Get Your Mind Right, Get Your Grind Right, Get Your Money Right
Before you can become a young Money Mogul, you have to first think like one. Wealth is a state of mind, not a state of finances. You could take away a wealthy man’s money today, and tomorrow he would begin to rebuild his empire. You could give millions of dollars today to a man who drifts through life with no aspirations past working to pay his bills, and tomorrow he will be halfway done with squandering his riches and only a week from returning to the job he ‘retired’ from.
In this post, we’re going to talk about how to get your mind right, so you can get your grind right, which will allow you to eventually get your money right. We’ll give you tips and strategies that you can use to your advantage.
Let’s treat wealth like a sport. Or a game. The objective is, obviously, to score as many points as possible before your time expires. Some people start the game with more money, some with less. None of that matters.
Why? Because you are in your current state in life by the people you associate with and the books you read. If you hang around a losing team, you become a loser. If you associate with people that encourage you, that push you to do better, that are true winners, you become a winner.
Someone could start their day off with $5 in their pocket and turn it into $20, while others will complain they only have $5 and buy themselves 5 things off the dollar menu. Both players were dealt the same hand, one just knew how to play the game differently than the other, and that person won.
This sport must be studied constantly. You will have to read and learn from the people who have become successful, who are at in life where you aspire to be. Success leaves clues, and if you study the leaders long enough, you will begin to see them for yourself. And if you see them for long enough, you will begin implementing them into your life.
For every sport, there must be a solid gameplan. One that comes with a successful offensive strategy and/or a successful defensive strategy. We say ‘or’ because if you can figure out offense well enough, you can be decent at defense and still succeed. A football team that can consistently score 60 points per game doesn’t have to worry a whole lot about how many touchdowns it gives up. Similarly, if your car breaks down and it costs $400 to repair, but you have $2,000 in savings, no sweat. However, if your savings account only has $200, you’re in trouble.
Let’s talk about some defensive strategies you can use. Because, in the end, it doesn’t matter how much money you make, it matters how much you keep. Everyone has a cash flow of some sort. This is where we’ll start. Do you know where every dollar of incoming cash goes? You better. Take a break to draw out your finances right now if you don’t. A great free tool you can use is Mint.com to help you keep track of all your bank accounts and credit cards, complete with spending graphs, trends, and data.