How Did You Develop These Money Beliefs?

Often, the belief that money is hard to come by is not truly your own. Instead, it's likely a notion you've adopted from your parents or those around you.

You may have grown up hearing phrases like "A penny saved is a penny earned," or experienced financial instability due to your parents' low-paying jobs. Changing your perspective can be particularly challenging if you come from a financially constrained background.

Motivational speaker Jim Rohn famously stated that we become the average of the five people we spend the most time with. While this holds some truth, I'd argue that the individuals we surrounded ourselves with during our formative years have a much greater influence.

Many of us had role models in our childhood. My maternal grandmother was mine. She viewed money as inherently evil, believing that those who had more were more likely to become corrupt.

Whenever troubling news broke on TV, she would remark, "If people were satisfied with what they have, we wouldn't hear such awful stories."

It was challenging to question her perspective, especially as a child. For a time, I genuinely believed her views.

This reminds me of comedian Dave Chappelle's reflections on his financially difficult upbringing. When he expressed concern about their financial situation, his father wisely remarked, "David, you're not poor. 'Poor' is a mindset, a mentality that few escape. Our current situation is just a temporary financial state I hope to change someday."

If we follow my grandmother's logic, does that mean Chappelle transitioned from good to bad simply because he became wealthy? This line of reasoning seems flawed.

If your childhood hero was someone like "John the Penniless," it's clear you need to adjust your mindset. Unfortunately, such changes are not easy to implement.

While we all crave abundance, achieving it requires more than merely wishing for a different mindset. Our brains aren't designed to erase "negative" beliefs and instantly adopt "positive" ones.

You can't expect to wake up one morning with the entrepreneurial spirit of Elon Musk; it's not how our minds work, though it would be nice if it were.

Our true strength lies in the adaptability of our brains. However, this transformation is gradual, and those seeking instant results may find themselves disappointed.

Can You Earn Money Without Changing Your Mindset?

Yes, absolutely. However, there's a catch.

Every time you embark on a new money-making venture, your ingrained beliefs will accompany you. It's akin to dragging a ball and chain along with you. This additional mental burden won't make your journey any smoother.

You may find yourself viewing new opportunities through an outdated lens. Ironically, if you do achieve success, you may feel unworthy of the money earned, dismissing your accomplishments as mere luck and doubting your ability to replicate that success.

Moreover, with a stagnant mindset, you might struggle to keep the money you earn.

We've all heard tales of lottery winners who quickly lose everything, fall into homelessness, or even take their own lives. I can't fault them; they simply approached their newfound wealth with a flawed mindset.

A few years ago in my hometown, a man who owned two restaurants and a car wash service won nearly $3 million in the lottery.

Everyone I knew complained, "Why did the rich guy win the lottery?" (And, as usual, God remained silent.)

I was the only one pleased for him, confident he would utilize that money wisely. Today, he owns five restaurants, a hotel, and two car wash services. His family is thriving.

What Mindset Do Wealthy Individuals Have?

Wealthy individuals understand a crucial principle: money is a depreciating asset.

Spending time and effort earning money only to use it on bills, rent, or food is not wise. Instead, the wealthy believe that money should be utilized to generate more money in the most efficient way possible.

Warren Buffett once stated:

"Money has no utility to me. Time has utility to me."

When faced with financial constraints, those with a prosperous mindset focus their energy on acquiring skills that will help them maximize their earnings quickly. They aim to stop trading time for money and instead invest money to generate even more.

They actively seek and attract significant sums. While it may be tough to adopt this perspective during financial struggles, consider this:

How much money has passed through your hands over the last decade?

You may not have a precise figure, but remember, you held 100% responsibility for that money. Similarly, the money that will flow through your hands in the next decade will also be entirely your responsibility.

Of the amount you managed in the past ten years, how much did you invest to create more wealth?

If the answer is none, it's clear that some adjustments are necessary.

To make better decisions, you must change your thought processes. However, before diving into that, it's crucial to…

You Need to Identify Your "Why"

Before attempting to shift your mindset, it's vital to clarify your reason.

Pause and ask yourself: Why do you genuinely want to accumulate wealth?

Take a moment to jot down your primary reason for pursuing greater financial success.

Have you written it down?

Excellent, let's move on.

If your reason revolves around seeking comfort and believing that money will provide that comfort, brace yourself for a revelation.

The truth is, the path to financial success is seldom comfortable.

To thrive, you must prepare for significant discomfort.

It may seem contradictory: you desire comfort but must confront discomfort.

How do you reconcile this contradiction?

The answer is clear: Embrace discomfort without expecting financial gain.

As David Goggins advises:

"Do something that makes you uncomfortable every day."

I recommend tackling this challenge first thing in the morning. If you delay, thinking you'll handle it later, you may not.

Commit to this practice for at least two months until it becomes a part of your daily routine.

Simple actions, like taking a cold shower or committing to a morning workout, may not directly increase your wealth, but they certainly cultivate a wealth-building mindset.

For example, Andy Elliot, CEO of The Elliott Group, hires only individuals with six-pack abs. While this may seem like an unusual criterion, it evidently works for him.

Consider this: If you can't endure minor discomforts for just two months, how can you expect to muster the commitment and resilience necessary for a successful venture?

If your motivations for financial goals are rooted in something more profound, you're on the right path.

However, flaunting potential future wealth to friends or family isn't a genuine reason; it's merely wishful thinking.

Nonetheless, you may still need to strengthen your mindset to withstand significant challenges.

Ultimately, let your reasons anchor and motivate you.

When obstacles arise, use your "why" as fuel.

If you haven't yet identified a compelling "why," don’t be discouraged. Even if you feel lost now, you will eventually uncover your guiding "why."

Until then, consider self-improvement content as entertainment, understanding that true transformation requires more than passive reading.

How to Change Your Mindset

The first step is to acknowledge that your thinking needs adjustment.

Change will be impossible if you don't genuinely desire it. Many people claim they want change, but when it comes time to put in the effort, they simply give up.

Next, you must become your own drill sergeant. No one is going to push you; you must be your own motivation.

Now for the tough part: attempt to mentally alter the flow of thoughts in your mind.

For instance, if you currently believe that money is hard to earn, what if you began to believe that money is easy to obtain instead?

Integrate this new belief into your daily life and apply it to various situations.

While this may lead to some unexpected thoughts, view it as a mental exercise.

Your goal right now is to eliminate outdated beliefs. The process of generating income will follow.

For example, if you're walking down the street and see a car you desire, your old mindset might instantly reject the idea, claiming you can't afford it.

A new perspective, however, suggests that money is readily available for purchasing such items.

Start brainstorming ways to afford it, asking questions like, "How can I make that happen? What are straightforward methods to earn enough for that car?" (And just to clarify, I'm not promoting illegal activities.)

While mere thoughts won't automatically lead to success, they do lay the groundwork.

After all, how can you expect to earn money if you're not thinking of efficient ways to do so?

This mental exercise requires consistent practice until it becomes second nature.

Initially, you may struggle and feel like you're dragging yourself out of a mental fog.

Don't let setbacks discourage you, and avoid being overly critical of yourself for early missteps. Your mindset will evolve over time.

Whenever you catch yourself slipping back into old thought patterns, consciously switch back to your new mindset.

Sometimes, your mind will generate brilliant ideas. Write them down, no matter how outlandish they may seem.

Keep a running list on your smartphone and continually add new ideas. While many may appear impractical, some will undoubtedly hold potential.

It may take several months of diligent practice before this mindset becomes second nature. Once it does, a world of opportunities will genuinely open up for you.

Why Simply Changing Your Mindset Isn't Enough

Altering your mindset is just one step; you also need to protect it. Here’s how:

First, it's crucial that those closest to you ideally share a similar outlook. This may involve having an honest conversation with your spouse or partner.

Getting someone to change their mindset can be challenging. If they resist, don’t force it. Just express your intentions and hope for their support.

The final piece to transforming your mindset is taking action — and I mean significant action. With the right mindset, nothing can hold you back.

Maintaining a wealth-oriented mindset while facing financial hardship may seem contradictory. But let me illustrate with a story.

Imagine strolling down the street and spotting a building covered in graffiti.

A thought occurs: "This looks like an opportunity."

You approach the building’s management about removing the graffiti. They express interest but are concerned about potential wall damage.

You reassure them that there are solutions and take a picture of the graffiti.

A quick Google search for "Low-Cost Graffiti Removal Services near me" connects you to a potential service provider.

You ask, "How much would you pay me if I bring you a client?"

After sharing the graffiti picture, they quote $300 for the job and offer you a $50 commission.

You return to the building’s management and propose: "I spoke with a professional. Due to the wall's porous nature, special chemicals are required to avoid damage. The cost would be $400. Does that work for you?"

They agree.

You then negotiate with the graffiti removal service, securing $100 for yourself by emphasizing that you've arranged a higher price for them.

In this scenario, everyone benefits: The building owners resolve their issue, the graffiti removal service gains a new client and earns more than their quoted price, and you pocket $100 in no time.

With your previous mindset, you might have walked past that graffiti-laden building countless times without seeing a potential opportunity.

Opportunities like this abound, but an outdated mindset may prevent you from recognizing them.

Keep Your Emotions in Check

Once money starts flowing in, use it to generate more wealth and avoid unnecessary spending.

Many individuals have an emotional attachment to money, often without realizing it.

They might experience joy, fear, sadness, or anxiety related to their finances.

However, here's a fundamental truth:

Money is not emotion.

When you remove fear and other feelings from the equation, the process of making money becomes logical.

In reality, money is one of the most logical concepts; it's simply a number.

Do you feel emotional about the number 646,543? (Just a random number, for the record.)

Would that number evoke fear if it appeared in your bank account?

Additionally, be prepared to resist the influence of those who can't manage their emotions.

When a significant sum of money enters a family, suddenly, everyone has urgent needs: "I need a new car." "We require a new house." "Let's vacation in Hawaii."

I often found myself thinking: "Maybe I need a new girlfriend."

I would argue that mastering emotional detachment in financial matters is a skill you should prioritize above all else.

What I Want You to Learn

The journey from "money is hard to make" to "money is abundant and available" isn't just a change in language but a profound shift in perspective.

Making money isn't about creating it from thin air. Money already exists; your task is simply to attract it.

Transforming your mindset, while challenging, signifies a commitment to a life filled with possibilities. By shedding your old beliefs, you will not only change your views on money but also perceive the world with fresh eyes.

Even if you can't identify the mental barriers holding you back, it’s crucial to acknowledge their existence.

You must liberate yourself from this self-imposed prison. Unfortunately, this is a journey you must undertake alone. But rest assured, it is achievable.

Countless stories illustrate individuals who have risen from their lowest points to achieve remarkable success.

In the grand narrative of life, wouldn't you prefer to be the author of your own story, brimming with abundance and prosperity, rather than merely a spectator?

The choice, as always, is yours.

What will you decide?

The first video discusses how your beliefs about money may be hindering your success. It delves into the mental roadblocks that can prevent individuals from achieving financial stability and offers insights on overcoming these challenges.

The second video highlights five common beliefs about money that might be keeping you poor. It challenges conventional wisdom and encourages viewers to rethink their perspectives on wealth and abundance.