Your mindset, and your wealth are intimately connected. And how you think has a direct impact on your life, your relationships and your health but it also has a major impact on your wealth.
How so? First, it’s important to understand that we have two minds:
First, your conscious mind. This is where your everyday awareness is. Your decision making, your reasoning, judgments, your happy thoughts, frustrations. You have direct control over your conscious mind.
The second area is your subconscious mind. This is a data-bank for everything, which is not in your conscious mind. It stores your beliefs, your previous experiences, your memories, your skills. Everything that you have seen, done or thought is also there.
Your subconscious mindset, beliefs and attitude are developed from an early age from your parents and or surroundings. This area is often not ever recognised, but has the power to run your whole life without you ever having a awareness of it. It is those programs that are running your life, and can be running in the background ALL your life, without you ever knowing.
How does your Mindset affect your Wealth?
Think of the language you use around the topic of money. For example, I Can’t Afford It.
How often do you think / say this to yourself? What did your parents or grandparents say about money? Money doesn’t grow on trees. Money is dirty, work hard, we can’t afford, money is the root of all evil.
This is where your subconscious beliefs around money were formed, and are now to varying degrees, influencing your unconscious actions, reactions and behaviour.
The Subconscious & Super-conscious Mind
Your subconscious mind also works on two levels. The data-bank and the powerhouse. The powerhouse works to your advantage when you are clear and focused. In this state, your mind quietens, your subconscious becomes your super-conscious, powerfully supporting you in your clear vision. This is why a plan is the key to success. It disengages those old beliefs and memories to become your biggest supporter.
Planning helps focus the mind, engages the heart, mitigates risks and obstacles in order to move forward inspired and certain.
This inspired super-conscious area of the brain is called the executive centre, or your higher mind. The part that is connected to universal intelligence. When inspired and focused you are in a altered and certain state that you don’t question, you just know.
Imagine your life, building your wealth, engaging in inspiring relationships from this state.
Change Your Thoughts, Change Your Life.
The simple act of revealing your clear vision for what is most important to you, acting upon that plan, and doing what it takes to make it happen automatically changes your thoughts. And in turn brings about the changes you want to see in your life.
Once done, a clear plan with a clear set of actions frees you to enjoy your life now knowing your dream, your goals and aspirations are set in motion. Your mind is still, you are present.
Q. What Savings Do You Currently Have?
When was the last time you saw a significant amount of money sitting in your bank account just waiting to be spent on something that inspires you? This will give you an insight to your subconscious belief system around money when it comes to building wealth.
Two simple questions; What is absent in your life that is important to you?
And, for you to be able to afford something you really want, what would have to change?
Remember the statement, ‘If you don’t know where you’re going, you may not end up where you dream of’.
What would the landscape of your life look like?
Imagine coming to the end of your life, what would you like to have accomplished, done and been?
What do you want written on your headstone? Dedicated, fun loving, big life liver, colossal giver… what is it for you? The sooner you start working on your goals, dreams and deepest desires, the bigger the rewards! Not only in relation to your wealth, but also your self / soul fulfillment. We are all here for a bigger purpose and by automating and compounding your ability to build your wealth leaves you the time and freedom for doing what you really came here to do / contribute / give.
HINT: If you can afford the small ‘stuff’, you can afford the things that are big and inspiring to you.
So by changing your thoughts, automating your pay yourself first accounts, and getting clear on your highest values, dreams, goals and deepest desires becomes the path to your freedom. Both financial and emotional.
Getting rich on $5 per day
Small choices + consistency + time = significant results.
How is it achieved?
1. Set and prioritize your goals, dreams and desires.
2. Document your Top 3-5 tasks and actions necessary for the achievement of your goals/dreams/desires.
3. Action your plan with automated functions.
4. Observe your progress.
5. Time. (The secret ingredient)
The formula starts with a decision, moves to a series of small, smart choices, followed by small consistent automated actions, over a period of time.
Compounding to your advantage
The compound factor works in two ways.
Firstly, reinvesting. The process in which an asset’s earnings, from either capital gains or interest, are reinvested to generate additional earnings over time. The constant reinvestment of the capital gains produces a compounding effect so you earn gains on your gains.
Second, is time. You could invest and not reinvest and allow the law of compounding just work for you. (It would not be as much as reinvesting but it is still a substantial growth over 30-40 years.)
Your Mindset, Your Wealth cont
Don’t Budget, Automate.
You now know how your conscious and subconscious mind operates. It’s your mindset that dictates your wealth. Part of our success formula incorporates the power of compounding, understanding your mind and automating wherever you can.
I am sure you have tried to put money away yourself and eventually it got too hard, other expenses popped up and you got drawn away from your plan, your goals, dreams and desires.
WEALTH TIP: Remove your mind from the equation. Set up an account/ or accounts, and automate the transfer from your salary.
Getting rich on $5 – $10 per day
Example (rounded) $5 $10
That is an example of how wealth is built with the miracle of The Compound Factor!
Q. Where do you get 10%?
A. Salary sacrifice to reduce tax index funds and shares (compounding factor) is always a good place to start.
If planning your best life is important to you call us on 08 7111 0022, book online here, or email email@example.com.
Remember, Action is power!
Make the rest of your life the best of your life.
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Disclaimer: This article is information only. It is not intended to imply any recommendation about any financial product(s) or to constitute financial or tax advice. The information in the article is reliable at the time of distribution, but may not be complete or accurate in the future.