money

From Paycheck-to-Paycheck to Financial Freedom: How Changing Your Money Mindset Can Change Your Life

crop farmer showing money in green summer field in countryside

I’ve observed that the way people think about money plays a significant role in their financial success. In other words, your mindset determines your wealth. Mindset is a set of beliefs, attitudes, and habits that shape how you think and act. The right mindset about money is crucial if you want to achieve financial success.

Unfortunately, many people have the wrong mindset about money, which negatively affects their finances. In this blog post, I will highlight five negative implications of having the wrong mindset on money and provide ten tips to developing the right mindset about financial success.

Five negative implications of having the wrong mindset on money:
  • Procrastination: If you have a negative mindset about money, you are likely to put off financial decisions, such as budgeting, saving, and investing. This procrastination can lead to missed opportunities and poor financial outcomes.
  • Overspending: People with a negative mindset about money tend to overspend, even when they cannot afford it. They may feel that buying things they don’t need will make them happy or boost their self-esteem.
  • Fear of failure: Negative beliefs about money can lead to a fear of failure, preventing you from taking risks that could lead to financial success.
  • Living paycheck to paycheck: With a negative mindset about money, you may not prioritize saving or investing, leading to a paycheck-to-paycheck lifestyle.
  • Debt: Negative beliefs about money can lead to poor financial decisions, such as taking out loans or credit cards to fund a lifestyle beyond your means, leading to debt.
Ten tips to developing the right mindset about financial success:
  • Educate yourself about money and personal finance. Read books, blogs, and attend workshops on personal finance to develop a positive mindset about money.
  • Create a budget and stick to it. A budget will help you prioritize your spending and save money.
  • Practice gratitude. Appreciate what you have, and don’t focus on what you don’t have. A grateful attitude will help you avoid the trap of overspending.
  • Set financial goals. Goals help you focus on what you want to achieve financially, and they motivate you to take action.
  • Take calculated risks. Don’t be afraid to take risks to achieve your financial goals. Calculate the risks and make informed decisions.
  • Network with successful people. Surround yourself with people who have achieved financial success. Learn from their experiences and strategies.
  • Avoid comparison. Avoid comparing your financial situation to others. Everyone has their unique path to financial success.
  • Celebrate small wins. Celebrate every small win you achieve on your financial journey. This will help you stay motivated and positive.
  • Develop a positive money mindset. Replace negative beliefs about money with positive ones. Believe that you can achieve financial success.
  • Take action. The most important thing is to take action. You can have all the knowledge, but without action, you won’t achieve financial success.
Case study:

Mike was a successful lawyer with a six-figure salary. Despite earning a lot of money, Mike lived paycheck to paycheck and had a negative mindset about money. He believed that money was hard to come by and that he would never have enough. He spent his money on expensive cars, clothes, and vacations, even when he could not afford them. Mike was always stressed about money and was afraid of losing his job or having an emergency.

Mike started working with a money and mindset coach, who helped him change his negative beliefs about money. The coach helped Mike create a budget, set financial goals, and develop a positive money mindset. Mike started saving money, investing in stocks, and even started a side hustle. Within a year, Mike had paid off his debt, had an emergency fund, and had started building wealth.

Mike’s new positive mindset about money had a significant impact on his financial success. He was no longer stressed about money and had a clear plan for achieving his financial goals. By changing his mindset about money, Mike had taken control of his financial future.

If you want to become a live breathing cash machine, I encourage you to order Toyin Omotoso’s eBook, “How to Turn Yourself to a Live Breathing Cash Machine.” This eBook will provide you with the tools and strategies you need to develop a positive mindset about money and achieve financial success. With the right mindset, you can overcome your limiting beliefs about money and start building wealth. Don’t let your negative mindset hold you back from achieving your financial goals. Order “How to Turn Yourself to a Live Breathing Cash Machine” today and start your journey to financial freedom.

Stephen Adetolu is on a mission to helping millions of individuals unlock their potentials so that they can earn more money and lead a meaningful and fulfilling life.

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Money – How to Earn Money Legitimately

a laptop near the dollars and papers on a wooden table

Although, a lot of people have equated the accumulation of money to success, I think success in life goes beyond material possesstion. In today’s article, I will be sharing my thoughts about money and how to earn money legitimately.

The truth is that, the money you desire or aspire to earn is in the hands of other people. The question is, how do you get people to willingly give you their money. The day I learnt this principle about money and how to earn it legitimately, my mindset about money changed for the better!

What you should know about money
  • Money is Good
  • Money is Important
  • Money is a Tool
  • Money is a Servant
  • Money is a Means of Exchange
  • Money is a by-product

I will be explaining the details in subsequent posts. In the meantime, I want you to put those concepts in mind as we proceed.

Misconception about money

The misconception about money has led many people astray. Here is what I mean, money is a visitor, it goes and stays where it is welcomed. Many people have built a wrong or negative mindset around money, such that they unconsciously chase money away. For instance, such people unknowingly have a wrong understanding of the Biblical quote about money…they say, money is the root of all evil. That is wrong! The Bible in 1 Tim 6:10 says ‘the love of money is the root of all evil’. The keyword there is ‘love of money’. Evil is not associated with money, but the love of money.

Mindset plays a role

The mindset you have around money also plays an important role in your relationship with money. For instance, such mindsets as;

  • Money is difficult to come by
  • I need to work hard to earn money
  • Rich people are thieves
  • I don’t have what it takes to earn money
  • I was not born rich, hence cannot be rich
  • Wealth is reserved for some people
  • I cannot be rich
  • My parents are not rich, hence I cannot be rich
  • Money don’t grow on trees
  • etc.

These type of mindset or belief around money will naturally influence your behaviour towards it, thus, determining the action or inaction you take. With this type of mindset, you should know what the result or outcome is; Lack, struggle, poverty, etc

    But imagine a mindset like this;
    • Money is good
    • I attract money
    • Money answeres to me
    • Money flows to me from everywhere
    • I have the ability to earn money
    • I am a money magnet
    • etc.

    These type of mindset will put you in a consistent state to receive money making ideas, influence your behaviour, thus propelling you to take the necessary actions that will enable you earn money legitimately. I should mention here that, this type of mindset will also attract the persons, resources, network, etc into your life, for the purpose of manifesting your belief about money.

    What you believe is what you manifest

    Going by what I have discussed so far about mindset, you would have discovered that the money or abundance that you manifest is determined by the dominant mindset or belief you uphold about money.

    How to earn money legitimately

    I am deliberate about my choice of words here. Note, I said legitimately. This is because there are illegitimate ways of earning money too.

    The first principle is to get your intention right. Why do you want money? As long as your motives are humane, be assured that the universe will make a way. Such intentions as; to help humanity, feed the hungry, provide the best life for ones family, advance a worthy cause, freedom, etc are noble and ideal. Your intention should not be selfish, greedy or manipulative (using people). Fix your intention.

    Identify the problem you can solve for a lot of people. How can you make life easy and sweet for others. Zig Ziglar once said, if you help a lot of people get what they want, you will get what you want. That principle works! Now, you see why your intention should be hinged on genuine purposes. Most of the genuinely successful people in the world (alive or dead), didn’t make money their primary objective for what they do. Money came as a result of what they do (by-product).

    Acquire and develop specilized skills or knowledge neccessary for solving the problem you have identified. I told you earlier that money is a means of exchange. In this instance, you will be exchanging value for money. Provided the value you offer is exceptional, people will willingly exchange their money.

    Package the value you offer in the most appealing form. It could in the form of a product, service, coaching, speaking, etc. The list is endless.

    Build your brand, position your offering in the right segment and communicate your unique selling proposition. Get your marketing strategy right.

    Final thoughts

    Improve your ability to offer the value and get exceptionally good at what you do. Improve everyday. Get better at what you do.

    Become difficult to be replaced. The idea here is to reinforce your uniqueness and make sure you are intentional about been consistent in horning your uniqueness. There are no two people on earth with the same combination of talents, gifts, ability, etc like you. Bring that to the fore!

    I assure you that you will earn money legitimately by following the principles shared in this article. Click Here to my ebook ‘Money is not your priority’

    Stephen Adetolu is a Maxwell Leadership Certified Coach, Speaker and Trainer, He is passionate about helping people unlock their potential, so that they can achieve their highest, truest life aspiration.

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