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As a Felicity Seeker, I know you strive to live your life to the fullest. For most of us, this includes financial freedom. After all, who wants to be poor in life?
There are endless ways to become rich in our world. However, many people underestimate the importance of the right mindset.
Because your thoughts shape your actions and your actions shape your reality. If your thoughts are not designed for wealth, your life will be just as little.
To help you on your way to financial freedom I collected 9 mindsets that you might have that are keeping you poor.
Analyze yourself and find out which of these mindsets apply to you. Above all, you have to be honest with yourself.
Read also: 7 Mindset Changes You Need To Make In 2020
Read also: 10 Mindsets Of Successful Women You Need To Adopt ASAP
1. You think money is the root of all evil
Although we live in a world that shows us daily what immense good money can do, many people still believe that money is the root of all evil.
The apostle Paul wrote: the love of money is a root of all kinds of evil.
And this may be true to some extent. Loving money too much is greed. Being greedy causes people to throw all their morals in the wind and do everything necessary to accumulate capital.
Seeing people do that is simply sad. Even more so, if you look at the unbelievable amounts of good money can create.
Money helps charities feed the starving, build houses for the homeless, educate children and give a home to shelterless dogs.
Money helps communities built churches, mosques, synagogues, sports fields, parks and playgrounds.
Furthermore, money enables us to fight diseases and environmental pollution.
Moreover money is needed for every new invention and discovery we make.
Therefore never believe that money is the root of all evil. Money is the root of a lot of good in our world.
If you want to become financially free, you have to believe money is something amazing. If you think of money as something terrible, you won´t open yourself up to earn it.
It is just like if you think that your diet won´t work. Guess what, it probably will not work.
And should you struggle to think of money as something good, always remember that the more money you have, the more you can help other people!
2. You feel entitled to money
I have talked about this before. So many people nowadays feel entitled to money.
They believe they deserve a raise, they think the government should take care of their pension and that the rich should pay for their needs.
To become wealthy, you need to stop feeling like other people should take care of your finances.
You need to accept that you have control over your financial well-being.
If you want more money, you have to be creative and create more wealth!
If you keep looking for ways to make some extra money, suddenly, many unknown doors will open up for you!
3. You are afraid to invest in yourself
” The best investment you can make is in yourself.”
Warren Buffett
As important as this wisdom is, only few people know or practice it.
I get it; investing money in yourself is scary. Trust me; it has been very uncomfortable for me to spend the money necessary to start this Blog.
But the truth is, not only are you the only thing you can ever have full control over but investments in yourself will never be lost.
The knowledge and skills you will acquire through books, courses and seminars will accumulate and make you your most valuable asset.
You will be able to make money out of many different sources and with increasing ease.
But you have to take the first step and invest in yourself. Nobody else will do it!
4. You follow the crowd
Peer pressure is intense, we all know that. But to become rich, you have to withstand that pressure and start swimming against the stream.
Because unfortunately, the crowd isn´t wealthy. They obviously don´t know how to become rich so why should you do what they are doing?
The best example is the stock market. Whenever the stocks are dropping many inexperienced investors frantically start to sell their shares, which makes the value drop even lower.
For all the successful investors, this is like Christmas!
They can get the stocks for sale, and once the value rises again, they can double or triple their wealth.
If you follow the crowd, you will only arrive at business opportunities that have already been exhausted.
To become wealthy, you need to find opportunities before they are trending.
5. You think “I can’t …”
There we have it again. Another common limiting mindset of our society.
Nowadays we regularly speak and think in negative terms.
We talk about things we “can´t do”, “cannot afford”, “don´t want” or “will not”.
We focus way too much on the things we can´t do,
This creates a problem.
Once you think “I cannot be successful” or “I will never be rich” your brain stops working.
You need to ask yourself “How can I be successful?” and “How can I become rich?” This way, your brain will start creating solutions for your problem, and you can work towards your goal.
So stop telling yourself you can´t afford something and start thinking about how you can afford it!
Read also: 9 Ways To Overcome Limiting Beliefs
6. You don’t know the difference between being able to buy something and being able to afford something
This one is huge! Because so many people get it wrong.
The financial ability to buy something does NOT mean you can afford it!
Let´s say you have 2.000 € in savings. Technically, you can purchase that luxury Maldives holiday.
But are you able to afford it? If you only have savings of 2.000 € then NO!
Being able to afford something means that the purchase will not impact your financial situation gravely.
You will still have enough money to spend on the necessary and valuable things.
Whenever you have to check your bank account to make sure if you can afford the new iPhone, this is a clear sign that you cannot afford it.
Instead, use that money and invest it into assets. That way, your money will start to work for you, and with some patience, you will be able to afford a new iPhone.
7. You focus only on one stream of income
If you are guilty of this, it is not your fault. It is what they teach us at school.
We have always been taught to find ONE good job that pays the bills.
But there are two flaws with that concept.
Number 1: For many people nowadays, one job isn´t enough to pay the bills. Over the last few years, there have been multiple studies that found that an increasing number of people have a second or even third job to bring in the necessary money.
Number 2: With one stream of income you are sitting on a one-legged stool. The problem with that is that you are dependent on that income.
Should it disappear for whatever reason, you have to scramble to find a new source of income before your savings run out. And sadly, most people do not have enough savings.
You need to diversify your streams of income. This is how you can live a careless life and do not have to worry about the next financial crisis.
8. You focus on active income
Most people nowadays earn active income. Meaning they trade their time for money, usually in the form of employment.
This concept also has two issues.
Number 1: You only have 24 hours in a day.
Meaning the time you can trade for money is limited. So the only way to earn more is by increasing your pay rate.
But as an employee, you only have a limited leeway to get your boss to give you a raise.
Number 2: You could lose that job tomorrow.
The word job can be seen as an acronym for “Just Over Broke”.
If your only stream of income is your job, you need to have good savings. Because they will be your only parachute should your boss decide to pull the floor away under your feet.
The worst about having a job is that you have no control over being fired.
Sure, if you behave like an idiot, they will kick you out for that reason.
But other causes can be bankruptcy, the merging of two companies, a financial crisis, the takeover of your company or outsourcing.
You have absolutely no control over any of that. And all of those scenarios are things that happen daily to dozens of companies.
9. You think you don‘t care about money
Finally, we come to our last but certainly not least important point.
No matter how much you try to tell yourself that you do not care about money … you do care.
As long as you do not live inside a cave or on a desert island you care about money. Simply out of necessity. Without money, you won´t have any food, clothes, housing, electricity, water and so much more.
We live in a world directed by money. And while many people may curse that, it is actually a wonderful thing. It has enabled us to rise to a powerful and highly intricate society.
Because money is so important, you need to put in the effort to become financially literate. That might be one of the most important skills any person can have.
But for some inexplicable reason, not even our educational system teaches us about it. And we always thought school was designed to prepare us for life.
If you want to become financially literate, you have to educate yourself.
With the amount of free content online, this is incredibly easy.
But if you want to go deeper into the topic, I recommend you to read the Rich Dad Poor Dad series by Robert Kiyosaki.
That man has made it his mission to shine a light on the topic of money. I can highly recommend his books!
If you want to go even deeper into the whole topic of money and investing check out my Reading List for Personal Growth. I compiled my favorite life-changing books on subjects from Finances, Relationships, Mindset and more.
Reading those books and implementing the information you learn can really put your life to a whole new level!
So what do you think, Felicity Seekers? Do you believe these mindsets can bring you closer to financial freedom?
On which of those points do you need to work the most?
Comment down below! I´d love to hear your thoughts.
