How To Be Wealthy and Change Your Life Right Now!
We all wish we could wake up one morning and all our problems would be gone, (I don’t, how boring would life be then…) however unless winning the lotto, a 1 in 8 billion chance, there is nothing that can significantly change fortunes over night.
Therefore, rather leaving life to chance, I have drawn on learnings from some of the wealthiest people in the world, from Jim Rohn, Anthony Robbins, Elon Musk, Warren Buffet and Jeff Bezos, to share with you how you can take action on changing your wealth right now!
The only difference between the women and men who are significantly better off than you right now is simply their mindset and how they look at the world differently.
Let me tell you a quick story on how someone was able to change their fortunes over a year and going from being in $11,400 in debt to paying down that debt and owning a house within the next four years.
The catalyst for that person came down to two things, one of which was the shame of seeing -$0.07 in their bank account and two, being unable to help a friend start a venture and supporting that friend.
So what changed? What changed from that person spending $12,000 per year on eating out, partying and getting themselves into $11,400 into debt, to owning their own home and successfully taking a step on the path to greater wealth?
Simply, it was a mindset shift, a shift from being the victim to being a person who took responsibility for their lives, their income and spending.
(If you have not guessed it, that person from above was myself, I got into a few car accidents that accrued nearly $5,400 in debt from the insurance companies and then also borrowed $6,000 from a family member to start a business.)
The difference between the wealthy and the poor is simply their mindset, yes other factors do come into play, such as where you grew up and the family environment. However, if you are stuck in a scarcity mindset, you will never be able to move into a mindset that can handle one of abundance.
Therefore, here are the top 3 mindset shifts and belief systems that you need to work on, to start changing your life, improve your wealth and your lifestyle;
Pay Yourself First!
That seems like a pretty simple one, but you would be astonished at how many people tend to pay the big fashion companies, or shoes stores, or car companies first…
As soon as you get paid, you should be paying yourself first, meaning taking a percentage of your wage and transferring it into a savings account or investing it for the future.
You just need to do a little bit of math, work out how much you roughly need to pay out in debts, food, bills, etc. And what you have leftover, pay into a savings account that you cannot touch. Becoming wealthy is just a mindset shift from being a consumer, to being a creator, a creator of your own wealth through self-discipline and giving back to your community.
Take Back Your Time!
Every day, you should be prioritising your time towards tasks and activities that will take you closer to your goals and ambitions. Not only that, but also delegating tasks and activities that is below your hourly rate. The rich get richer because they delegate roles and responsibilities that need to be done, to free up their time for the tasks and activities that are more important.
For example, you could be working full-time, however, you do not earn enough from your full-time job and therefore want to start a side-hustle or sole trader business. But, you have a family, two kids, a partner that also works full-time and house chores that need to be done.
If you could earn $100 per hour from your side-hustle, why would you not just pay a cleaner $35 per hour to clean your house?
You are still up $65 per hour!!
Therefore, take back your time, by delegating roles and responsibilities, if you are worth $300 per hour, don’t waste your time on tasks that you hate doing that are worth much less!
Finally, the most important mindset shift: You MUST Become Obsessed with Improving Your Income Streams
The really wealthy do not become wealthy just by doing one job well, they diversify the risks of losing said job or failing said business by putting earning their money from different streams.
Starting with your job or business!!
First, if you need to earn more money, look to asking for a pay rise or if in business, look to set some targets to grow the business more efficiently. Once you have developed this income stream, to the point where it has no more growth apart from inflation, you should look elsewhere for a second income stream.
The key is knowing when to do this, if you have a business, it may take a bit longer to grow your income, or it could grow really quickly, depending on the type of business, consumer sentiment and many other factors. If you have a job, it is as simple as asking for that pay rise and either getting it or not.
Once you develop a second, third, fourth and maybe even fifth income stream, you go back to the first mindset shift of paying yourself first.
Hopefully that has given you a few things to think about, as it sure changed my life and helped me to Take Back Control!
So until next time,
Take Back Control
