Our attitude towards finance determine how we think, feel, and behave towards money. Those very thoughts could be making or breaking your pockets. They could be holding you back from reaching your full financial growth potential.
People who are successful with managing their finances are usually positive thinkers. Thinking positively sets you up to be successful in every area of your life, because once you change your way of thinking, your actions will follow suit. You have to speak positively over your finances and take control of your money. If not, you will continue to be a slave to money, have feelings of frustration, and cry that you're "broke" all of the time.
Broke people usually focus on what they don’t have and don’t have a plan to change their situation; successful people focus on what they do have and how they are going to get more of what they want.
As Americans, we often have "buy now, pay later" syndrome. We want what we want when we want it and will do whatever it takes to get it. For many of us, this means using credit to buy the latest things we think we need. What if we just had the patience to save up for what we wanted and paid cash? We would be able to live a life without worrying about any debts piling up or having extra bills to pay each month. Less stress! Sounds pretty awesome right?
The "American Dream" is all about having it all together — the nice car, the house, and anything else that we could ever want. Are we too materialistic? A lot of times, we're making the money, we have these nice cars and houses, and we're still unhappy! We still don't have that sense of peace and joy within us, and that's a problem.
In The Millionaire Next Door, Thomas Stanley and William Danko explain how your average millionaire is someone who you would least expect. The average millionaire doesn't display their wealth; they usually have an average car and live in a regular middle class neighborhood. They're not trying to impress the next person with the things that they have. They are more concerned about leaving a legacy behind once they're gone. They are under-consuming and stacking that extra money towards savings and investments.
So, in order to reach a level of financial freedom that you've been dreaming of, you have to work on your millionaire mindset. You must make better decisions regarding your spending. No more living beyond your means! Do you want to look rich, or actually be rich?