Rewire Your Brain (And Bank Account) With These 7 Secret Mindset Hacks
Wealth is your state of mind. Here is how you change it.
Let’s start at the beginning.
You were born.
You grew up and formed a set of beliefs given to you by your family, your background and the culture you lived in.
It’s right to do this
It’s wrong to do that
You have to think about this
You can’t say that
Years of programming have added up until this exact moment in which you’re reading this post.
But have you ever questioned your beliefs?
How do you know if they are good for you?
Do you know why wealthy people have so much money and resources?
It’s not because they “inherited their wealth” (88% of millionaires are self-made).
If this was your first thought — you have the wrong mindset.
It’s something else.
The wealthy have wealth because their mindset, beliefs and thought patterns are designed for abundance and opportunity.
Luckily for you — I’m going to give you 7 of these mindset shifts you need to drill into your brain.
If you want to be a rich person — you need to steal their hacks.
1. Cost vs Value
Whatever you buy:
Don’t look at the costs, look at the return you gain from it.
Let’s look at 2 scenarios:
• Option 1 costs $100 and gives you $0 in value
• Option 2 costs $1000 and gives you $10k in value
What would 95% of people pick (average people)?
Average people would pick Item 1 because it’s cheaper to buy.
But ‘cheaper’ does not mean higher quality or higher value.
What’s the point of spending less if you don’t get a benefit from it?
Option 2 is the wealthy choice.
Yes. It costs 10x more than Option 1 (in this situation) — but you receive 10x the value.
Option 1 might be a piece of junk that you don’t need.
Option 2 will be a self-improvement tool like coaching or a course.
When you choose to see the value in a purchase instead of the cost — that’s when you’ve made a smart decision.
Don’t get confused.
It’s not always the case where you have to pay $1000s to get 10x in value.
Here’s something which costs $20 but gives you $1000s in benefits (a 50x return)
2. Creation vs Consumption
Creation is giving to the world.
Consumption is taking from the world.
99% of people consume things that don’t improve the quality of their life:
Wealthy people create the products/services that everyone consumes (including me and you).
So when you think about it.
1% of people in the world receive money from the other 99%.
All that money is concentrated on a few people and you wonder why certain people get so rich?
The important thing here is the creation aspect isn’t about taking from others. It’s about providing value to others in a way in exchange for money.
Jeff Bezos provides convenience with Amazon and his delivery system — he gets rich.
Michael Jordan provides entertainment with Basketball and his skill — he gets rich.
Do you understand this concept?
These wealthy people are creators.
Rewire your brain to think of yourself as a creator instead of a consumer.
You don’t need to build a new Amazon or be a 6’7 athletic specimen to build wealth.
You need to provide value. And this value is provided with the knowledge you have.
With your knowledge:
You can create a business.
You can create opportunities.
You can create further knowledge.
You can create more income streams.
Find out where you can create and start providing value to others.
3. Fixed vs Growth
A fixed mindset believes that there is no opportunity to evolve and grow.
A fixed mindset believes that all circumstances are final and nothing can be improved.
A fixed mindset is a negative mindset that will never taste wealth.
A growth mindset learns from its mistakes and is open to new opportunities.
A growth mindset knows that every failure is a lesson in disguise and there’s room to grow from every situation that arises.
Instead of thinking:
“Why is this happening to me?”
“What can I learn from this?”
Reframing your mindset from negative to opportunistic will serve you great for the rest of your life.
Understand that most situations are controllable.
Failure is never final.
Unless you believe it is.
4. Scarcity vs Abundance
Scarcity focuses on saving money and holding onto whatever you have because you believe that it’s rare.
Abundance focuses on creating more and investing.
And giving to others because you know that money is everywhere.
They print trillions of dollars every year.
It’s not rare.
What saddens me is seeing people value money over their precious time.
You can’t get that time back.
A clear example of this is waiting in line for hours to save $5.
When you switch your mindset from scarcity to abundance you attract opportunities into your life.
This isn’t some fairy tale story even though it sounds like it.
Abundance is real.
Energy is real.
Scarcity is not attractive and will elude wealth.
Abundance is attractive and will attract wealth.
5. Good vs Evil
Average people think that the wealthy are evil and that they have taken other people’s money for their personal greed.
Wealthy people know ethical wealth creation is possible and it’s about providing value to others at scale.
The more you can provide the wealthier you become.
You don’t need to be lucky or steal to get rich.
You have to give people what they want.
If you’re providing something which others want — how can this be evil?
If you think rich people are evil, you won’t become one.
6. Instant Satisfaction vs Delayed Gratification
This relates to the idea of Creation vs Consumption.
Average people want things NOW.
They can’t imagine waiting for better results in the future.
This also links to the scarcity mindset — believing no opportunities will arise later so let’s take it all now.
Wealthy people will wait > 10 years for success.
Wealth is a long term game at the end of the day.
Are you willing to be patient to get what you want?
This doesn’t apply only to money but to life.
A common habit of wealthy people is to make plans for their future. This is as small as a to-do list for today up to a 10-year plan for the future.
“Failing to plan is planning to fail”
7. “I Can’t” vs “How Can I”
Linking back to the previous point of planning.
A poor mindset views a challenge by putting limitations on itself by saying
“I can’t do this”
You destroy the thought of succeeding at the first point of struggle.
A wealthy mindset views a challenge and forges a plan to overcome it by saying
“How can I achieve this?”
This challenge can be anything in life and not only money-related.
You will notice that each of these hacks relates to one another.
When you start thinking in terms of abundance, you will find opportunities.
When you find opportunities, you will question yourself on how you can improve.
When you improve yourself, you understand that wealth building is possible and it isn’t out of reach for anyone.
It’s a cycle of self-improvement which starts by fixing your mindset.
Wealth is a game to be played like a game on an Xbox.
It’s your turn to start.
I hope you found value in this article.
The big idea I want you to take away from this is:
‘Wealth is a mindset’.
The numbers in your bank account reflect your mindset.
Someone who gets given $1m but inherits an average mindset will lose it all (lottery winners).
If you give the same person $10k but they have a wealthy mindset — they will make $1m (entrepreneurs).
I want you to apply these lessons not only to money but to your life.
CONTRIBUTED BY Long Term Wealth