It’s all in the mind, they say – and on some level, they’re absolutely correct. Habits formed in your mind have kept you from financial success in life – so make this your time to start developing a healthy foundation for financial prosperity! Do you have a poverty mindset? Take a look at these 3 quick tips that from Jayme Washington that will help you identify what a poverty mindset looks like – and how to break it once and for all!
1. Don’t Speak The Language Of Poverty
How many hours do we spend in school learning financial wisdom? Zero! So where do you learn your financial habits? From other adults, mainly your parents. If your parents spent foolishly, their actions taught you to spend foolishly. If your parents spent wisely, you would gravitate towards wisdom in finances. The language of poverty that sounds like “we can’t afford it,” or “we don’t have the money” or “that’s for rich people, not us.” All those statements are victimized, poverty statements.
Change your language, and you change your financial future.
2. Eliminate Unhealthy Financial Traditions
Unhealthy traditions pass from one generation to the next. If you are serious about breaking yours, you can succeed. How?
- Make a decision: Do you like where you are financially? Are you tired of the pressure of debt? If so, decide today to do whatever it takes to achieve financial independence.
- Learn some new skills to replace the poor skills you learned from those around you.
- Repetition is the mother of skill. Through repetition you learned poor financial skills; through repetition you will learn great financial skills. Beware who you learn from. You should learn from someone who has a lot of money – not just someone who looks the part. Most people are far from reaching their goal of financial independence.
Change your traditions, and you change your financial future.
3. Understand The Power Of Repetition
We learned how to walk, talk and eat by watching those around us. Everything we know how to do, we learned – or were at least were influenced by those around us. Have you ever said, “I will never be like…” or swore to do things differently from your parents, only to find yourself saying and doing those exact things? History repeats itself! Decisions made without establishing new skills will lead to failure of the decisions becoming a reality. Change your habits, and you change your financial future.
4. Take Action!
If you’ve gotten this far, know that you have been chosen to prevent those negative traditions from passing through you. Solomon, the richest man who ever lived, said: “A prudent man sees danger and takes refuge, but the simple keep going and suffer for it.” Don’t be stupid! Don’t let this be another article you read and put away. Take action today. Start learning the difference between wise and foolish spending. Learn how to create assets instead of liabilities.
In Great Faith,