Putting Your Mind Right| 6 Wrong Money Mindsets To Avoid

The potential for wealth creation is arguably present in every human being, but like every other natural endowment, it requires a level of cultivation. In simpler terms, anyone can make money, but only those with the right mindset acquire and sustain real wealth.

Learning how to change your mindset about money goes a long way in impacting your ability to create wealth, and if by chance you gain access to a massive cash flow, you need the right mindset to multiply and retain such wealth.

The popular saying as a man thinks in his heart, so is he further emphasizes the crucial role of an individual’s perception of life and beliefs about money and wealth creation determine what becomes the reality of such a person

Far too often, you will find that most lottery winners end up losing all their money due to their inability to invest wisely and grow their newfound wealth. As the year winds down to a close, it is important to do away with unproductive money mindsets that may limit your ascension and how far you can go in life.

Here are a few to do away with:

1. To be wealthy, you have to be corrupt and morally bankrupt

Not every wealthy person went down the wrong path before becoming successful. Many believe before you can become extremely wealthy, you must be ready to break rules, cut corners, lie, cheat, steal and use every shady tactic in the book. This is far from the truth. Many have become great through years of hard work and diligence. They do not compromise on their integrity, and life has rewarded them with opportunities that have translated into wealth.

Here are a few negative money mindsets to do away with before the end of the year:

2. I deserve more than I am earning right now

One of the easiest ways to acquire lasting legitimate wealth is by providing value. You will become wealthy if you continue to create value. While it is natural to feel you should be earning more than you do, the question you should ask yourself is how much value is my bringing?

Honestly answering this question allows you to accurately identify the reason you are where you are, your deficiencies and how you can scale up by earning more skills to improve your proficiency and ultimately, your value.

The digital age has brought the world together in a unique way that valuable and impactful individuals are highly sought after and many can even cross borders to fill a role in a different locale.

So, ask yourself what skills you need to make more money.

Which skills do I need to acquire?

When you understand value deployment, you will more than double your income.

3. Not all of us will be rich

Resting on your laurels and wading in this belief is either defeatist or just an excuse for mediocrity. Even though it is true that not everyone will attain greatness or financial abundance, it is also true that every man has the innate ability to become whatever it is, they desire to be.

Wealth responds to value. The more value you can give, the more people are willing to pay. This means that everyone can be wealthy as long as they increase their value (through skill acquisition and training).

4. I will hit it big one day

Every overnight success is the result of many sleepless nights. No man attains greatness by chance. In most cases, you will find that several hours, were given to attain mastery for a performance that may not be more than a few minutes. This also holds for wealth creation. It has to be built up gradually over time.

Nature always seeks to find balance, and funds will always circulate from those who are unable to manage them to those who can.

5. I want to be successful, but I don’t have time to work on myself

It is a well known principle that good things do not come easy. Most of the time, you will have to work hard before you achieve anything lasting. A degree takes time to complete. Learning anything worthwhile takes time. It is, however, easier when done deliberately. Spend everyday improving yourself by reading a book, listening to informative podcasts, and generally protecting your space and the components you permit around you. What you attract will be determined by who you are.

6. I will outsource my investment decisions

We have repeatedly stated that trusting a third party to manage your money is a bad idea. Outsourcing the responsibility of growing wealth to someone else is not advisable. You should be concerned with how and where your money grows. 

Alternatively, you can create your own investment strategy and seek professional management. You are the primary architect of your own destiny.

Conclusion

The mind is the seat of consciousness, and it influences every aspect of our lives more than we realize. This is the reason having the appropriate money mindset is critical, as it governs how wealth enters and exits our lives.

You are already on your way to accumulating long-term wealth if you have the right mindset.