It is universally acknowledged that one of the most vital responsibilities that you have towards yourself and to your near and dear ones is to accomplish your own financial freedom throughout the course of your employment life. But how many of us realize that it is essential to change your thinking about money in different ways in order to achieve financial freedom? Obtaining monetary freedom is extremely crucial during every part of our life, including how long we live.
The wealthy think in terms of affluence
Yet another mental shift that you need to make in achieving fiscal freedom is from a consciousness of survival to that of prosperity. Majority of the people are locked into survival consciousness and they seem to be worried, protective and careful about their dollars. The wealthy generation think in terms of prosperity rather than in terms of survival. Their mentality moves from thoughts on limitation to abundance. Wealthy people look around at the world as full of opportunities to acquire and keep money which they’re constantly looking for. For them, every single thing is a way of prospering.
Studying the mindset of the wealthy – Mindset changes that you need
We often have a keen interest in studying the mentality of the wealthy and we would like to share 3 tips that laymen may follow in order to alter their mindset about money and thereby live a debt free life.
Tip #1: Think of money as a tool and not as a outcome
For most of us, money is seen as an outcome; something which we get in lieu of work and something we lose when we spend it. We use money to maintain the kind of lifestyle which we want and to pay off our bills. But very rare do we consider money as a tool. It is nothing but a thing which we get when we exchange our energy and time. To an average person, acquisition of money is just a 0-sum game. All successful men view money as nothing more than a tool which they need to do more of what they actually want. Their success entirely depends on the way they use money as tool for investment.
Tip #2: Concentrate on prosperity and not on debt
This goes back straight to the basic principle which is concerned with personal development. You should focus on the solution and not on the problem. There are many who accrue huge levels of high interest debt and once they do so they get stuck focusing on repaying their bills and eliminating debt. A powerful theme in their lives with regards to accumulation of money is centred on reducing debt and paying off bills. Although it’s great to think of reducing debt, but if you keep focusing on the problem, who will think of the solution? Hence, you need to concentrate on diminishing your debt levels while continuing with saving for future.
Tip #3: Money shouldn’t be kept in the pedestal of emotion
If you’re someone who has grown up without enough money, you might have certainly developed some strong negative emotional stances about money. Money is always viewed as a strong source of stress but though it is a major thing in our life, it shouldn’t dictate your emotional state. You may be pretty emotional about your money but never let it dictate your mood. Emotions will tend to cloud your judgment and force you to making poor choices with your dollars. So, forget getting emotional about money.
We need to be honest about the fact that unless we change our mentality about money, it is pretty difficult to get debt free. Follow the above mentioned tips to change your mentality about money and help yourself save more and spend less.