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Why a Poor Mindset Won’t Make You Rich

Business, finance, and psychology in review

How often do you encounter people that say they want to be rich? Likely, on the regular. Among many reasons, one of the most popular one from people would be to never to have to work again. However, they are often the same people that end up using their free time to play video games, partying, or wanting to have the latest iPhone. 

My point is, most people want to be rich; however, they don’t put in the work to change it – they focus their energy on poor decision making and therefore stay poor.

So, it’s not about whether you have the money or not that will make you stay poor, but instead, it’s about the state of your mindset and your actions. The same action, that will determine if you will succeed or not.

You can save money, but don’t save on the mindset

Most people will tell you that the only way to become rich is to save money and stash it away in a savings account.

However, that just means you’re moving money around. While you may end up having accumulated a few extra dollars, in the end, it won’t make you rich. 

Does saving a few dollars a month make a difference? – Certainly not.

This is a poor people’s mindset – only trying to make ends meet. If you are taking that path, then, of course, you need to save as much as possible and live below your means to get ahead even a little bit. 

However, if you are within the middle class trying to make it to the upper class, this won’t apply.

If you want to make a create a lifestyle change, that shouldn’t depend on buying that cup of coffee at your local coffee hangout. 

So, if saving money won’t make you rich, what will? Let’s explore this further. What if instead of saving those $100 per week/ month, you’d find a way to generate an extra $100 a month?

You get to keep the small luxuries in life while generating an extra $100. This is the exact kind of mindset that will separate the rich from the poor. Rich people know they can only save so much, and, in the end, it won’t make a difference because you will just end up moving money around. Instead, focus on generating extra income, so you can enjoy what you have currently, while you consistently work towards expanding your means.

Early on, we are taught to work hard to make money; the harder you work, the more money you will have – correct? This couldn’t differ more from the truth. Education is the key, and I’m not talking about getting a fancy degree. I’m talking about financial education, like finance books authored by real success stories, or financial seminars, or even hiring a financial planner. It’s a problem you can fix by taking these actions and educating yourself and overcoming your financial shortcomings. 

The rich people’s mindset knows that excuses don’t make a difference, but actions do!

Do you have a financial blueprint? Grab a complimentary seat to learn how to “Crack the Wealth Code” on my next masterclass. Learn how to invest your money instead of saving and living below your means.

Your psychology and the wiring of your brain

What if I told you that our brain is wired to choose the easiest (or laziest) route there is? Our brain is programmed to save us time and, therefore, not working to its fullest potential most of the time.

When making a decision, you are using 3 internal systems: heuristics, statistics, and logic. Heuristics being the most used one because it is based on intuition. While statistics and logic are based on knowing as many facts as possible in a certain scenario. The heuristic system will just pick the easiest and fastest – laziest way possible based on the least number of facts.

While heuristics is a good start, and you should trust your intuition, when it comes to generating wealth, you want to focus on logic and statistics – knowing all your facts and evaluating them based on your best survival chances. 

Therefore, a poor person’s mindset will tell you just to skip the morning coffee to save money because it doesn’t take much work. In contrast, a rich person’s mind will lead you to think about generating additional money, which would entail doing more work. 

A poor mindset is detrimental to your success because it sets you up for laziness and inaction; while you might not drop in wealth, you will definitely not grow wealth either.

Read: The Life of a High-Performance Entrepreneur Here

If you want to rewire your brain, you will need to put in daily consistent work because the reality is, if you don’t, you allow yourself to be controlled by your current state of mind. 

So, take back the control and make your own conscious decisions for your success.

When you let yourself be guided by heuristics instead of making conscious decisions yourself, you set yourself up for failure. Most people who live this way are unsatisfied with their lives and find excuses for why things don’t work. Instead of taking responsibility for their decision-making, they find excuses for why it didn’t go their way. Not to mention, jealousy will eat upon them. Instead of being happy for their coworkers or friends for hitting success, they let their feelings once again control them. 

All it would take to control their thoughts and actions, is by making conscious decisions, like a disciplined athlete.

Unsure how to design efficient routines in life that will drive success? I have a dedicated program that teaches how to achieve the next breakthrough in your personal life and business.

Thoughts that make or break you

When you learn about a new opportunity to make additional money – do you think it’s as a scam, or are you doing your research to back up that potential opportunity? This viewpoint alone will set you apart you from others. Our brain is wired to protect us from new things because it could be dangerous (and causes us to experience anxiety); therefore, you need to discipline yourself into evaluating it’s potential instead of having your brain take over control by shutting you down.

Limiting beliefs about money won’t get you anywhere either, and will only hold you back. The Law of Attraction, which governs your ability to manifest anything in life, will take in effect and bring it to life. 

You can manifest abundance and rewire your brain for success to get you where you want to go.

As you start replacing your thoughts and beliefs, it will start to change your habits and actions too. This is not a process that happens overnight; however, it won’t happen at all if you don’t take any action to get this process going.

I like to use a journal and my dream quadrant to visualize my desired outcomes in life. The more often we look at something and think of it, the faster our subconscious mind can start to believe it.

Lastly, not only is your brain controlled by intuition and heuristics but also by your surroundings. We are influenced daily by media and advertisement. One of the most common beliefs that we’ve been taught since childhood is that money won’t buy happiness or that rich people are greedy. However, there are no studies nor evidence that these statements are actually facts. Many times, these statements are a result of being in denial or to make ourselves feel better. In fact, many times, rich people are happy, and they want to share their happiness by donating money. Money is a tool that can enhance your life, but it entirely depends on how you think about money, and therefore how you use it.

Here’s a common scenario I hear from our students… you worked hard on attracting extra clients; however, you didn’t close. In order to make yourself feel better, you might start thinking, “Oh, I’m so busy, I wouldn’t have been able to take them on anyway,” or “I didn’t want them anyway”. Again, this is a self-sabotaging way of thinking governed by our brain.

While your mindset is a byproduct of your past and your surroundings, you can still overwrite and control it by associating yourself with the things you desire. Cultivate yourself with things and people that help you grow – surround yourself with successful people if you want to be successful.

Rewiring your brain also entails becoming aware of what’s actually real and what is detrimental thinking caused by your brain to protect you. The more aware you are of your thought process, the more you are in control.

Want to learn how to rewire your brain for high performance? Take advantage of my risk-free high performance program, I will personally coach you and help you develop a Millionaire Mindset and teach the habits that will drive success in all areas in life.

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