Millionaire Mind | Wealth Files part 11

You can be right or you can be rich, but you can’t be both.

Something you hear a lot is “if you keep doing what you’ve always done, you’ll keep getting what you always do” This is something that we were taught from the very first business we were involved in 20 years ago, and as a result have continued learning every chance we get.

Millionaire Mind| Wealth Files

In the last post we talked about Wealth File #16 about acting in spite of fear.

This is the final post of this series and today I am going to talk about Wealth File #17

Rich people constantly learn and grow. Poor people think they already know.

Did you know that the three most dangerous words in the English language are “I know that”?

The only way you can know something is if you live it.  Otherwise you heard about it, you read about it or you talk about it, but you don’t know it.

You can be right or you can be rich, but you can’t be both.

Something you hear a lot is “if you keep doing what you’ve always done, you’ll keep getting what you always do” This is something that we were taught from the very first business we were involved in 20 years ago, and as a result have continued learning every chance we get.

For me, I am doing learning every day by reading books, listening to audios, and researching daily.  My husband and I have done adult education, courses like Small business Management course, Advanced business growth course, WordPress training courses, Financial Management courses, options trading courses.  We never stop learning.  We are always stretching our boundaries.

The only way to have money is to learn how to play the money game inside and out.  You need to learn skills and strategies to accelerate your income, manage your money, and to invest it effectively.

One of the biggest things you have to remember is that “Every Master was once a disaster”

What we have done over the years is find models and say to ourselves “if they can do it, we can do it.”

One of the biggest things I have done for me recently is get involved in Business Bootcamps run by my mentor where I have learned so much and have so much more confidence now to run my business.  I have had training on things like how to do email marketing, how to use tools like Periscope, and Instagram.  How to do video marketing.  Over time I will also teach these as I master them.  One of the things Harv says is that Rich people understand the order of success is Be, Do, Have.  You need to do the inner work on yourself so you can make your ability to receive money bigger and bigger and re-programme your financial blueprint.  You have to know and fell like what you want to become, do the work to get there and then actually have what you wanted.

The best way to learn is from the people that have been there before you, take advice from people that have already achieved what you are wanting to achieve.

If you have enjoyed this series of posts let me know.  I would love to hear from you.  I can be contacted on Facebook.

Leave a comment below, and click any of the banners on this page.  I am learning all the time from my mentor and I would love you to join me on the journey to self discovery and success.

Have a great day

Millionaire Mind | Wealth Files part 8

Rich People believe “you can have your cake and eat it too.” Middle-class people believe “Cake is rich, so I’ll only have a little piece.” Poor people don’t believe they deserve cake, so they order a doughnut, focus on the hole, and why they have “nothing.”

Millionaire Mind | Wealth Files

In the last post I talked about Wealth Files 8,9, and 10.  Today I am going to discuss the next few.

If you enjoy reading this then please go back and read all the rest I have done.

Wealth Files #11
Rich People choose to get paid based on results.  Poor People choose to get paid on time.

The first wealth principle that comes from this is that there is nothing wrong with getting a steady paycheck, unless it interferes with your ability to earn what you are worth.  There’s the rub.  It usually does.

Poor people prefer the security of an hourly paid job or salary. However what they don’t realise is that this security comes with a price and that is wealth.

Rich people prefer to be paid on results  or at least partially.  That is why so many CEO’s have a share portion as part of their salary package.  Others get paid once the results have happened, e.g the task is to get so much percentage improvement so they get paid on the percentage increase achieved rather the amount of hours spent doing the work.

The big thing is never to have a ceiling on your income.  The only way you can never have a ceiling on your income is to own your own business and Harv says that Network Marketing can be a dynamite vehicle for wealth.

Other options are to exchange your job to a contract.  The only way to earn what you are really worth is to get paid based on your results.  Harv’s father said “you’ll never get rich working on straight salary for someone else.  If you’re going to get a job, make sure you get paid on percentage.  Otherwise, go work for yourself!”

Wealth File #12
Rich People think “both.” Poor People think “either/or”

Rich people live in a world of abundance.  Poor people live in a world of limitations. Of course, both live in the same physical world, but the difference is in their perspective.  Poor and middle class people come from scarcity.  They live by motto’s such as “there’s only so much to go around, there’s never enough, and you can’t have everything,”   And although you may not have “everything.” as in all the things in the world, I do not think you can certainly have “everything you really want.”

Here is what we mean by both
Do you really want a successful career or a close relationship with your family? Both!
Do you want to focus on business or have fun and play? Both!
Do you want money or meaning in your life? Both!
Do you want to earn a fortune or do the work you love? Both!
Poor people always choose one, rich people choose both.

The most important question to ask yourself is “How can I have both?”

This is an example from Harv what having both can mean.

He was preparing to deal with an unhappy supplier that believes that Harv’s company should pay for certain expenses that the supplier had that weren’t originally agreed to. Harv’s feeling was that estimating his costs was the suppliers business not Harv’s.  Harv was more than willing to negotiate a new agreement for next time but was big on keeping agreements that were already made.  Now in his “broke” days Harv would have gone into this conversation with the goal of making his point and making sure that he didn’t pay the guy one more cent than originally agreed.  And even though he would have liked to keep that supplier, this would probably have ended up as a huge argument.  He would have gone in thinking either he wins or I win.  Today however he is going into this discussion completely open to creating a situation where he is not going to pay the supplier any more money and the supplier is going to be extremely happy with the arrangements made.

Nowhere is “both” thinking more important than when it comes to money.  Poor and many middle-class people believe that they have to choose between money and the other aspects of life.  Hence they work on the assumption that money is not as important as other things.

People who are rich in every sense of the word understand that you have to have both.  just as you have to have both your arms and legs, you have to have money and happiness.

How many times were you told as a kid that you can not have your cake and eat it too? I know I was told it many a time.

This is the Wealth Principle that relates to this

Rich People believe “you can have your cake and eat it too.” Middle-class people believe “Cake is rich, so I’ll only have a little piece.” Poor people don’t believe they deserve cake, so they order a doughnut, focus on the hole, and why they have “nothing.”

Wealth File#13
Rich people focus on their net worth.  Poor people focus on their working income

How many times do your friends ask you “How much do you make?”  Most of our friends do not ask what is your net worth but that is the way rich people talk.  They concentrate on net-worth not income.

There are four factors that determine your net worth.  They are:

  • Income
  • Savings
  • Investments
  • Simplification

Rich people understand that building a high net worth is an equation that contains all four elements.  Because all these factors are essential.

Lets go into detail about what each of these are.

Income – This comes in two forms – working income and passive income.  Working income is the type of income we earn from active work.  It is the pay-cheque from our job, or profits or income taken from a business.  Working income required time and labour be invested to create it.  It is important because without it none of the other parts of net worth can be achieved.  Working income is how we fill the financial funnel that enables us to create savings and investments.  Passive income is money earned without you actively working.  Think of royalties for work done in the past, or a residual income.

Savings – This is pretty explanatory.  Saving some of your income for a future time. It is an imperative part of Net Wealth.    This is where you learn money management by saving a portion of your income for future times.  It is only once you have learned to save a significant amount will you have the funds to do the next part of the Net Wealth equation of investing.

Investing – This is where you make your money grow.  You can invest in the the share-market, Property or businesses or anything else that will grow your money.  The better you are at investing the more your money will grow. If you are going to invest you need to learn all about it, choose something you want to learn about, and then study it.  My husband and I have done courses on options trading and one of our friends has had some good success with it.  My husband keeps a good eye on what the sharemarket is doing and generally aware of currency markets as well.

Simplification – this is creating a life where you need less and less money to live the life you want.  It goes hand in hand with saving money, whereby you consciously create a lifestyle in which you need less money to live on.  By decreasing your cost of living, you increase your savings and the amount of funds available for investing.

A great way to look at this is as if you are driving a bus with four wheels.  What would the ride be like if you were driving on one wheel only?  Probably slow, bumpy, full of struggle, sparks and going in circles.  Sound familiar?  Rich people play the money game on four wheels.  That is why their ride is fast, smooth, direct and relatively easy.  The bus is a great analogy because most likely you will want to bring other people along on the ride.   Do you want to join me on that bus ride?  As I sure would like you to join me.

Tracking your Net Worth means you will focus on it and where your attention goes, energy flows and results show.

If you are getting value from these posts please leave a comment below.

If you want to join me on this journey to wealth and self discovery then click any of the banners on this page or leave your email address below and we can do this together.

Have a great day.

Millionaire Mind |Wealth Principles |Money Mastery part 5

This post is further learnings from the book Secrets of the Millionaire mind. Today we discuss the first four wealth files in depth.
Think big, rich people create their own lives, Rich people play the money game to win, and are committed to been rich.

Millionaire Mind |Wealth Principles |Money Mastery

Yesterday I shared the 17 Wealth Files.  Today I am going to go into more detail on the first 4 Wealth files.

I am currently reading the book Secrets of the Millionaire Mind by T Harv Eker and in this series of posts I am sharing what I am learning from this book.

The first Wealth File I am going to talk about is

Rich People believe “I create my Life” Poor People believe “Life happens to me”

The most important thing you meed to know about rich people is they believe they are responsible for their own life.  They choose to believe that they create their life by their thoughts and actions.

They do not blame anything else for where they are in life.  Rich people believe that no matter what (the environment is, the political situation is, my friends think of) what happens in my life is up to me.

Another thing that poor or middle class people do is justify to themselves that money is not really important.  If you do not think money is important then it will not feature greatly in your life.  Money is extremely important in the areas in which it works, and extremely unimportant in the areas in which it doesn’t. And although love may make the world go round, it sure doesn’t pay for the building of any hospitals, churches or homes.  It also doesn’t feed anybody.

Another clue that you are not thinking rich is complaining.  I just love this statement “When you are complaining, you become a living breathing “crap magnet””.  When you think this it really makes it clear to you that it is stupid to complain because the more you complain the more you are putting bad stuff out there, and the more that you put the bad stuff out there the more it will come back to you.

Whenever you hear yourself blaming, justifying or complaining stop immediately and remind yourself that you are creating your own life and that at every moment you will be attracting either success or crap into your life.  It is so important that you choose your thoughts and words wisely.

Remember Money Mastery is more mindset than technique

Remember there is no such thing as a really rich victim.

Wealth File 2

Rich people play the money game to win.  Poor people play the money game not to lose

If you shoot for the stars, you’ll at least hit the moon.  You need to think rich.  Give yourself treats every so often by doing things like not looking at the prices on a menu on a night out.  Make your goal to be rich not just comfortable.

Have the goal to have massive wealth and abundance not just to be comfortable and be able to pay the bills.

Wealth File 3

Rich people are committed to being rich. Poor people want to be rich.

The number one reason people don’t get what they want is because they do not know what they want.  Rich people are totally clear that they want wealth.  They are unwavering in their desire and are fully committed to creating wealth, as long as it is legal moral and ethical they will do whatever it takes to have wealth.  Rich people choose to be rich firstly then commit which means holding nothing back to achieve being rich.

Wealth File 4

Rich people think big.  Poor people think small.

The law of income: You will be paid in direct proportion to the value you deliver according to the marketplace.

Are you going to play big or are you going to play small?

Here is a video I did on this recently

Would you rather solve problems for a small amount of people or a large amount of people.  The world doesn’t need people playing small.

The declaration that goes with this wealth file is very strong.  “I think big! I choose to help thousands and thousands of people”

If you want a vehicle that will help you to think big and live the life you want click on any of the banners on this page, message me on Facebook and leave a message below.

Have a great day