Saving money is not only about having creative cost cutting strategies, but also about making the right decisions and setting the right mindset–the rich people mindset.
You can be broke making $300,000 per year, but rich making $50,000 per year. It’s not just about how much money you make, it’s about how much money your money makes you. How long can you survive without another paycheck? It is all reliant on lifestyle choices and spending habits. Educate yourself. Financial wisdom and literacy come above else.
Rich people achieve success as a result of their mindset and daily habits. Rich people are not smarter, luckier, and certainly not better than the rest. It’s just that they do something that poor people don’t. They become rich by being excellent in doing something, or by doing something that nobody has dared to do.
Mindset is important–your brain helps you save. When you can finally identify the things that are necessary and the things that are not, you become a smarter consumer who spends wisely and saves money. And this is one step to becoming successful.
Here are some rich people mindset you need to adopt this year:
“Stop spending money to look wealthy. Save money and be wealthy.”
Live below your means. If you want to save money, you have to spend less than you earn. Don’t buy a $1000 bag to have nothing in it. Buy a $75 bag to have $925 in it. Don’t go into debt trying to impress others.
Wealthy people do not try to impress people who are poorer than them. Wealthy people invest. When you are given $1000, come back with $100,000, not with an iphone. Stop that broke-man mentality and start thinking about growth. Invest.
Stop Making Excuses
Listen, you can’t direct deposit excuses. Stop lying to yourself and start working. Be stronger than your excuses. If you don’t earn enough to save money, find a second job. You can babysit, take a freelance job, or start a vlog.
Stop being rich in excuses and poor of success. Adjust your thoughts and habits.
If you want to be rich, you have to act rich. What we think about ourselves impact how well we will manage our money. Focus on learning and improving and not about getting rich. Get into the habit of wanting to learn, and start learning.
To be able to save better, have multiple streams of income and start thinking about the future. Again, invest. No richest man in the world has ever made it as a salary earner. With a growth mindset, you are positive and you look forward into the future with goals and strategies. Having this mindset alone brings you halfway there. Set clear goals–quantifiable and measurable financial goals. Frequently check your progress and commit to learning.