Mindset Mistakes That Kept Me Just Over Broke

Posted in Income, Mindset2 years ago • Written by Jim Daniels4 Comments

Do you want to make more money?

Enough to attain the peace of mind that comes with having a financial cushion?

I’ll show you how today. As someone who lived paycheck to paycheck for many years, I know that it can be stressful.

I also know that there are a number of traits that almost all top earners in the world have in common.

That’s what I want to share with you today.

Now don’t get me wrong. I understand that it’s more difficult for some people to rise up the financial ladder than others. There are lots of factors that hold people in poverty, including illness, poor education, lack of opportunity, etc.

But understanding the following traits and simply experimenting with changing them can make a huge difference in almost anyone’s ability to earn.

I know, because I was directly affected by ALL of the things you’re about to read.

I changed my mindset, went on to earn six figures a year and never looked back.

Today I challenge you to ask yourself if any of these traits apply to you, and if so, what are you willing to do to change them…

 

1. Limited Self-belief

People who become independently wealthy truly believe that there is nothing that can stop them from achieving their financial freedom goal. Most exhibit a high level of self-confidence that is often contagious, meaning everyone they work with “gets the bug”.

These optimists maintain a positive outlook at almost all times. Their confidence is not easily shaken by external factors and day to day setbacks and challenges. Their positive beliefs and energy virtually “will” any task to completion.

2. Staying Locked In Their Social Comfort Zone

You know that old saying… Birds of a feather flock together? Well it is true in financial circles as well. Many low income earners only network with other people who are of the same or similar income as them. It’s their comfort zone. They rarely if ever actively seek out other people who are significantly wealthier than them.

Most people who become high income earners do the opposite. They come out of their comfort zone, and consistently befriend and learn from others who are doing better than them financially. In the process, many are surprised to discover just how willing the people they considered “snobs” are to help them.

When I was stuck in one of my 9-5 grinds I sought out advice from a mortgage company owner I was doing some phone system work for. He was happy to share some pearls of wisdom that changed my outlook on many of the things you’re reading about in this issue. One of them is covered in the next tip…

3. Avoidance of Hard Work

People who become top earners are usually willing to do whatever is necessary to reach their goals, including things that seem like a lot of work. The fact is, even huge tasks can be separated into small steps that can be completed one at a time.

People with true potential to become big earners recognize this and immediately start breaking down big ideas into achievable steps. This “no-fear” trait can result in positive advances at virtually every level, from minimum wage workers to self-employed individuals.

The simple fact is, if you want to make great strides in life, you need to be willing to roll up your sleeves and work long, hard hours. The time will come later when you can reap the rewards for all your hard work.

Which brings me back to my new friend at that mortgage company.

I’ll never forget the 15 minute conversation we had, even though I thought it seemed insignificant at the time.

The conversation started simply enough with him asking me if I got much overtime. When I said I tried to avoid it, he looked surprised. He asked me what my goals with the company were, and I admitted I had none. It made me think about setting some.

I started that week to accept after hours service calls and late night system upgrades. Within a year I was managing the service department. That lead to learning about computers, and eventually to my own business online. Had I continued to avoid extra work, I may still be doing the same job to this day.

4. Not Respecting The Importance of Time

Most people who become wealthy through their own ambition recognize that time is their most important asset and a very scarce resource. They do not waste their precious time sitting in front of a TV watching soap operas or endless hours of reality shows. They ARE their own reality show.

How many people do you know who are constantly saying “I’m going to do this, and I’m going to do that”. How many of those things to they actually DO.

Financially independent people are DO’ers. Instead of saying what they’re going to do, they jump in and start doing it. When their tasks are completed on a regular basis, they accomplish great things over time.

5. Unorganization and Procrastination

While there are some people who’ve become wealthy despite lack of organization they are in the minority. The fact is, most people who go on to earn the big bucks, whether with their own company or as an employee, know how to get things done. They keep lists and set deadlines for tasks. They don’t constantly put things off.

When they have a job to do they roll up their sleeves and jump right in without delay. Even if they’re simply delegating the job to someone else, they give immediate, concise directions and follow up with progress regularly.

More after this sponsor message…


6. Not Using “Leverage”

People who get things done know how to use the power of leverage to achieve maximum results with minimum efforts. They understand how to leverage money as well as people. Big achievements are not accomplished by one person, even though one person sometimes reaps the bulk of the credit or financial gain.

Think about it. Did Steve Jobs write all the code that makes an Apple computer run? Does he put ipads together himself? Of course not! Heck, even the President of the United States has people who write his speeches. Every successful person finds ways to leverage their time and money. Online, you can get low cost leverage at places like fiverr.com and plr sites.

7. Unwilling to “Pay” Their Way Up

Many people of lesser financial means have the idea that the best way to manage money is to use less of it. And while that is true in some cases, most people who become financially independent have a different viewpoint.

They view many expenses as investments. They understand that spending a certain amount of their money to acquire new knowledge or a new skill, can result in large scale future returns of their initial investment.

8. Different “Saving” Habits

Financially successful people know how to put their money to work. While saving is a good habit, most people who become truly rich realize that simply saving is not the best way to grow your money. After all, savings accounts earn about 1% a year on average these days.

Wealthy people put a significant portion of their wealth in investment vehicles that give them a better ROI than a normal savings account. Examples include stocks, bonds, commodities, real estate, etc.

In closing…

I personally was affected by every one of those negative traits until about age 32. I’m still guilty of a few of them from time to time. (I watch too much sports on TV!)

I’ve had lots of jobs over those years including dishwasher, lawn mowing, cleaning, telephone repair and more. Some of the jobs I liked, some I didn’t. None of them paid very well.

It wasn’t until started experimenting with those traits above, that I started earning six figures a year, every year. That was about 20 years ago. The right mindset can change everything.

I hope you find a trait or two in today’s post, that you can experiment with changing!

See ya in a few weeks…
Jim Daniels

P.S. Whether you want to completely phase out your day job like I did, or you just want to supplement your household income, you have to start somewhere.

At my ezWebBusnessBuilder2.com site I’ll show you ways to help others and earn at the same time.

 

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4 Comments so far. Feel free to join this conversation.

  1. Helmut February 2, 2015 at 3:59 pm -

    Thanks for the tips on how to make more money. I think it comes down to having discipline to get the work done.

  2. Tracy February 7, 2015 at 3:26 pm -

    All very good points! Thanks for sharing!

  3. Damon February 8, 2015 at 10:19 am -

    everyone wants to make more money. You provide some really quality tips here for that goal! Thanks.

  4. Nathaniel March 24, 2015 at 1:44 am -

    Amazing! This blog looks exactly like my old one! It’s on a completely different subject but it has pretty much the same layout and design. Outgstanding choice of
    colors!

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