Wealth Mindset: Do You Want to Look Rich or Be Rich?
You may dream of being wealthy someday, but the big question is, do you have the right wealth mindset to achieve riches? Do you want to look rich or be rich is a big question. Many believe that being wealthy means looking the part, but rich people know how to become rich and stay rich, and it is not about looking the part.
As a business owner, you are in a unique position to build your wealth, but you must understand how to build your wealth to become wealthy. You need to follow a strategy to build wealth; a wealth mindset is a key to ensuring success.
What is a wealth mindset?
According to VeryWellMind.com, “Your mindset is a set of beliefs that shape how you make sense of the world and yourself. It influences how you think, feel, and behave in any given situation.” Mindset for anything is important because it influences how you see the situation and what is possible for you.
With a positive wealth mindset, you are focused on the financial health of your life. Your relationship with money must be positive to grow your wealth mindset. When you want to create wealth in your life, you need to think like a millionaire and adopt a healthy wealth mindset.
Why is a positive wealth mindset important?
You attract what you think and how you behave. If you want to make space for more money in your life, you need to think positively about money and believe that you deserve to have and maintain wealth. People who believe they are worthy of wealth will attract wealth due to their positive relationship with money.
If you are negative about money and believe that being rich is for other people, believe that you’ll always be broke, and that being rich makes you greedy, you will naturally repel having money in your life. You literally are what you think.
Understanding that when you have a positive wealth mindset and start strategizing, thinking, and behaving like a wealthy person, you have to remember that this is not about immediate gratification. It takes time to build your wealth, and patience is truly key.
What the rich know that you don’t
Rich people know that it is vital to preserving your wealth so that you can remain wealthy. This means you cannot spend your money frivolously but rather invest your wealth and preserve your capital.
Have you ever wondered why so many lottery winners lose all their money? It’s due to a lack of a wealth mindset and being unprepared to manage wealth.
People often believe that being rich is an endless supply of money, but the secret to wealth is in how you manage that money. It is much less glamorous than people envision and takes strategy and hard work, which is why most people fail to become rich.
Without a doubt, you need to make money to become rich, but it’s how you manage that money that you’ve made that will determine whether or not you become rich.
How to change your wealth mindset
A positive wealth mindset needs to be a part of your daily routine. Your brain is a muscle that needs to be worked out regularly, and having a positive daily wealth mindset is vital to creating a wealthy lifestyle.
Consider the people you surround yourself with. Do they support the wealthy lifestyle that you want to be living? What is their wealth mindset like? Are they positive about wealth or negative? You pick up habits of the people you are close with, so you need to ensure that you surround yourself with like-minded people that will help keep you focused. You don’t need to pick up negative attitudes or keep company with people who don’t hold the same values as you.
The 80/20 rule
It is said that achieving wealth is 20% knowledge and 80% behaviour. So yes, you need your wealthy lifestyle strategy to get you there, but your wealth mindset is the 80% portion that will help you achieve that wealthy lifestyle you want. This is why having a positive wealth mindset is so important because our behaviour is the key indicator of what we achieve.
Check out money mindset books that teach you how to think like a millionaire and create a positive wealth mindset.
Millionaire mindset quotes
As we’ve covered, having a millionaire mindset is key to becoming and staying wealthy. You can find motivation and inspiration in anything, but many people love to get their inspiration from millionaire mindset quotes. You can post millionaire mindset quotes around your workspace, in your living space, on your phone, and anywhere you will see to remind yourself to keep your wealth mindset intact.
Here are a few of my favourite millionaire mindset quotes:
“Success doesn’t come from what you do occasionally. It comes from what you do consistently.” – Marie Forleo
“All things are difficult before they are easy.” – unknown
“Focus on more than one stream of income. The average millionaire has seven.”
“Patience is key.”
“Your mind is a weapon. Always keep it loaded.”
“You can’t get rich thinking poor.” – Grant Cardone
Using millionaire mindset quotes can be beneficial in ensuring you are maintaining a positive wealth mindset.
Tips on how to build a positive wealth mindset:
1. Stay positive
Attitude is everything, and if you focus on what is working well and what you are grateful for you will attract more of it. Building a wealth mindset is also about making space for wealth in your life and working on receiving it. You must be open to receiving wealth to attract it.
If you feel yourself starting to get negative, you need to reframe your thoughts into more positive ones. Staying positive becomes a habit. The more you practice having a positive attitude, the more naturally it will come.
2. Get strategizing
As mentioned earlier, getting wealthy requires a strategy. Wealth management requires a thought-out plan that will not only bring in money but will show you how to manage the money coming in.
The most efficient and fastest way to build wealth is to build a business. If you are employed, you can start a side hustle by building a business and start making money through that business.
Start reading books and educating yourself on creating wealth for yourself and practicing a positive wealth mindset.
3. Surround yourself with like-minded people
You reflect the five closest people to you, so pay attention to who you spend your time with. Do they have the same financial values and believe wealth is in abundance? Can you talk about making money and managing it well with them? Do they have a positive attitude in general and about wealth building?
Be choosy about the people you spend time with, as they have more influence on you than you may realize.
4. Develop healthy habits
Having a healthy body and healthy mind is important for wealthy people. Being disciplined and having healthy habits show that you care about yourself and ultimately will care about your money. Don’t spend all your time watching TV. Read books, read articles, stay current on the news and find ways to elevate yourself.
People who are ambitious think and behave differently than other people. They see themselves as high achievers; they want and expect more for themselves and strive to do better in every aspect of their life.
5. Be patient
Patience is key to achieving your dreams. You strategize, set yourself up for success, and work hard for it. The results will come, but if they don’t come on your timeline, do not get discouraged. Patience can be challenging, but you will be happier when you realize that you have no control over the order in which you receive the gifts in life. Your willingness to wait reveals your value in what you are waiting for. You can do everything right, and it still takes time to see the results, so it’s important not to give up. It’s all happening in the background, and when it materializes, you will be proud of all the work you put into it.
The bottom line is that wealth can mean different levels of net worth, and what you want to achieve as your wealthy lifestyle is a personal choice. Create your goals and realize that what you want out of life may be different than what someone else is looking for, which is totally acceptable.
Knowing what you want from life and creating those goals is key to happiness. Stay on track, work towards your goals, and it will all come to fruition.