If I gave you $20, what would you do with it?
If I gave you $100, what would you buy?
If I gave you $1,000, would you instantly go out and blow it on strippers and blow, or would you invest it into your dream business?
One of the turning points for myself financially was when I changed my mindset from “What would I buy with X amount of dollars?”, to “What would I invest in with X amount of dollars?”.
You’re either spending your way into poverty, or saving and investing your way into riches.
Listen, I love to spend money. It’s one of my flaws. No doubt about it. But although it’s a temptation for me, I used the power of my mind to become disciplined and switched from “What can I buy?”, to “How much can I save?”.
It’s absolutely imperative for you to develop financial goals that are more enticing for yourself, then wants in the present moment.
Here’s a practical example:
Let’s say you have $500 put away right now. Let’s also say that you have a strong WANT and a strong NEED.
Want: A motorcycle.
Need: Start a location independent online business so you can quit your cubicle torture.
Most people will do this: they’ll save up enough to buy the motorcycle, because and read closely, that PURCHASE will give themselves a temporary relief from their day to day mundane existence. Buying the bike will make them feel ‘happy’ for a short period of time, thus helping them forget about how much they hate their job.
A smart man will do this: they’ll invest their money into their business and sacrifice NOW, so they can buy the motorcycle LATER with profits from their new business.
It’s absolutely essential to discipline your mind from a “I Have To Spend!” mindset into a “I Have To Save!” mindset.
It’s not easy.
In fact, if you’re not a spendthrift type of cat, it might be one of the hardest things you ever accomplish, but you can do it. IF you’re tired of being average, being broke and being unhappy with your bankroll.
Here’s the reality about investing in YOURSELF and in something that will make you money.
When you start to get returns on your investment, whether it’s as small as a web domain and a WordPress theme for your new site, or as big as investing in a new restaurant, you’ll find that the purchases you make off the return on your investment will be that much more rewarding.
You know that little guilty feeling you get after you blow money on some shit you won’t give two fucks about in 3 months? That’s your conscience WARNING you to not make that decision.
In fact, if you’ve just made a purchase in the last few days that’s not about self-improvement, then return it. I’m dead serious.
You have to want financial freedom as much as you want to breathe and more than you want to LOOK like you’ve arrived.
There’s a common term people use for those who appear to have money on the surface, but are dead broke: Hood Rich.
These are the cats rolling in fancy cars and chillin in front of a brand new flat screen TV (usually in a shitty apartment), but couldn’t provide 5 stacks to get their buddy out of jail if their life depended on it. That’s hood rich. Don’t be hood rich.
Invest in yourself.
Change your mindset from “What can I buy?” to “How much can I save?”
Make financial goals for yourself. They don’t have to be crazy. If you can only save $25 a week, then do so. In one year that’s $1,300. Listen, if you can’t be disciplined with little, you’ll never have a lot. This is a financial fact and why so many lottery winners go broke within 5 years of winning. Financial discipline starts NOW.
I know it’s not fun saving. I won’t even bullshit and say “It’s fun to save and sacrifice and not spend money when your friends are partying and buying new cars etc!”. It’s NOT fun.
But you know what really isn’t fun?
Waking up one day and realizing that you missed multiple great business opportunities, blew money until you’re broke as fuck and your back is against the wall.
Doesn’t mean you can’t come out of a shitty situation and become prosperous, but it’ll be much harder then if you decided to develop financial discipline TODAY.
This doesn’t mean you have to be a miser and miserable and can’t spend anything, BUT you shouldn’t be spending your money as quick as it comes in. If you’re living paycheck to paycheck, decide TODAY that YOU are going to make a plan to not live like that anymore. Fuck it. No more.
Don’t hesitate. Decide TODAY you’re adopting a brand new mindset: from “What can I buy?” with your paycheck, to “How much can I save?” and watch how quickly you go from broke to ballin’.
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Read More: Get Fed Up With Being Average