The journey to a“make money” mindset can be tough, especially if you have ingrained ideas about money and wealth. For example, some are all for that “work hard, party harder” hustle culture, while others prefer doing only what is necessary for the sake of . The following tips can help you get on the path of abundance, whatever your philosophy.
Ready to get rich? (Or at least, rich in theory!) Let’s dive in.
Start From a Mindset of Abundance, Not Deficit
Any finance expert will tell you that having a mindset of abundance matters. And no, that doesn’t mean spending money you don’t have and living lavishly to attract more wealth. Financial fitness coach defines it as having a positive attitude towards money and believing that there are plenty of resources and opportunities available to you. It’s abandoning negative ideas like, “I could never afford that,” or toxic ones that bring other successful people down.
It also means turning wishes into goals and creating a plan for the latter. Coming from a place of abundance, even if it’s just aspirational, instantly puts you at an advantage because you’re thinking positively. In a “deficit” mindset, you’re shutting things down before they can even begin, which is not how you make money.
Think of Developing Multiple Income Streams
Once you’re used to the perspective of abundance, consider adding one or two income streams to your roster. If you have a full-time job that demands a lot of time and energy, look for low-maintenance passive income sources. These include writing e-books, renting out a place (or parking space!), or being an affiliate marketer.
To activate that radar for income-generating opportunities, start by assessing your current source of funds – what skills does it entail? Next, list down other skills and resources you may have that can be useful to others. And finally, look at your various for potential “rakets” that you may have ignored before. Plotting all these on a sheet or chart can help you be more aware of the opportunities that come your way.
Don’t Be Afraid to Embrace Calculated Risks
If you want to make money, you have to take risks. That’s just how it is. Sometimes, this involves risking a portion of your savings, other times, it’s a chunk of your time. Ask yourself, “What is holding me back?” and address these concerns one by one. Are you surrounded by risk-averse people? Consider their advice, but do your research, too! Are you worried you might lose everything? Set aside a fallback fund before going into anything.
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Make Space for New and Better Things
Clutter keeps you from living your best life. It makes you feel crappy from the moment you wake up. If you’ve never seen your home without clutter, maybe you won’t know the difference, but for the sake of this exercise, try . A clean and organized environment will energize you and make you feel more in control of your situation. It also creates room for new and better things.
You could also make space financially by looking at your monthly expenses. It’s a scary job but someone’s gotta do it – and that someone is you. Are you subscribed to apps and websites you don’t even use? Are you still paying for your ex’s Disney+ account? Are you up-to-date with your bills? Cleaning up this aspect of your life gives you peace of mind, too.
Focus on Your Growth as a Person and Professional
In his book How Rich People Think, self-made billionaire Steve Seibold says rich people believe money is earned through thinking, while the average person thinks it’s earned through time and labor. That is, people who make money use creativity more than they put in the hours. This doesn’t mean having a 9-to-5 is somewhat detrimental to your progress – just don’t let it make you complacent and keep you from dreaming big.
If you want to subscribe to this idea, train your mind to focus on your growth as a person and a professional. Try taking courses related to your line of work so you can charge a higher fee, or consult a life coach to develop habits that are tailored to your . Even if these don’t directly contribute to your income, they help you grow and, therefore, put you on the trajectory of bigger and better opportunities.
Respect Your Money
Finally, show your hard-earned money some respect. This is different from worshipping money, which can only lead to a toxic way of life.
There are various ways to show respect. First, handle your cash well. Fold them neatly in your wallet. Don’t leave your bills crumpled in your pocket, as they can fall out easily. Be diligent with your finances, too. Second, show gratitude by living within your means and being conscious of your spending habits. And finally, give generously, especially when it would bring joy to another person. Buy your parents a nice gift. Donate to children’s charity.
Anyone can adopt a healthy “make money” mindset by slowly embracing the concepts above. Do this at your own pace and don’t compare yourself to others. Most of all, enjoy the process, a.k.a. your road to .