Friday, March 7, 2008
Its Not How Much Money You Earn - Its What You Do With It
How many times have we heard it? Young studs who all of a sudden come into money. It's even happened to the best of us. Anthony Robbins. Will Smith. A lot of the movie stars go through it. A lot of entrepreneurs go through it.
What am I talking about exactly? Well more specifically I'm talking about self sabotage. And more specifically I'm talking about getting back to the basics when it comes to managing your money.
Anyone heard the saying, the more money you earn the more you spend? This is especially evident in the scenarios where your average Joe wins the lotto and then you check back on him 5 years later and he is in even bigger debt than he was before. Just with nicer shoes and a better haircut.
But why does this happen? Well let me share with you another famous saying. "Its not how much money you earn, its what you do with it" A lot of people are in the financial situation they are in right now because of the way they manage their money. This is tied deeply with spending more money than you can earn, and not putting money aside to invest it.
In terms of Anthony Robbins, well let me tell you a little bit about his story. He came into a lot of money when he was quite young. Doing speaking and seminars. This was such a contrast from the life that he came from, which was poverty riddled. He came across two problems when this happened. Firstly he still had all his old friends around him, and they would cut him down because he wasn't like them anymore. N because of this he self sabotaged himself and gave all his money away or spent it like there was no tomorrow which resulted in him begin in a worse position than when he started.
What is the lesson in this? Firstly that if you want to attract wealth and money into your life then you are going to have to have the mindset to be able to keep it. Secondly as part of that you are going to have to go back to the fundamentals. Like paying yourself first. Buying luxuries on a reward basis. Consistently investing a proportion of your money. And the more you build on creating an abundant and wealthy mindset the easier this becomes.
With that in mind, remember that money does not equal happiness. Money will not make you feel more fulfilled. Money will not make you feel more loved. These are all thing that you must find within yourself first before you can really understand the benefits and lifestyle that money will bring.
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