Our first step on our journey to a healthy financial mindset has been to read Rich Dad, Poor Dad. If you haven’t finished it, continue to read it. If you have read it, there will be more financial books in the comments of step five.
Financial Education is a Personal Responsibility
One of the things you should be realizing as you read is that you have to make an effort to get a financial education. School is important for teaching you how to read and write and do math, and you probably didn’t really have to consciously decide that you would learn those things. But finances are different, and I personally think that might be good. You have to make the choice and take the steps. As you learn from the wealthy it might start to feel like higher education and getting a job to make a living are bad things, but they are simply tools that you may or may not use in your life. But whether or not you attend college, you definitely need to keep learning, and one of the subjects you need to learn is finances from those who have proven they know what works.
A lack of financial knowledge leads to a lack of ability to control your financial situation, and this really affects your emotional health. Our new habit for this step will be an important way to start really taking control of your finances while you continue to work on your financial mindset.
Wealth or Financial Health is a Journey
There are a lot of videos, ads, and other messages out on the internet right now about wealth. Some of these make it seem like you can very quickly and easily get rich. Abundance is a very good and attainable thing, but it is a process and it takes time. If you look at the life stories of most of the wealthy entrepreneurs, you will find that they went through some major struggles to get where they are now. It took persistence and dedication beyond what most people are willing to expend. It is good to move forward on the abundance path, but in the meantime you do need to eat and a place to sleep. So if you feel the call to be an entrepreneur, consider very carefully and listen to your heart about the right time to quit your 9 to 5. It is okay to build a business on the side while you work full or part time. It is okay to keep working for someone else and learn to invest your extra money wisely and build wealth that way. I want you to change to an abundance mindset, but I want you to realize every journey is very personal, and it will take hard work.
New Habit: You are going to start tracking all spending. There are two ways you could do this. You could get a simple notebook and write down every penny you spend. Or you could get an app like Spending Tracker and enter your expenses on your phone.
Journal: Is your outlook on wealth or money changing at all? How do you think you are doing financially right now? What are your financial goals?