Mind over money

Thinking about being financially well-off is one thing. Thinking like you are financially well off is an entirely different proposition. There’s a significant psychological element to mastering money matters. It’s important to have the right mind-set, and cultivate the savvy habits that go with it. Let’s look at how you can take on the winning attitude of the wealthy and lead a richer life, literally and metaphorically. Follow your passion (rather than doing things you don't enjoy). Chase dreams and get paid for what you love. Set goals (rather than limits). Be ambitious, up for the challenge and take calculated risks. Don’t set low expectations just to avoid disappointment. Be a producer (rather than a consumer). Do things that accumulate your own wealth instead of someone else’s. Adopt an “action” mentality (rather than a “lottery” one). Believe that hard work increases good luck. Practice strategic thinking (rather than impulsive behaviour). Have a plan, show patience and self-control, and resist temptations like impulse buys. Think about money logically (rather than emotionally). Look at income and expenses in terms of cold, hard numbers. Use money as a tool that presents options and opportunities. Choose quality (rather than simply quantity). Understand that the cheapest route isn’t always the most valuable. Be in control of money (rather than be controlled by it). Know where cash is going at all times. Fear, ignorance and aimlessness can lead to making money mistakes. Think investing (rather than spending). Focus on increasing income and making money work. Use credit as a tool (rather than a crutch). Leverage it in a strategic way to make money. Use money to solve problems (rather than create them). Don’t acquire money to amass material goods and impress others, but to buy freedom and flexibility in life. Associate with like-minded people (rather than negative influences). Understand the importance of networking and maintaining positive relationships. Moneysoft can assist you with many of the above areas and taking more control of your money. You can use Moneysoft to set-up your ongoing and monthly budget, as well as helping you to achieve specific goals; it will keep you on track to achieve them! Many financial advisers are now using Moneysoft and are able to assist you even further with these areas. If you would like to find out more about how a financial adviser using Moneysoft may help you, then please email us at support@moneysoft.com.au 

Posted 8 years ago 2 Minute(s) to read