When was the last time you thought about money? Chances are it was today for some reason or another. Money is on everyone’s mind, whether they like, hate or love money. So it is important to nurture a mindset that allows us to live the life we desire. Most people don’t want to work for $11 an hour their whole lives nor do they want to be on a whole life plan to retire. However, the lack of knowledge about how to attain money keeps most people around the world from ever achieving this level of financial freedom.
A level of freedom that provides us with the ability to choose to live the life we desire with out having to work for anyone else for money; unless it is by choice. Now, this level of freedom does take more than just having the proper mindset, I will not argue this. But, in order to reach such a level of freedom, we must develop and nurture our mindset. What I took from this was three things: 1) stay focused, 2) stay in the energy, and 3) finish what we start.
Whatever it be, we must finish what we start, by remaining focused and having the energy to do so. You know, the most successful people are quick to make a decision and slow to make changes. This means that we have to build a mindset that is consistent with our efforts so we can make the decisions we need to make with focus, and have the energy to finish what we start as we also may or may not have to change things up a bit. Rather than, slowly making decisions and quickly changing the plan; do you see the lack of focus here.
When the plans are constantly changing is there focus? I’d think not, for the a lack of focus show inconsistent behavior and levels of uncertainty. This level of focus holds true for the person, just as it does for the business the person runs. Which, is why we have to nurture our mindset.
We have to invest in ourselves to develop the skills necessary to build and maintain our lives. This is done by becoming aware and understanding of different skills that we need for our toolbox. The beautiful thing is this: we are all different, so your toolbox is different from my toolbox, and when we can synergize we have a bigger toolbox that can build and maintain an efficient lifestyle. Hence, it behooves us to develop ourselves on the inside, so we can go out and create it for the world to see. Whatever it may be.
Speaking of it, ideally the mindset of a millionaire creates passive income and invests in ways that gets money working to make more money. This might seem hard, but it really isn’t once the mind is educated and has a better awareness and understanding as to what investments are sound and what qualifies for passive income. But, pretty much anything that can show results that get you one step closer to becoming financially free is an investment, and things like books, affiliate marketing, online automated systems, licenses, vending machines and royalties etc… are known as passive income.
Passive income is the mantra of a millionaire mindset. “passive income, passive income, passive income”. When this happens lucrative opportunities always come our way. After all it is passive income, that is earned by investing in ourselves to capitalize on an opportunity with a high return on investment. And, last but certainly not least we have to establish a money management system that allows us to pursue joy and purpose in life, or else we won’t be emotionally free, and that is what matters most to this entire mindset.
To set up a system of this sort we have to have 6 accounts:
- 10% Financial freedom account – to invest in markets, businesses and passive income, oh and real estate.
- 10% Long-term savings for spending – This is the account that you save money for a long time to purchase something. i.e. vacation, upgrade, car, whatever you want.
- 10% Education – “learners inherit the earth while the learned will be equipped for a life that doesn’t exist.” So use this fund to learn the skill sets you want to develop the mindset you want.
- 55% Necesities – this fund is for all of your bills, food, memberships, haircuts, gas, you name it, your monthly expenses go here.
- 10% Play – this fund is for your breaks, when you get to go out and be a kid again and do the fun stuff you want.
- 5% Give – this fund is to give back to whatever it is that you’d like to support.
The key to this system is that the accounts are separated so it makes it harder to spend all of your money at one place. Instead you get to develop the mindset you need to move toward the life you desire to live. When all of this is done, the chances of you getting rich for doing what you love increase exponentially.