Did you know that being wealthy is primarily about whether you are in control of money or money is in control of you in life? It is not necessarily a matter of character and it is definitely not about ability or education. Today I want to help you understand how you can start the journey toward wealth in finances, but also relationships, physical health, and life in general.
So much of our culture focuses on debt, and for good reason. Debt is something that the average person in Canada or the US struggles under on a daily basis. Take a look at the picture at the top of this post… Do you feel like the person on the right hand side? If so, you most likely are thinking about debt quite a bit. Debt is actually more complex than simply: Is it good or bad? I’ll leave that for another post, however. For today I wanted to provide an understanding and a few tips. The first tip is: what you tend to focus on, you will tend to move toward. If you mind is constantly filled with the impossibility of how to pay of your debt, then you will most likely spend a lot more time in debt that feels insurmountable. In order to get our of debt you need to begin focusing on having money. This will begin influencing you to move toward ideas that bring in more money. If your focus is debt, then you will continue to spend money on things you cannot currently afford (remember debt means it isn’t your money).
So many people think that they don’t have money because they are either lacking something fundamental (I simply don’t have the physical or mental ability to get out of debt) or that it is virtuous (Wealthy people are evil, and I’m good, so I will always lack money). Both of these are untrue. Most of the business owners I know that are wealthy tend to have great character. And I guarantee you that I can help anyone become wealthy no matter where you are starting off or what your natural abilities are. I’m not saying it happens overnight, but I have helped many of my clients move from a place where they are barely making it work month to month to where they no longer worry about money. I’ve also worked with one person that started my coaching almost homeless and is now doing quite well.
I want to make a distinction when I talk about wealthy people. The wealthy people I am thinking about are those who are business owners, not CEOs of publicly traded companies. I believe there is a major difference between the two. Business owners have a lot of skin in the game because they’ve built companies from scratch and care about every aspect of their business. They built their company one customer at a time and usually have very high ethics and ways they treat other people in life. The second group is hit or miss because they may have started businesses themselves, but they may also simply have a degree and some management experience and not really have gone through the same process as owners. I’m not saying someone with a degree isn’t ethical. I’m simply saying there aren’t any guarantees.
Here’s an insight you may not know. Most people who make a lot of money each year are not wealthy… they simply make AND SPEND and lot of money. Those who are wealthiest often don’t look wealthy by their vehicle and clothing. Money isn’t something that controls the wealthy in this world. It’s the other way around. They control money. In other words.. People who are wealthy tell their money what to do. They are in control of what happens and make purchases based on their plan. People who are not wealthy (including a lot of people who make a lot and spend a lot) don’t tell their money what to do. Life simply happens for these people and they figure it out along the way. One huge piece of advice I would like to offer is: Learn to tell your money what it should be doing. Do not be a servant of money; letting popular opinion and media be your advisors on finances. Be a master of money just as a finishing carpenter is a master of her or his tools.
Money is a tool and must be treated as a tool in order to be wealthy. Every tool has a purpose (hammer for nails, car for getting form A to B, etc.) If you use a tool for a use other than it’s purpose, you’ll eventually run into problems. If you use the claws of a hammer for screws or a car for help in moving a large object into place that is too heavy for you yourself to move…. you’re asking for trouble. If you use money to improve your relationships or bring you more self awareness… you’re asking for trouble because that’s not what money is for. Money is to purchase physical material goods you need or want or to help others get what they need or want. Period!
Know also, that you need to understand how to use each tool. There is a skill involved and money is no different. There are skills to using and making money and the good news is that anyone can gain these skills. If you don’t have them, find someone to teach you! You learned about money from adults when you were young and now most likely from the media. If your parents were great with money, fine. But if they weren’t, you need to find someone to teach you. Hire a mentor or a coach and begin learning about this valuable tool so that you master money.
I just mentioned the purpose of money; purchasing what you want or need and helping others in the same. I whole-heartedly believe that you can become a master of money; wealthy. As you grow into this skill I also believe you will begin helping others in far greater ways than the government does. Not because they government doesn’t try to help. Simply because I don’t know a lot of people in government who know a lot about money or know a ton about helping others. Typically government is made up of lawyers and economists. Government should be in charge of laws, not the running of programs. I believe it is unfair to expect a government to help people in many ways we do. The ideal is if government makes good laws and a lot of people in population become masters of money and then help others with the life experience they’ve gained while learning about money. You don’t need to think hard for many examples of wealthy people who have provided the best educational facilities and medical facilities in the world!
I’ll leave you with this. You need to grow into wealth. It is a mindset and a skill set. I want to encourage you to begin investing in yourself; your own education and skill sets that matter the most in life. Money does matter and this investment in yourself will pay a great return than any investment you’ve ever heard of because of who you are!
Have a great week.