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Money Mind - Road to Riches
Get Rich - Your Money Mind
If most of us want to be rich, then why are so many of us poor? The truth is that most of us have a mind that is focused on poverty rather than an affluent life. These thoughts result in us doing things that result in wasting our energy to obtain meaningless stuff rather than wealth.
Most people claim that they would like money, but they are unwilling to perform the most basic tasks necessary to be wealthy. If you truly want to be rich, you must make a few necessary sacrifices.
An experiment was done many years ago, when a hundred people were given a sizable sum of money ($100,000 each) in agreement for filling out questionnaires of what they did with their money a few years later.
80% of the people who received the money had blown all of it within just a few years with nothing of value to show for it. They bought rapidly depreciating cars or spent the money on the pleasures of life rather than saving or investing the money. I have observed the same thing in most people. Almost everyone that I have seen get a large windfall soon wasted it with nothing to show for it.
16% of the people put the money in the bank to save for a rainy day. Certainly this was much better than the other 80%, but they still failed to use the money to make any appreciable long term difference in their life.
Only 4% of the people invested the money in a home or a business. They also continued to live a frugal lifestyle equivalent to their lifestyle before they received the money. This small percentage actually did something of great value with their money. Their money would make an impact throughout their entire life.
Wealth and the Money Mind
This brings us to the essential elements of a person with a money mind. What are these elements that help him or her succeed on the road to wealth.
- Save Money: This seems like such a simple thing, yet it is the foundation to success. If you don't save any money, then you will have no money to invest. There is another important reason for saving money and that has to do with an element of the Law of Attraction. The law of attraction becomes more effective with the more money we have. Money doesn't just earn money, it also attracts more money.
- Invest Money: Once you begin saving some money, you must begin to invest that money. With small sums of money, the best investments are usually in the realm of ways to increase your income. This will usually mean starting a new business to bring in more money.
- Money Money Money: In the beginning of your life of building up wealth, you must think about money and ways to attract it all the time. It should be an essential part of your own personal growth. Your personal growth should be about spirituality, healthy body, and an ability to earn money and create wealth. Money is our number one tool for interacting with our external reality.
Money Meditation and the Law of Attraction
The law of attraction states that we bring into our life those things that we think about. There are many things that affect the law of attraction. The strength of our mind (Lifeforce, Ki), the strength of our intention, and our environment. A strong mind is built upon focus, willpower, logical thinking, and harmony of thought. The strength of our intention is how much time and energy we focus on reaching our goal. Our environment can affect us and our ability to reach our goal.
Every day you should spend some time meditating and visualizing your current goals. One of these goals should be a healthy body and an active mind. The next goal should be an amount of wealth or a desired monthly income. Do not meditate upon some financial goal that might seem impossible to you. I use goals either equal to past performances or based upon current income. Doubling your wealth or income within a year would be a reasonable goal.
Money and the Power of Doubling
If I started with a penny and doubled my wealth every month, then in just 2 and a half years, I would be a multimillionaire. This is the power of compounding. It is one of the most powerful formulas for getting rich. If you don't understand this concept perfectly, then keep studying mathematics until this concept is ingrained in your mind.
It is this power of compounding that makes running your own business such a powerful tool for getting rich. Even if you have a full time job, you should be running a business in your spare time. You need a way to tap into exponential growth and working for someone will rarely be sufficient for this purpose.
What kind of part time business should you run? This would depend on your financial goals. For instance, if you want to be a millionaire, you could get there with a used car business. Take a look at different brick and mortar businesses, observe their traffic, and try to figure out how much money they make each month. I often do this when I go out to buy something. This is also a good method for reminding yourself how much money is available in the world.
Ultimately, if you are reading this, then you have within you the power to become rich and wealthy. The choice is ultimately yours. Here are some more hubs about money, wealth, investing, and my philosophy of life: