Throughout this year, I’ve been studying wealth creation and the wealthy mindset. I have learned a lot and, together, Melinda and I have worked very hard to develop better financial habits.
One of the biggest lessons I’ve learned is this, You will manage $5.00 the same as you manage $1,000,000. Because it’s not the amount of money you have, it’s your mindset that determines how you will manage your money.
It’s human nature to seek more. And if we’re not careful, we can develop what I call, More Syndrome. We think that if we make more money we’ll eventually have financial freedom. That’s not true. Just because you can make more money doesn’t guarantee that you have the systems and processes that will help sustain it. Consider how many celebrities have filed bankruptcy; they acquired a lot of money, but they did not acquire the financial acumen needed to keep it. Money wasn’t the problem, poor money management was.
So as we prepare for 2015, think of it as a new beginning. Sure you may have wasted a lot of money and you may not be making as much as you would like, but don’t get discouraged. All hope is not lost.
Start with what you have.
The Warren Buffet’s of the world didn’t start with millions of dollars, but they used what they had. You can do the same. Identify the financial resources (i.e. a budget) that will help you sustain what you have. A lot of us were not taught how to effectively manage our money, but that doesn’t mean we cannot learn now. Release the excuses. Develop the discipline. Shift your priorities. Make the sacrifices. Abundance is your birthright. But before it can come knocking at your door, it has to know that you’re truly ready to receive it.