People need to be mentally stronger and more resolute to hit goals, especially their wealth goals. There are a number of habits that can assist with your money resolution:-
- They Always Have a Positive Outlook Toward Their Finances
“My attitude has always been, if you fall flat on your face, at least you’re moving forward. All you have to do is get back up and try again.” – Richard Branson
Mentally strong people subscribe to Branson’s notion that a positive attitude puts them in a position of control over their circumstances. They also apply this same principle toward their finances. In fact, research has shown that positivity is a hallmark of nearly all financially well-off individuals. You can follow in their footsteps too. Start by affirming out loud your financial goals for 2018. Remember, be specific and confident (for example, “I will successfully save at least 10% of my income.”). Once you have those positive vibes flowing, write down your goals, so that you can monitor your progress throughout the year.
2. They Surround Themselves with Others Sharing Their Vision for Financial Success
“Surround yourself with only people who are going to lift you higher.” – Oprah Winfrey
As the saying goes, “you are who you surround yourself with.” This is especially true for the mentally strong. People associating themselves with others who are trustworthy, motivated and share their vision for financial success, naturally develop mental toughness. Why? Because they expand their financial horizons by collaborating with like-minded people and end up being that much more confident with their money. Still not convinced? Read Thomas Corley’s Rich Habits: The Daily Success Habits of Wealthy Individuals. You might be surprised to find that over 85% of the rich in his study made a habit of associating themselves with other goal-oriented, success-hungry people.
3. They Dedicate Themselves to Lifelong Financial Learning
“I really had a lot of dreams when I was a kid, and I think a great deal of that grew out of the fact that I had a chance to read a lot.” – Bill Gates
Mentally strong people are constantly hungry for knowledge and self-improvement. They actively strive to be better than the person that they were yesterday, and this translates into self-confidence and mental toughness. The same goes without saying for bettering themselves financially. Mentally tough people are always seeking ways to have their money work for them, not the other way around. Whether that takes shape in creating multiple streams of income or diversifying their portfolios, the mentally strong are relentless in honing their financial savvy. According to Corley’s research, 88% of the rich devote at least 30 minutes per day to self-education or self-improvement reading. You can join them too. Start flexing those mental muscles and get ready to learn!
4. They Live Below Their Means
“Living below your means has always been a go-to strategy of mentally strong people. They know they have money to splurge with but aren’t spendthrifts in their daily lives, they still want value for their money.” – Marsha Collier, best-selling author of 48 books
Mentally strong people have the financial discipline needed so that they don’t purchase the latest luxury vehicle and go off on compulsive shopping rampages. It also means that they’re thinking long-term with their finances. By living below their means, mentally strong people are confident with what they have now and are able to envision the financial future that they are working towards on a daily basis.
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