1. We live in an abundant world!
You can have all the money you want and that must be your mentality. There are things in this world that are infinite and abundant. Love is infinite. Money is abundant.
Remember that any self defining limit your put on yourself, defines your world.
Related Article: Focus Your Focus (on the important truths in life).
Did your parents always say there was never enough money? Or was there always more than enough? Can you see what impact this might have on a child?
A child who was brought up with the belief that money was a scarce commodity is going to have to realise that image of the world was imposed by their parents – it doesn’t mean it is REAL.
We all live in the same world and have the same opportunities as those who have more than enough – it is an abundant world. Keep reminding yourself of that fact.
{AF template=round_quotes} Abundance is not something we acquire. It is something we tune into – Wayne Dyer. {/AF}
2. Build multiple key skills
We live in a society where the amount of money you earn is relative to the value of the work that you do.
To increase earnings you must increase your value to the workplace and society.
Related article: Build your key skills – Become indespensible
The world is ever changing and the workplace is looking for people can adapt quickly to new challenge. The world needs you to grow, right now. With new technologies and new challenges there is a world of opportunity out there to make a huge impact. One man or woman is capable of more than in the past history of the human species.
{AF template=round_quotes} The purpose of learning is growth, and our minds, unlike our bodies, can continue growing as long as we live – Mortimer Adler. {/AF}
3. Invest in yourself
How much time and money you invest in yourself has a direct effect on your physical and mental capital – your earning ability.
Time and money can either be spent or invested. If you invest in becoming more knowledgeable and better skilled, your value will increase.
Suggested reading: Psycho Cybernetics
I certainly recommend reading an investing in this book as it goes to the crux of who you are, your self image. The reason why you do or don’t do something is down to your self image – how you see yourself. If you see yourself as never being wealthy, happy, confident then you can never change – no matter how much will power you put into it.
Psycho Cybernetics (as crazy as the title sounds) is all about steering your self image in the direction that you want to take it, rather than being governed by it. You can re-imagine your future right now.
Suggested listening: Try Audible FREE for 14 days and get a free audiobook
{AF template=round_quotes} I believe through learning and application of what you learn, you can solve any problem, overcome any obstacle and achieve any goal that you can set for yourself – Brian Tracy. {/AF}
4. Use your time productively
Think slow and act fast is how the successful people live. You need to think about your decisions in life and get the best advice you can. This coupled with your ability to practice self-control, and self-denial, to sacrifice in the short term in order to reap greater rewards in the long term, is the starting point in developing a long term time perspective.
{AF template=round_quotes} A man who dares to waste one hour of life has not discovered the value of life – Charles Darwin. {/AF}
5. Always save 10%
Saving requires a little bit of self-denial and living within a different budget. By saving at least 10% of your earnings for the future you ensure a better life for yourself. Open a savings account.
{AF template=round_quotes} If you would be wealthy, think of saving as well as getting– Benjamin Franklin. {/AF}
6. Invest but always research first.
You must investigate before you invest. This is one of the most important lessons and laws of money. You must study your investment for as long as you are going to be investing. The only thing easy about money is losing it. You probably won’t be investing within your student life but this is an important lesson to learn for later in your life. The best thing you can do at the moment is to invest in yourself and your future by making a clear plan of what you want to do when you leave university.
Some of Warren Buffett’s (the worlds greatest investor) key points in investing are:
– Never invest in a business/savings account you don’t understand.
– Always invest long term
– “I don’t look to jump over 7 foot bars, I look for 1 foot bars that I can step over.”
– “It’s far better to buy a wonderful company at a fair price than a fair company at a wonderful price.”
Suggested reading: Investment books on Amazon.
{AF template=round_quotes} The first rule is not to lose money. The second rule is not to forget the first rule – Warren Buffet. {/AF}
7. The compound effect.
The more money you manage to save and accumulate, the more money you will attract into your life. The law of magnetism explains much about success and failure in every area of life, especially in the financial area. The more positive emotion you attach to your money, the more opportunities you will attract to acquire even more.
{AF template=round_quotes} The most powerful law in the universe is compound interest – Albert Einstein.{/AF}