Creating Wealth: Building Financial Freedom

Creating the Wealth Mindset

The wealthy think differently.

Thus for you to be wealthy you also have to learn how to think differently and build a Wealth Mindset’

To be wealthy on the outside you first have to be wealthy on the inside.  You have to begin to understand what being wealthy means to you and also you have to be “prepared to pay the price.”

Action: Firstly take a blank piece of paper and write down the words and images, emotions, tastes, smells and feelings of what wealthy means to you. But for the purpose of this exercise do not refer to the financial benefits.  The reason for this is that true wealth is not about money; money is as a consequence of thinking and acting in a manner that creates and builds wealth. Cause and effect!!!

“Are you prepared to pay the price.. “

This may sound strange, but in life there is always a price that you have to pay to have something and not have something.

We are all paying the price in many places in our lives.  The price that we have to pay can be obvious, for instance the price of being poor is not being rich, the price of being in a job is not running your own business...  I think you get the drift....   but also the price you are paying may not be as obvious as you may think....

For some the price they have to pay is far too great, for some the cost of being wealthy is far too great a price to pay, even if they do not consciously think like this.  BUT it is true, you have to be prepared to pay the price before you have something or achieve what you are looking for.  If you are not prepared to pay this price then, although you might feel successful and are achieving it will not last, it never does.

So first ask yourself... “Are you prepared to pay the price of being wealthy?” whatever that price is for you at this moment in time.

Poor attitudes in a wealthy lifestyle.

Your attitudes will have to change. 

Most people want to be rich for the sake of being rich.  For them being rich is just about money. Most people are attracted to the trappings of being rich, what Robert Kiyosaki in his Rich Dad Poor Dad books refers t as “Doo Dads!”  These are the cars, houses, boats, holidays and rich high-flying living that many people get pulled into, that is unsustainable.

If you are the sort of person that spend all your money before you earn it and build up your won debt mountain, then unless you change your mindset and attitudes, the more money you get, the more money you will spend and the greater will become your debt mountain.

Many people when they come into money, whether through inheritance or winning the lottery for instance,  will have spend most of the money within the first five years and be back to where they started from.  This is down to many factors, but primarily this down to the wrong mindset, the wrong attitudes and a complete lack of financial Education and respect for wealth.

Never forget this statement:

“Wealth is what you have left when you have no money left at all.”

Stop for a moment and really think about this.

If you need to write down the things that are most important to you, then stop and do this now. These should be the things that money can’t buy. We have all heard the phase “Money can’t buy love and happiness.” It is true, but money will attract plenty of it, or so it may seem at the time!! So you will have to decide who are the people that want to be with you for who you are, and who are the people that want to be with you just for your money.

So before you even start to think about being wealthy, you need to be clear and honest with yourself as to what is really important to you now and in the future, otherwise you might find yourself rich on the outside, but poor on the inside!!!

Remember, no one ever got wealthy by spending money, except those who you are giving the money to!!!

You will need to define a clear set of rules, financial rules, that are personal to you, and that you will absolutely not break.   Most rich people, investors and the like, have a set of “personal financial rules” often developed over time through failure and experience that for them are irrefutable.  They have learnt to never break their defined financial rules, they are sacrosanct, and they know that when they do break their rules that they are likely to fail.

So you also have to have a set of Financial Rules, but remember whether you are just staring out, or if you are already on your journey, the rules you have for today will evolve and become different rules for tomorrow as your experience grows.

Twelve Key Stepping Stones and Rules to Start to

Build your Wealth Mindset

1          What does being Wealth mean to you?

2          What are your financial goals and aspirations?

3          Start Building a Wealth Plan

4          Get you own house in order first!!!

If you are in debt, get yourself out of debt.  If you gain more money if you have not learnt the lessons you will end up being in more and more debt as the habits and lifestyle that you have that are getting you into debt will not change.

5          Define and agree with yourself what price you are prepared to pay and what price you are not prepared to pay

6         Define your top three values.

7          Start by defining your Financial Rules

Define your financial rules and build a financial framework of your dos and don’ts. Based on what you know now and where you are at this moment in time

8          Discuss your ideas with your family and friends

It is vital that you discuss your plans and aspirations with your family and close friends, as you will find that as you get further along on your journey that you will start to think and talk differently to the people around you, and this has the potential to cause conflict. Some of your family and friends will come along with you, whilst others will prefer to stay where they are!!!

9          An apple never roles too far from the tree”

As a general rule, people do not move more than plus or minus 20% either side from the core of the people or family that they are with at this moment in time.

“You become like the people you are with most of the time.”

 The more Wealth Mindset and Financial knowledge that you build, the wealthier you start to feel on the inside, like a cup overflowing, you will find that your new found mindset will start to pour out into your real world. 

10        Build your Team of Wealth and Financial Mentors

Most people do not build a Financial Team around themselves of trusted mentors, advisors and partners.  I can assure when you come into some money there will be no shortage of people willing to offer you advice, for a fee of course.

They will speak with seeming authority and knowledge and try to convince you that they are the best of the best and have your best interests at heart, but after you have met with five or more, you will realise that they are all telling to the same thing.

Nowadays the Internet gives you access to financial recourses from all over the globe and you can connect with the very best people and business where ever they are in the world, you do not in today’s world have to shop just in your local high-street.

Look to merge the digital and the physical world and build a virtual team and a physical team of trusted mentors and advisors.

Seek out the best that you can attract, three online mentors and three mentors in the physical world.

Three is a good strong number and this means that if you lose one, you will still have two, whilst you look to find another mentor.  If you only have one, and you lose that person, then you have none and it might take you another three to six months to find a mentor that you trust and are comfortable with.

11         Stop watching TV and listening to the radio!!!

Another exercise is not to sit in front of the TV driving a couch!!!  TV can be great, but there are such a lot of negative messages driven out of the TV or, now the computer and handheld device that they reinforce a negative mindset.  They also say do not put the radio on in the morning to listen to the news, as the stories are mostly of failure and reflect on life’s bad news stories, instead of being uplifting, again reinforcing a negative mindset.

12        Turn your car into a University!!!

Turn your car into a University. Use our sites to explore your journey and link to our trusted partners working with us to provide and develop tried and trusted content that you can utilise.

Get hold of Success development tapes, CD’s MP3’s, Audio books etc, and start listening to these instead, at least three to seven times over and see what you learn...you will be surprised how turning your car into your University can give you the equivalent of between 500 and 1000 hours of educational uplifting content, almost the same as the amount time required for a degree study!!!

These first twelve key Stepping stones are designed to get you thinking and to get you going. There is a lot of work to do here and you may be busy for quite a while as you start to put each of the twelve’s concrete blocks in place into your life.

You will find that you will do some of these and slip back to old habits, but please do not give up. Commit to yourself, take personal ownership and responsibility and start to make a real difference in your life.

The wealthy think and act differently. Their mindset is completely different from the main stream.  The current situation you find yourself in is largely due t the way you think and the way you act.

Good luck and keep coming back to the site for further instalments of your Wealth Plan, Creating Wealth: Building Financial Freedom.