Beyond Budgeting and into Wealthy Mentality
What I find so great about budgeting is once you realize that you control your wallet and not the other way around, only then can you really start breaking down the limitations on what you are capable of achieving. Yes, budgeting helps to keep you out of debt, but it is also there to put money aside for personal goals, whether it be relaxing on a beautiful beach enjoying our earthly treasures, taking those tango lessons that will foster a certain spice for life, or maybe something less comfortable such as starting your own business.
However, budgeting alone does not guarantee financial prosperity. This led me to really question people’s relationship to money, and how it either holds them back or helps them grow, just like any other relationship. What I have come to find is that there are three approaches to spending that exist regardless of how much money you have.
The development of these approaches is rooted in our personal relationship to money, which can most clearly be brought to light during moments when money is tight. Many people run through money like water. They spend on impulse and go into debt as a result of overlooking the severity of the situation. There are those, protective in nature, who decide to cut spending and compromise or hold off on goals, convincing themselves that one day things will get better. They spend enough to make ends meet, even put away a little bit for a rainy day. If something happens to their income, they tend to tighten their belt and spend less…they cancel their vacation or cut back on dinners out, just to manage. And lastly, there are those who view money not as a burden but as opportunities to achieve. They maintain their standard of living as the minimum and proactively find ways to see their goals through or face unexpected expenses, without falling into debt.
The last approach springs from a wealthy mentality. The first two types of people have either the mindset that they are not capable of making more than they do today or simply haven’t spent the time to find out. The “wealthy mentality” consists of looking for ways to make more money rather than finding ways to spend less. When something happens to their income or their expenses start to rise, their first thought isn’t “how can I cut cost”, but “how can I make more money?” I believe that this difference in belief can make a huge difference in why some are more financially successful compared to others.
The good news is that this approach can be followed by anyone. Think about it, if you were able to take away the boundaries on how much money you felt capable of making, how far would you go? It may be more within your reach than you think. That’s why my business is such a great tool for people in various economic situations. With my extensive experience, I can, not only guide you through understanding your finances, but also help you find new possibilities.
