Top Investing Mistake #11: Not Deciding to be Rich
Many people think that they want to have more money. They save a bit here, invest a bit there. They think about buying a new car or going on vacation. Although these are thoughts and actions are OK, they will not have a major impact on our financial future.
One thing that we can do to improve our financial future is to decide to become rich. Some people don’t like the term rich, so you can choose financially free or office cubicle prison escapee. It doesn’t matter what you call it. It just matters that we decide, once and every day, that we are going to have enough money. Enough money to buy that new car. Enough money to go on that vacation. Enough money to never work in a job that we hate again. Enough money to help the homeless. Enough money to help our friends and family. Enough money to achieve all of our dreams.
Sometimes people wish they had “a little more money”. This impotent wish will get us nowhere. If we decide that we are going to have enough money, it causes a chenge in our psyche. It changes forever every decision we ever make about money. Instead of leasing that new car because we want it (and justifying it by saying, “it was a good deal!”), we will consider whether or not it will help us achieve our financial dreams. Instead of spending our money on a vacation that will soon be forgotten, we will invest it in a way that could mean clemency from the death sentence of cubicle hell.
Until we decide to be rich, no actions that we take are likely to make a difference in our financial future. As soon as we get any money, we would immediately spend it. Does this sound like you? 95% of Americans do this. Any time we get extra money from a bonus, gift or unexpected check, most people immediately go out and spend it. The best way to prevent this from happening is to decide that we are going to use all of our resources (including extra money!) to serve us. We are going to use every extra dollar, free hour of time, and stroke of unlikely fortune to make us richer. Everything starts with that critical decision.
Related posts:
- Top Investing Mistake #12: Not Connecting to your Highest Goal
- Top Investing Mistake #2: Failure to Launch
- Top Investing Mistake #15: Not Managing your Spending
- Top Investing Mistake #4: Not Getting Enough Information
- Top Investing Mistake #10: Not Finding Your Groove
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is one of my favorite financial books of all time. It's an allegory about a guy who has a terrible job, and how he overcomes challenges to achieve his dreams.
