If there is a common thread among most of us, it’s that we’re always looking for more. We work hard day in and day out to try and increase our worth, and sometimes it can feel like we’re just running on a treadmill barely able to keep up. We see celebrities flashing their fancy lifestyles around, and we dream that someday, that could be us. We buy lottery tickets in the hopes that the big draw goes our way, and we fill the following week dreaming about the amazing adventures we’ll have once we win. If you’re anything like me, you feel everything you just read on a very personal level. To dream of more is part of the human condition and one that we’re not about to evolve past any time soon. Some of us, however, just can’t seem to catch a break, and almost all of us, just wish we could have even just a little bit more.
What if it’s not that complicated? What if it’s actually possible to invite more money into your life. Small changes to your life that have a big impact on the way you view the world, and an even bigger impact on your earning potential. Today I’m going to share with you how to attract more money into your life.
The Basic Facts
When it comes right down to it, money just numbers on a spreadsheet. Think about it, it’s either a piece of paper, a small piece of metal, or literally ones and zeros in a computer. Money literally doesn’t mean anything unless we give it value. The value you give to money, versus the value you give yourself, will affect your ability to earn and obtain it. In order to attract more money into your life, you need to make sure that you have a thorough understanding of how money is coming into your life, and how you are spending that money.
If on payday, the first thing you do is set aside half of your paycheck in order to purchase some video games, or you want to go and buy some beer with it, that’s not going to help you on your journey. You need to understand that in order to invite more money into your life you need to embody wealth. A wealthy person wouldn’t blow half of their money immediately upon receipt either unless of course, they are on a path to be much less wealthy. This is the same with you, if you change your mindset, you can do it!
The basic facts are these, money in your pocket or your bank account are considered your wealth. If you borrow money, you are giving away your wealth a little bit at a time to pay for someone else’s wealth. If you spend money, you are giving away your wealth. In order to become wealthy, you have to accumulate a certain amount of wealth, if you are always running your bank account empty, or you are continually borrowing money, you will never be able to accumulate wealth. The trick for this is simple, you must pay down your debts, and you must spend less than you make. Once you take these steps, you will immediately begin to accumulate wealth.
So, I Can’t Accumulate Wealth Until I Am Out Of Debt?
Of course not! You are thinking of wealth as something that is abstract from debt, whereas wealth and debt are two sides of the same coin. In the same way that -3 is bigger than -9, so too does being in debt $10,000.00 make you wealthier than someone who is in debt $100,000.00. It is a number line just like you learned about in elementary school. The key is to change how you are thinking about your money, and your spending habits in order to maximize your wealth growing capacity. In order to invite more wealth into your life, you need to be moving towards wealth on the wealth number line!
As soon as you’re done reading this article, you should immediately work out a budget. You need to know exactly how much money you have coming in versus how much money is going out. If the money going out is larger than the money going in you will have to make some decisions as to how you are going to overcome this hurdle. There are many options available to you in order to move your cash flow into the positive, here are some examples:
If you live alone, or if you don’t but have room for an additional household member, get a roommate. Their portion of the rent will reduce your monthly expenditure and allow you to divert those funds towards increasing your rent.If you buy expensive brand names in your food and clothing, consider either purchasing off-brand clothing, or purchasing used clothing for a fraction of the price. Certainly, I’m not suggesting that you do not take pride in your appearance, or ensure that you are eating food that is safe for consumption, but considers that a high-quality organic oat-based cereal may run you $7.00, when you can get a very similar product, that perhaps does not use all ingredients that come from certified organic producers, for $2.50. Right there, if you put that $4.50 towards your wealth, you’ve moved in a positive direction!If you pay for extra features on your cellphone, your cable, or any of your other household services, don’t! If you pay for HBO while you constantly sink further and further into debt, you’re doing nothing but harming yourself. There is an untold number of things that you can do instead of watching HBO that will help to get you on top!Make your own bread! This doesn’t apply only to bread but applies to anything and everything that you can possibly make at home. Learn to sew, learn to cook, learn to hem. All of these will cause your monthly expenditures to plummet! Anything you can do in-house, do it!I’ll be the first to admit that this is not always possible, but if you have a vehicle that you don’t really need, and you can get by with public transportation, or even a bicycle, ditch the vehicle! The money you save on insurance, gas, and parking fees will accumulate faster than you expect!
If you sat down right now and took stock of your situation, I’m sure you can come up with a ton of new ideas to help you get a handle on your current situation. Remember, every dollar towards your million-dollar net worth is a dollar closer!
Stress and its Role in Keeping You Down
There is something to be said for how stressed out we all are about our jobs, or our debt, or our childcare, or the latest deadline. It keeps us distracted. When we’re distracted, and stressed, we as humans are prone to making impulsive decisions. Impulsive decisions are not your friend. More often than not they will lead you to waste away your wealth rather than building it. Are there impulsive wealthy people? Sure, Elon Musk comes to mind, but he’s already gone through these steps, and I assure you he likely has a good understanding of the risk potential of his impulsive choices, and whether or not his finances can survive them.
We need to make sure we are in control. Decide at the beginning of the week that you won’t be eating fast food, then do some meal prep and make all of your lunches for the week. You won’t have to stress about making lunch as a result of an active decision that you’ve made to save money. That active decision has therefore allowed you to attract more wealth into your life!
Another big problem with stress is that we will tend to pull back from various situations. The last thing you want to do when trying to build your wealth is to stand in your own way. If we’re too stressed out to see an opportunity to make some money, then there is a good chance that we won’t receive it. You need to get yourself into a positive headspace before you will be able to see clearly! The billionaires among us didn’t sit idly by with their amazing idea’s, they got right down to work. It’s a lot easier to get right down to work if you’re not already stressing out.
Remember, it’s just money, numbers on a line. You’re going to keep all your numbers going right!
Side Hustles, Time to Increase Your Cash Flow
So here we are, you’ve done the impossible, and your wealth is now starting to accumulate. You’ve cut the dead weight out of your life, and you’ve sacrificed things that you once considered important enough to drag you down into debt. Congratulations! I’m so proud of you. The thing is, there’s no reason to stop just because you see that there is a light at the end of the tunnel. It’s time to build a booster and get you there faster. Get you wealthy, and then make you wealthier!
Everyone has skills. For example, let’s say you’re a teacher. You can use your skills to help other people and they are likely to be more than happy to pay you for it. Tutoring the little boy down the hall may make you an extra $40.00 a week, or maybe they can’t pay $40.00 but they’ll make you a lasagna every week? Congratulations, your expenses just went down and you’re getting Italian food! Win/Win!
Everyone has skills! Maybe you can fix cars, build websites, or write music. There are thousands of people out there right now looking for those skills. People willing to immediately pay you money when you complete what they need to be done. You were probably one of those people just a few moments ago, but that stops today. Today you go from net-output to net-input in regard to your wealth.
Does This Mean I Can Never Buy a Service Again?
Of course not! What I’m teaching you is deeper than that. I’m teaching you that everything, from changing your oil to shoveling your driveway is value-based. You can pay the young girl down the road $15.00 to shovel your driveway, or you can shovel it yourself. In the time that it takes to shovel your driveway, can you make more than $15.00? If so, then it’s a good investment to pay the young girl to shovel your driveway for you. This is how the economy works, but instead of being thrown under the bus, with your new knowledge, you’re stepping out of the way. Every time you spend money, you need to consider the investment of the expense. Will it bring you money as in the case of making more money while the girl shovels your driveway? Or are you going to go inside and watch HBO while sipping hot chocolate while the girl shovels your driveway?
Wealth is about an attitude, and the ability to observe and make decisions about your current situations. If you consider every investment you make of both time and money, and always make sure that you come out in the positive, then you will inevitably creep towards being wealthy. It’s impossible not to. Unfortunately, most people don’t think in these terms. Most people think about their expenses as buying them convenience. This is perfectly acceptable if you’re happy with your level of wealth right now. Of course, if you’re struggling because you want to get on top, you’re working against yourself by thinking only of convenience. You have to decide, which is more important, convenience or wealth? Because if it’s wealth after you’re done your driveway, you could consider offering to do some neighbor’s driveways for a few bucks too! Every little bit helps!
So, Always Charge a Fee and Take What You Can Get?
No again! You should always be open to any and all opportunities, but you are not obligated to agree to any of them. You need to consider how they will impact your situation. Let us return to the shoveling scenario but add in the fact that you are a commission-based salesperson. You have been offered $100.00 to shovel ten driveways, which is great! However, in this imaginary scenario, you feel that it is more than likely that going to your sales meeting which would take most of the day. You know that, on average, you make $80.00 per hour, you’re great at sales, and you’re fairly confident you will close the deal. It’s a bit of a gamble, but if you are confident in your skills, then the appropriate decision here would be to pay the $15.00 to have the girl down the street shovel your driveway, and then lead with your best sales pitch.
Always be open to every opportunity, but that doesn’t mean taking every opportunity presented. If you have down-time, by all means, fill it with menial tasks to earn a few dollars. If you have another activity that will more positively impact your wealth situation, however, do that. Never stand in your own way when trying to attract more money into your life.
Another important thing to remember when selling your services is to know your own worth. A great example of this was recently brought to my attention on social media. A web designer was building websites for people at about $200.00 each. He was using advanced techniques, customized WordPress templates, integrated store features, the works. I will say that I regret not finding that deal sooner, but he was devastated to learn that some of what he was doing was worth thousands of dollars. Always research what you’re worth and if you know what you’re doing, and feel like you’re not “professional” enough, remember these words:
Imposter syndrome is real, you are enough, you can do it. Charge your worth.
If you are a freelancer or an entrepreneur, work hard, produce good work, and expect a fair deal.
Some Closing Thoughts
When you’re out there with your bank account rising, try and remember what I’ve covered with you here today. Remember that billionaires are not wealthy because they have a ton of stuff, they have a ton of stuff because they are wealthy. Once you’ve accumulated a certain amount of wealth, remember that you too can begin to accumulate more wealth just based on the dollar value in your bank account. Interest and investments are a topic for another day, but they too play a role in accumulating wealth.
Think of the best wealthy people you can. People who are genuinely amazing people and that would give the shirts off of their back if it meant saving someone else. Think of the Keanu Reeves of the world. When you’ve built your fortune, and I’m sure that you will, don’t be Smaug from Lord of the Rings and sit on your giant pile of gold coins and glare at anyone who comes near. Be human. Help where you can. You know how much you can spare without harming your own wealth, genuinely consider others, and they will consider you.
After all, you never know when someone with an amazing idea is going to go looking for a partner!