It\u2019s how we take action that defines our paths. I often talk about how to succeed in life, however, we often don\u2019t focus anywhere near enough on those areas that damage our potential of being wealthy. Do you know how to get wealthy?<\/p>\n
I have listed below the key mistakes people make when trying to become wealthy.<\/p>\n
When speaking with people over the years, I\u2019ve always been really surprised at how many people already had such certainty around the fact they would never become wealthy.<\/p>\n
The amount of \u201cI am not that lucky\u201d or \u201cI had a bad divorce 10 years ago\u201d or \u201cI have kids\u201d or \u201cI\u2019m too old now\u201d I hear is absolute madness. Wealth is not down to how lucky one is, or if they have been through a divorce if they have kids or age. Yes, sometimes in life you build up additional expenses, we know this, but this should not define your potential for wealth and future income streams.<\/p>\n
To be wealthy, the first thing you have to do is turn that mentality from negative to positive and believe that you can.<\/p>\n
Those that are just getting by, are often in that position because they choose to be, and those that are wealthy are wealthy because they got bored of being average. It’s as simple as that!<\/p>\n
So many people have the mindset of \u201cMy lifestyle will be based around my income\u201d instead of saying \u201cI want a better lifestyle \u2013 what do I need to do?\u201d and this is where the average vs successfully wealthy comes in.<\/p>\n
Some people are happy receiving their \u201csalary\u201d at the end of each month. After all, it pays the rent and bills, and a few nights out, right? WRONG \u2013 you will always depend on this one income that it just becomes the \u201cnorm\u201d.<\/p>\n
A lot of average people are paid based on hours per week, whilst most successful people are based on targets and success. They have confidence in their abilities so they take more risks which mean bigger returns in income.<\/p>\n
It is natural to believe that working hard is what will get you somewhere in life, but that\u2019s not the full story \u2013 You have to work SMART.<\/p>\n
You and your money need to be working at the same time!<\/p>\n
We have already established that our money needs to work smart as well, so another way is to increase your income streams.<\/p>\n
A lot of people focus on saving a specific amount each month, however, they forget to increase their income.<\/p>\n
Remember \u2013 do not neglect your earnings whilst focusing on your savings.<\/p>\n
I believe the most effective way to earn money over time is to invest. Having your money in the bank eroding against inflation is not having your money working hard, as rates are so low.<\/p>\n
With investing the earlier you start, the better.<\/p>\n
The good thing about investing is that you do not have to be wealthy to do so, nor do you need to understand what you are doing. With the help of a Financial Adviser, Property Adviser or trusted Mentor, you will be able to make your money work hard.\u00a0<\/strong><\/p>\n This is a common issue, especially with people just starting in their careers. They get one good bonus and they go and spend it all on a fancy watch! Happens all the time\u2026 they then don\u2019t earn anything for two months and they have to dip into their savings accounts! Sound familiar?<\/p>\n If you live within your means you have a better opportunity at being Wealthy. Don\u2019t destroy the opportunity because your circle are living it bigger \u2013 your time will come!!<\/p>\n Grant Cardone\u00a0did not buy his first luxury watch or car until his businesses and investments were producing multiple secure flows of income! \u00a0We reward ourselves with luxuries too early.<\/p>\n Another common error is that we treat ourselves before we pay ourselves. In other words, we spend before we save.<\/p>\n An easy solution to this is to set up an arrangement with your bank so that every month, just after you get paid, a fixed amount gets sent into your savings account first. You can then calculate what you have left and can organise yourself better.<\/p>\n It is always easier to accomplish something if you know what you want, right?<\/p>\n So know your dreams. Know what you want in life for yourself, for your family and your loved ones. Having a clear vision of what your dreams and goals are will make the whole journey so much more enjoyable.<\/p>\n When we enjoy something, we do it with ease.<\/p>\n If you hate your job, manager, company etc. QUIT NOW.<\/p>\n You have to have passion in everything you do in order to be successful. Whatever you do, it has to have a purpose, otherwise, you are building someone else\u2019s dream.<\/p>\n Love what you do and build your own empire.<\/p>\nYOU SPEND MORE THAN YOU EARN<\/h4>\n
YOU CHOOSE TO SPEND RATHER THAN SAVE<\/h4>\n
YOU DON’T DREAM<\/h4>\n
YOU HATE WHAT YOU DO<\/h4>\n