Do you have a mindset for wealth?
Being financially stable is a key aspect to building a successful life and allowing yourself the freedom to live life in a way that lets you explore your passions and help those around you.
It can be very difficult to pursue personal development and growth when your financially stressed.
How financially stable you are has very little to do with how much money you make and has a lot to do with your financial mindset.
Personal finance is a huge topic, but I want to share 3 fundamentals that I’ve learned the hard way.
1. Pay Yourself First! No matter how much u can set aside, even a few dollars, do it! It will add up quickly. Having an emergency fund will help you handle unexpected things. These things will happen.
Imagine if you started saving five years ago, and did it consistently. Wouldn’t you be so glad u did? Ok. Start doing it now. The time will go by, wether you do or not, and you’ll be so much happier if you do!
2. Avoid debt! Debt is like dragging a financial ball and chain. It just slows you down and makes things harder. Debt for a home is ok, but most importantly, don’t spend money you don’t already have. If you use credit cards, pay them off in full each month at all costs!
3. Tell your money what to do! Don’t let it tell you what to do. If you don’t give your money a job, you will find that it quickly vanishes without a trace. Put it to work and know what it does. Layout a budget and track expenses. Knowing where your money goes will help you make better financial decisions.
If you do these 3 simple things, you will build a mindset for wealth that will allow you the freedom to pursue your dreams and personal growth. Fail to do these and you’ll likely feel stuck, stressed, and overwhelmed with financial burdens.
It’s never too late to start! We all have lessons to learn. Just try to be better than you were yesterday.
I hope this post inspires you to build a mindset for wealth and get past the traps of money so you can become all that you are meant to be!
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Excellent tips! Thank you for sharing:)
Thank you! Thanks for reading!