4 Ways to Strengthen Your Mindset

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#1: Establish your beliefs about money.

In his book Happy Money, Ken Honda explains the concept that there are two kinds of money: happy money and unhappy money. Happy money is given and received with gratitude, joy, and enthusiasm. Unhappy money is given and received with reluctance, stress, and desperation. The difference is in attitude. “It is not how much you make or have that makes you have happy money or unhappy money; it is the energy with which your money is given and received that determines your flow.” 

 

The more you spend and earn with positive energy, the more your money becomes happy money. Money grudgingly given for the high-interest mortgage payment will be unhappy money. Money gladly given out of gratitude for a home is happy money.

The phrase “money can’t buy happiness” is only true because money itself cannot determine happiness, but attitudes and beliefs about money can. You can be happy with your money, however much or little, by earning it with gratitude and spending it with joy. When your attitudes and beliefs toward money become positive, money can become a positive influence in your life.  

 

#2: Focus on the impact you can have on others.

When you view money as a way to serve others, you start to realize a little can go a long way. And as you build wealth with the goal of giving back, that impact grows exponentially. Although there are countless ways to help people without using any money, money can be a very valuable tool for helping people in ways that do require money. You can support your family, give back to the community, and provide opportunities for those who have not yet been fortunate enough to receive financial education. 

 

Even before you build wealth, and even during trying times, focusing on impacting others is immeasurably rewarding. In his interview, Navy SEAL Mindset with Dan Crenshaw, Jordan B. Peterson addresses the concept that when people feel unsuccessful, offended, oppressed, or victimized, they tend to become unproductive, focusing more on blaming others than on fulfilling their duty and responsibility. His response is, “If your life is falling apart, if you’re miserable, it’s still the case that if you step outside yourself and you try to make the lives of other people better, that’s the best possible thing you can do for yourself…I just can’t see how you could go wrong, if you’re miserable, by starting to work hard on making others’ lives better.”

 

#3: Break free of the scarcity mentality.

In terms of wealth, the scarcity mentality suggests there is not enough wealth for everyone, or that there is a finite amount. It suggests there is not enough money, not enough jobs, not enough promotions, not enough. Ken Honda says, “If someone else has something, then we can’t have it. We believe that if others have a lot of money, they are automatically depriving us of our money. We attach a lot of negative emotions to money when we think of it this way. The scarcity mindset is a belief that there are limited resources in the world and if we don’t get what we want when we want it, someone else will.” This mentality becomes an excuse for not working toward goals. 

 

In contrast, the abundance mentality suggests there is enough. Opportunities are limitless. Everyone can become wealthy. Maybe you have to work harder to get it, and maybe you don’t have what someone else has, but there is enough. Believing that there is an abundance, and putting positive energy toward wealth, imbues your money with hope instead of fear.

 

#4: Expose yourself to opposing views.

The Wealth Academy encourages you to surround yourself with like-minded people to encourage and support you in reaching your goals. However, in order to truly develop a strong mindset, it is also vital to expose your mind to opinions that differ from yours. Listen to opposing views. Don’t limit yourself to communicating only with people who share your viewpoints. Listen to people you disagree with to strengthen your mindset and understand not only what you think, but why you think that way. In his Ted Talk about listening to people with disagreeing viewpoints, Zachary R. Wood says, “Through engaging, I believe that we may reach a better understanding, a deeper understanding, of our own beliefs and preserve the ability to solve problems, which we can’t do if we don’t talk to each other and make an effort to be good listeners.”

 

Sources: Fortitude, Jordan B. Peterson, Ted Talks, Entrepreneur, Happy Money, The 7 Habits of Highly Effective People

 

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