 will go a long way to dismantling your old limiting beliefs about money or anything else.

Step 4: Take different action. This might feel a little scary, but it’s time to act as if your new belief is true. In other words, if you really are capable and have learned a tremendous amount from past financial difficulties, what steps would you take?  What would you do differently now?

The infographic below comes courtesy of T Harv Eker and may help you look at your limiting beliefs about money in a different way.

Changing limiting beliefs about money. Infographic from T Harv Eker
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3 diagrams that can change your life

April 10th, 2020 Posted in Entrepreneurship, Jobs and Careers, millionaire mindset, Money Tips
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That’s a bold claim, but by studying these diagrams and reading their meaning you main gain some new ideas or distinctions which may influence your choices, which will change your outcome and ultimately change you life.

3 diagrams that can change your life - passion competence and demand image

Diagram 1 considers the possibility that Passion alone is not enough. We can be passionate about art or music or being a sportsperson but if we lack the competence to make it as a professional in these areas then we need to consider other options.

A football mad teenager with a competence in Maths could become a data analyst for a sports team. Or someone with a passion for music but a talent for tech could end up as a producer.

The third sphere to consider is whether there is a demand for your skill and talent. Is that sufficient to become a full time career? A passion and talent for poetry may not be sufficient to make a successful career, but can still be a fulfilling hobby and creative outlet.

Think about what you love, what you are good at (or willing to develop) and then see how that can also earn a good living.

3 diagrams that can change your life - happiness in the now vs vision for the future image

Diagram two. This one came courtesy of Vishen Lakhiani, founder of MindValley. On one axis is Happiness in the Now from low to high, and on the other is Vision for the Future, again from low to high. So if you were to score yourself out of 10, how happy are you in this moment and what is your strength of vision for the future?

If you find yourself in the bottom left hand box, with a low score for each, you’re in what he calls the negative spiral. So you’re unhappy now, you don’t have much of a vision for the future, you’re just going to stay stuck and feel pretty down about things.

If you’re finding yourself quite happy now, but again, with no vision for the future, I’ve coloured that one pink because of rose tinted glasses. You might think everything’s okay, but unfortunately things external to us can change, which is going to affect how we feel. So that might be loss of a partner, it might be illness, it might be losing your job or a global pandemic. So, being happy now but with no vision for the future while it might feel ok short term is not necessarily a safe place to be.

So, what about a strong vision for the future but not very happy in the moment? Well, that way leads to stress and anxiety. You set goals, you have visions, you’re ambitious for the future, but you’re discontent in the moment. And that negativity you experience now is not going to help in fulfilling that vision for the future. So what it means is you suffer from stress and anxiety in the present time. Which is why expressing gratitude is such an important aspect of many self development teachings.

So where would we like to be? We’d like to be happy now, grateful and accepting of our situation, but also have a very strong vision of the future to pull us forward. And that Vishen calls bending reality. Other people call it the flow. This is where you’re able to draw the people, the circumstances, the resources you need to you. You are happy in the moment and even happier when the reality comes to fruition to change your life.

3 diagrams that can change your life - cashflow quadrant Robert Kiyosaki

And finally, diagram number three. This one comes from Rich Dad, Poor Dad author, Robert Kiyosaki. He looked at different ways in which people earn money. So to begin with, in the top left, we’ve got the employee. That’s people who spend their time at work and they’re swapping their time for money. Their conditions and their pay is largely controlled by somebody else.

Then, bottom left, we’ve got those that are self-employed. They run their own business, they work for themselves. And that covers a whole spectrum. That could include trades people or it could be self-employed sports stars earning a lot of money. Regardless in this category they’re still effectively swapping their time for money even though they’re their own boss.

Over the other side, in the top right we’ve got the business owner. That’s different from being self-employed because they’re leveraging other people’s time, other people’s skill, other people’s resources to run a business. And that business may exist with or without them. So they’re in a stronger financial position as they are not restricted to swapping their time for money.

But ultimately, the investor in the fourth quadrant is where the wealth gets made. Here these people are not limited to owning one business. They may have stakes in multiple businesses. They may invest in property or real estate. They may have stock market investments. They may have other investments, which all bring them money from different sources.

So there you have it, three of my favourite diagrams, which can change your life by making a big impact on how you feel about money and your choices about being successful in life.

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What the Schools Will Never Teach You: 3 Well-Kept Secrets to Financial Success

March 19th, 2019 Posted in learning about money, millionaire mindset
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When it comes to Money, Lifestyle and finance, in general, there are lots of financial secrets you may never find in theories, especially in schools- these secrets are financial hacks you must unlock yourself. How will you feel, finding yourself in huge student debt, after spending thousands on college or university and still unable to learn one of the biggest lessons of life? Here are some well-kept secrets to financial success that your schools may never teach you.

What the Schools Will Never Teach You: 3 Well-Kept Secrets to Financial Success - success visualisation image

Visualizing Your future is a Great Path to Financial Success

Some financial experts have been able to carry out a thorough investigation on how your financial success can become a manifestation, through continuous visualization. When you visualize, you become clear of your goals and begin to see yourself living in the future already. Many business and finance students are under-utilizing the tool of visualization but if you actually want financial growth, see yourself as of now in that very successful position.

When you see yourself in that financial success right now, you begin to attract individuals and new leads that will drive you towards achieving that dream- this is the simple law of attraction that no school will ever teach you.

There are Many Other Income Streams Besides the Regular White-collar Job

When you are growing up, your mind and brain will be conditioned towards studying hard in school, getting a good grade and landing a job in a company that pays well. The school will also teach you to do everything it takes to climb the corporate ladder, and then save money to become richer.

Most schools wouldn’t want to mention individuals who do not follow these stereotypical routines to become rich. as an adult, you are now beginning to realize that there are several other ways to make money and you even wished you have discovered these opportunities earlier on. The simple truth is that having multiple streams of income aside your regular job is the key to huge financial success. A side business makes you feel like a boss, aside from generating extra money for you.

There is a Correlation Between Emotion and Money

When you are in school, you may be hardly taught about the psychology of spending. When you become an adult, you learn the hard way that our emotions and spending are intertwined. You will hardly find teens and young adults who can control their emotions especially when they see things they like. Becoming a financial success has a lot to do with being financially disciplined. This means you should rather spend on what you need and not your wants.

In conclusion, you need to understand that money is a tool that you need to work with if you truly want to become financially successful. You need to re-educate yourself when it comes to making your money work for you. With the help of a financial advisor, there are several ways through which you can make your money work for you as a tool in order to become financially successful.

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