Are you listening?
Words have power and are a person’s most important tool. The words you speak are the words you think and what you think - you become!
If we had a five minute conversation I could tell you weather you will be poor, middle class or rich. Whether you will be a vibrant, healthy risk taker or a voyeur on the film of your life. If you listen to your words you can begin to hear how you can change the status of your wealth.
Poor money managers have small goals. They are looking for “just enough” to survive until the next event - payday, Friday, etc. This group has lack thinking regardless of how much money they make. This group often says things like:
-I can’t afford that.
-We will never have enough for that.
-I just want enough money to pay the rent.
-Do you think I am made of money?
-I just need a few dollars to get to the next pay day.
-After I pay my bills, I don't know how my family can afford to eat.
-It’s a dog eat dog world out there.
-Those people get all the breaks.
There is a difference between being poor and being broke. Broke is a temporary situation while poor is a state of mind. That state is called “I CAN’T”.
The next group is the money hoarders - the ones who think holding on to their money is the right way to get rich. They tend to be the middle class and focus on status quo and comfort. They realize the power of a budget and know how to save money. They say things like:
-Our home is our most important asset, our largest single investment -and we can’t wait to have it paid off.
-We’re saving so we can afford the down payment on our dream home.
-We’re saving money for our children’s college education.
-We are maxing out our 401k plan.
-I don’t want to be rich. I just want to be comfortable.
-A penny saved is a penny earned.
There is a difference between having money and accumulating wealth. Comfort money lasts but a single generation. You will have a nice home, nice family, nice life, but you will not accumulate wealth. You will not gather assets that can create multi-generational wealth. You live in a state called “GOOD ENOUGH”.
Great money mangers and the rich focus on words that are investment focused and use money as working assets. No lack thinking and no comfortable language. They take risks, they make sacrifices for the long term play, and they do what others are not willing to do. They are will to fail over and over to achieve success. They say things like:
-I’m going to start this business on the side to add to my streams of income.
-Will I finance my business through an investment or debt?
-Can I get in on the ground floor of that investment?
-What are the tax consequences of this decision?
-Would it be better if I purchased the building instead of renting?
-How can I make money at that?
The rich are rich because they don’t spend money the make investments. They focus on the long-term acquisition of assets. Assets such as stocks, bonds, businesses and income producing real estate. Many times the rich will forsake meals, a steady pay check, a vacation, or the comfort of a nice home, to build or acquire real assets. Regardless of how much success they have accumulated, they continue to build businesses, reinvest in their businesses and invest through those businesses. They live in the state of “I CAN AND I WILL.”
I still do work for start-ups who can’t afford t pay me – I get a piece of their business instead of money. I take calculated risks with my time and talents. About 80% of the time I never get a return on my time – but the other 20% is magic
3 Steps to take this week to move you to Money Mastery:
1. Take this week and listen to the words you use about money and assets. Really listen. Use a journal and ask yourself questions about money. Questions like:
How much money do I need, how much do I want? How can I begin to make my money work for me? Am I rich? How much is rich? What do I want to leave my children and grandchildren. What charity would I like to support? I am I willing to take a few risks or am i afraid of losing what I have?
2. Eliminate the words “I can’t” and “that’s impossible” for just one week. Words like “I can’t” create limiting behaviors. We have no idea on the upward limits of mankind. Just a few years ago a 4 minute mile was “impossible” and not it is routine for world class runners. Instead use words like “How can I”, and :”This may be difficult, but i can”. See how your mind starts to look for solutions instead of limitations. The only change in reaching 4 minute mile is that someone actually did it – then everyone believed it could be done. I actually believe YOU can be RICH. Now I need you to believe it can be done. If I did it – you can too!!
3. Identify your excuses. We all have them. Mine sound like this - “I’m almost 60 and only have so many good years left.”, “Who would listen to me?”, “What do I have to offer?”. What are your excuses?
If you have questions or comments you can contact me at my email firstname.lastname@example.org. Find me on Facebook, Twitter or Instagram @cindybbrown777
Join me every Wednesday on my podcast “Unlocking the Secret to Living Rich”.
Who is Cindy Brown? Cindy is a CPA, MBA, CFO, board member of public and private companies, business consultant, entrepreneur coach and a foremost expert in the field of financial mastery. Cindy’s purpose is to motivate, educate and inspire people to live their richest life. She is the host of “Unlocking the Secret to Living Rich”.